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(Sharecast News) - Johnson Matthey said on Wednesday that it has entered into a strategic partnership with German energy technology company Enapter as it looks to expand its presence in green hydrogen.
As part of the partnership, JMAT will invest €20m in Enapter for a 4.3% stake.
The specialty chemicals group described Enapter as a "pioneer and commercial leader in AEM electrolysis". AEM is a next generation electrolyser technology that promises to drive down the cost of green hydrogen towards a point where it becomes competitive with fossil fuels.
The partnership will include collaborating on the joint development of advanced components for Enapter's AEM stacks. Specialised catalysts will also be supplied.
The company's chief executive, Liam Condon, said: "Our ambition is to become the global leader in green hydrogen technologies and to diversify our technology base in this booming market, both in the electrolyser and fuel cell markets.
"This strategic partnership is at the heart of our strategy as we focus our resources on growth areas targeted at climate change solutions. Working with Enapter is a great opportunity for us to accelerate and further expand in green hydrogen and deliver on our vision for a cleaner, healthier world."
