The two companies have signed a deal to secure supply and meet the growing demand for fuel cells and electrolysers.
It is a strategic and long-term partnership that the two companies have signed. Similarly to car manufacturers trying to secure supplies of batteries and metals, Plug will rely on Johnson Matthey to supply MEAs* and CCMs** as well as their components (including platinum and catalysts). The group has the capacity to supply these resources, including precious metals, and to recycle them.
Through this alliance, Plug will be able to fuel its ambitions of achieving $5 billion in sales by 2026 and $20 billion by 2030. The two companies will also invest in the world’s largest plant for CCMs (which are at the heart of electrolysers). It will be located in the United States and should start up in 2025.
*MEA: Membrane Electrode Assembly
**CCM: Catalyst Coated Membranes
Article written by Laurent Meillaud and translated by Logan King
