Johnson Matthey said on Tuesday it was partnering in hydrogen technology with U.S.-based Plug Power until at least 2030, as the British company hones its focus on its green hydrogen-related business.
Companies globally are increasing investments in green hydrogen, a zero-carbon fuel made by using renewable power from wind and solar to split water into hydrogen and oxygen, in their quest for energy which does not add to global warming.
Green hydrogen has been identified some as a potentially important way of decarbonising transport, by powering vehicles with only water as a by-product, as countries are looking to meet their net zero goals. Johnson Matthey is a leading supplier of catalyst coated membranes , which are a key component of fuel cells which use hydrogen fuel to generate electricity.
The London-based firm said it would supply a substantial portion of Plug's demand for components of fuel cells and electrolysers, to be used for green hydrogen production. "The rationale for the partnership is driven by the push towards renewable energy, largely due to the regulatory incentives provided in the United States and partly due to the energy crisis in Europe," Johnson Matthey Chief Executive Liam Condon told Reuters.
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