Anglo American Platinum invests $4 million into fuel cell electric vehicle value chain

Anglo American Platinum has announced that it is investing $4 million to help reduce the delivered costs of hydrogen and support the development of hydrogen refueling stations for fuel cell electric vehicles (FCEVs) in the north-east corridor of the United States. The investment in United Hydrogen Group (UHG), a hydrogen production and distribution business in the United States, is aimed at bolstering the demand for platinum, which is used in FCEVs.

This forms part of Anglo American Platinum’s PGM Investment Programme, which provides early-stage and growth capital to companies that can demonstrate the commercial viability of their products or of a technology that in turn consumes or enables the consumption of PGMs.

Hydrogen powered FCEVs play a critical role in reducing vehicle emissions and will drive increased demand for platinum by the automotive industry.

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