Johnson Matthey and Plug Power Announce Strategic Hydrogen Partnership
Plug Power, a leading provider of comprehensive hydrogen solutions, and Johnson Matthey (JM), a global leader in sustainable technologies announced on 31 January a long-term strategic partnership to accelerate the green hydrogen economy.
JM will be supplying a significant portion of Plug’s MEA components demands, such as catalysts, membranes, and catalyst coated membranes (CCM). Moreover, JM brings security of supply of precious metals, and unique recycling capabilities.
This venture will be vital to Plug reaching their revenue objectives of US$5 billion and US$20 billion by 2026 and 2030, respectively. Therefore, Plug and JM will be investing in a joint effort to construct what is projected to be the world's largest (5GW up to 10GW eventually) CCM facility. The plant is planned for the United States and is projected to launch in 2025. Plug and JM are also taking advantage of the Inflation Reduction Act in the US and REPowerEU in Europe to catalyze the expansion of the hydrogen industry.
"Plug is proud to expand our relationship with JM, a highly respected and skilled supply partner with a proven track record," said Plug CEO, Andy Marsh. "This partnership will help us strengthen our supply chain and underpin our ability to deliver on the growing demand for our fuel cells and electrolyzers. With a partner like JM, Plug is in a strong position to be the global leader of the green hydrogen economy."
Liam Condon, CEO of Johnson Matthey, added: "For the rapidly developing hydrogen economy, this partnership is a game-changer. By bringing together one of the largest green hydrogen and fuel cell companies in the world with JM's technology and manufacturing capabilities, we're creating volume and scale for green hydrogen that hasn't existed until now. This partnership confirms JM's world class position in catalyst coated membranes, the key performance-defining components of electrolyzers and fuel cells."
Plug Power has made significant strides in liquid hydrogen development, with an extensive fuelling station footprint, over 60,000 fuel cell systems and a billion hours of use around the world. The company is developing a complete green hydrogen ecosystem, to aid corporate clients - like Amazon, Carrefour, Walmart and BMW - meet their sustainabilitygoals and cut back carbon emissions.
Johnson Matthey (JM) has been a front-runner in the hydrogen field for years, founded on its prowess in platinum group metal (PGM) chemistry and catalysis. Its Hydrogen Technologies sector already has substantial customer ties and a 2GW manufacturing capacity. It plans to raise the output to 5GW with a 3GW factory in Royston, UK. As a preeminentsecondary refiner of PGMs, JM has forged a circular business model for the precious metals, to be used for this deal. Thecompany is also researching further closed loop solutions.