Johnson Matthey said it had entered into a hydrogen technology partnership with US-based Plug Power as the British chemicals firm shifts focus to green hydrogen and emission-control catalysts.
Companies globally are increasing investments in green hydrogen - a zero-carbon fuel made by electrolysis, using renewable power from wind and solar to split water into hydrogen and oxygen - in their quest for cleaner fuel.
Johnson Matthey said the group would supply a substantial portion of Plug Power's demand for components of fuel cells and electrolysers, which are used to split water into hydrogen and oxygen.
The British firm, which makes catalytic converters for vehicles and refines platinum group of metals used mainly by automakers, said last year it was exiting its battery materials business due to tough competition and low returns.
The partnership with Plug Power comprises a supply and joint development agreement to at least 2030, covering supply of existing products from 2023, and future technology, for both fuel cells and electrolysers.
Johnson Matthey said the two companies would jointly invest in an up to 10 gigawatt new manufacturing capacity in the United States, which is expected to begin production in 2025.-Reuters