Johnson Matthey (JM) is charting a new path to growth by embracing the clean technology sector, even after facing challenges during the pandemic and setbacks in 2021 and 2022. The company has strategically shifted from traditional automotive catalytic converters to technologies that support the green energy transition, positioning itself as a leader in the hydrogen economy.
Johnson Matthey's Clean Energy Transition
The company has returned to its core strength—platinum group metal (PGM) chemistry—and is leveraging this expertise to develop innovative, sustainable technologies. PGM-based solutions are increasingly in demand for creating low-carbon fuels, fuel cells, and electrolyzers that convert hydrogen into clean energy, aligning JM with the shift toward a hydrogen economy.
Low Carbon Hydrogen (LCH) Process for Green Hydrogen Production
One of JM's major advancements is the Low Carbon Hydrogen (LCH) process, which produces blue hydrogen by reforming natural gas and capturing carbon dioxide. The technology is part of the UK’s HyNet North West project, which aims to significantly reduce carbon emissions from industrial sectors. The LCH process is highly efficient, requiring 40% less space and consuming 10% less energy compared to competing hydrogen production technologies, making it an attractive option for clean hydrogen production.
HyCogen and Syngas for a Low-Carbon Future
Johnson Matthey's clean technology efforts include HyCogen, a process that reacts captured CO2 with hydrogen to produce syngas, which can be further converted into fuels and chemicals. The company is collaborating with BP, Aramco, and Repsol to use these processes for synthetic fuel production, positioning JM as an innovation leader in the cleantech space.
Fuel Cell and Electrolyzer Market Expansion
JM is also making strides in the fuel cell and electrolyzer market by using its expertise in PGM chemistry to help scale proton-exchange membrane (PEM) electrolyzers. These electrolyzers are crucial for the hydrogen revolution, promising to improve efficiency and scalability. JM's acquisition of a stake in Enapter, a developer of anion-exchange membrane electrolyzers, demonstrates its commitment to exploring cutting-edge clean hydrogen technologies.
Johnson Matthey's Future in the Hydrogen Economy
While there are hurdles, such as the decline in its catalytic converter business, Johnson Matthey's new CEO, Liam Condon, is steering the company with a clear focus on cleantech innovation. JM has ambitious goals, including expanding production capacity for fuel cell catalysts and completing a catalyst-coated membrane (CCM) plant in the UK, ensuring its place as a key player in the green energy transition.
A Promising Path to Long-Term Success
With a growing pipeline of projects, increased collaborations, and recent contract wins, Johnson Matthey is well-positioned for the future. As the world moves toward sustainable energy solutions, JM's focus on catalytic innovation in clean technology and hydrogen production could be the key to its long-term success.
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