Johnson Matthey to invest £1bn in hydrogen
Firm is also ending investment in batteries as it pivots to other areas
Technology firm Johnson Matthey has pledged to invest £1bn ($1.3bn) into clean hydrogen research, development and deployment technologies by 2030 while ending investment in its battery materials division. Although demand for battery materials is accelerating, the firm says competition from alternative technologies is making the market commercially unattractive. The adoption of mid-nickel and lithium iron phosphate technologies by other manufacturers is driving down the price of batteries, reducing returns. Johnson Matthey also believes its capital intensity is too high compared with other low-cost, high-scale manufacturers. “We already have a leadership position in the hydrogen technol
Also in this section
28 March 2024
Investment landscape is firming up in North African country with potential to become one of the world’s major exporters
22 March 2024
German energy firm and Canada-based Pattern Energy aim to ship green ammonia to Hamburg in latest move to secure imports to Europe’s largest economy
22 March 2024
French company prepares for commercial launch of underground storage system to be deployed at green hydrogen production and consumption sites
21 March 2024
Region has competitive edge in low-carbon hydrogen, but infrastructure and export challenges are key roadblocks to overcome