Johnson Matthey Fuel Cells
Johnson,Matthey PLC
08 November 2002
For Release at 7.00 am Friday 8th November 2002
Johnson Matthey Fuel Cells Limited
Johnson Matthey announces that Anglo Platinum has taken a 17.5% stake in its
fuel cell components subsidiary, Johnson Matthey Fuel Cells Limited.
Johnson Matthey and Anglo Platinum have for many years collaborated on research
and development into fuel cell components and enabling technologies, under a
long-term agreement announced in May 1993. Anglo Platinum has agreed to
contribute its share of the intellectual property rights (IPR) and know-how
which has been developed under that agreement, together with a £20 million
payment, in return for the 17.5% stake in the new company.
Johnson Matthey Fuel Cells Limited will manufacture and market all the fuel cell
components currently being developed by Johnson Matthey including membrane
electrode assemblies, fuel processors and fuel cell catalysts. It will continue
to be managed as part of the Johnson Matthey group and purchase services from
other parts of the group. The relationship with Anglo Platinum will also give
the fuel cell business improved access to future platinum supplies.
Chris Clark, Chief Executive of Johnson Matthey commented, 'This is another
milestone in the commercialisation of our fuel cell technology. The new
structure ensures that all the technology jointly developed by Johnson Matthey
and Anglo Platinum is owned by our fuel cell subsidiary. We are delighted to
continue our partnership with Anglo Platinum in this exciting new business which
will become a major user of platinum in the future.'
Neil Carson, Executive Director of the Catalysts & Chemicals Division of Johnson
Matthey, added, 'Several of our key customers have made announcements in recent
months about their own plans to commercialise fuel cell products. We have
nearly completed phase 1 of our investment in MEA production at Swindon designed
to support these customers, and phase 2 will not be far behind. This is a good
time for us to crystallize our longstanding relationship with Anglo Platinum in
fuel cells'
Enquiries:
John Sheldrick Group Finance Director 020 7269 8438
David Morgan Group Corporate Development Director 020 7269 8405
Ian Godwin Group Corporate Communications Manager 020 7269 8410
Howard Lee Gavin Anderson & Co 020 7554 1400
Notes for Editors:
Johnson Matthey Plc is a speciality chemicals company focussed on its core
skills in precious metals, catalysts and fine chemicals. The group's principal
activities are the manufacture of autocatalysts and pollution control systems,
catalysts and components for fuel cells, pharmaceutical compounds, process
catalysts and speciality chemicals; the refining, fabrication and marketing of
precious metals; and the manufacture of colours and coatings for the ceramic,
glass, paint and plastics industries. Its close relationship with Anglo Platinum
dates back over 70 years.
The Anglo Platinum Group is the world's leading primary producer of platinum
group metals. The group comprises the holding company (Anglo Platinum) and its
wholly owned subsidiaries: Rustenburg Platinum Mines, Potgietersrust Platinums
Limited and Lebowa Platinum Mines Limited. Anglo Platinum is listed on the
Johannesburg and London stock exchanges.
Fuel cells generate power by combining hydrogen and oxygen to produce
electricity, heat and water. They use an electrochemical process to produce a
direct current, without combustion and without moving parts. Fuel cells thus
provide a means of generating power cleanly, quietly and efficiently near to its
point of use and offer the prospect of zero emissions transport.
Johnson Matthey has committed many years of effort to developing fuel cell
technology and continues to make major investments in its fuel cell business.
Today it is the world's leading producer of catalysts and catalysed components
for fuel cells.
In April 2000, Johnson Matthey Fuel Cells was formed as a separate business unit
within the Catalysts & Chemicals Division dedicated to the development and
manufacture of catalysts, membrane electrode assemblies (MEAs), fuel processors,
and catalysed components for low temperature fuel cell systems. Johnson Matthey
Fuel Cells is expanding rapidly and today employs more than 150 people in its
research and manufacturing facilities in Europe, the USA and Japan. It is
currently constructing a dedicated manufacturing facility for MEAs (the key
component at the heart of a proton exchange membrane fuel cell) in Swindon, UK.
This information is provided by RNS
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