Plug Power, Johnson Matthew partner to meet fuel cell, electrolyzer demand
By Becky Schultz31 January 2023
Plug Power (Plug), a global provider of turnkey hydrogen solutions, and Johnson Matthey (JM) have announced a long-term partnership in which JM, a leading provider of sustainable technologies, will become a strategic supplier of Membrane Electrode Assembly (MEA) components to Plug, fulfilling a substantial portion of its demand for catalysts, membranes and catalyst coated membranes (CCM), the key components of electrolyzers and fuel cells.
To support Plug in achieving targeted revenues of $5 billion USD by 2026 and $20 billion USD by 2030, the two companies will also co-invest in what they said is expected to be the largest CCM manufacturing facility in the world, starting at 5 GW and scaling to 10 GW over time. Located in the U.S., the facility will likely begin production in 2025. In addition, the companies will continue to leverage government incentives under the U.S. Inflation Reduction Act and REPowerEU in Europe.
“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,” said Andy Marsh, Plug Power CEO. “With a partner like JM, Plug is in a strong position to be the global leader of the green hydrogen economy.”
Liam Condon, CEO, Johnson Matthey, described the partnership as 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,” he stated.
As a leading secondary refiner of platinum group metal (PGM) chemistry and catalysis, JM has developed a circular business model for the scarce metals that will also be employed for this contract and will look to develop further closed loop solutions.