Platinum as an Alternative to Battery Metals in Fuel Cell Electric Vehicles

A strong availability of platinum can play a crucial role in alleviating supply pressures on battery metals in the era of energy transition, according to Johnson Matthey, a leading chemicals and sustainable-technologies company.

The concerns surrounding critical minerals for the energy transition have predominantly focused on battery metals. However, Johnson Matthey believes that fuel cells present a significant opportunity, citing the company’s ample supply of platinum.

In an interview, Margery Ryan, the market research manager at Johnson Matthey, expressed her optimism: “We feel there is a significant opportunity for fuel cells as we have good availability of platinum.”

While countries and companies alike have been actively seeking supplies of essential materials like lithium, cobalt, and nickel for battery-electric vehicles, new sources are now being explored. For example, Indonesia is tapping into nickel laterites, while Argentina is harnessing lithium brine deposits. However, these alternative sources have faced scrutiny due to their environmental impact.

The availability of platinum offers an alternative pathway for reducing reliance on battery metals in the context of fuel cell electric vehicles. With consumers making the shift from combustion engines, this could potentially ease supply pressures and contribute to a more sustainable future.

Platinum Group Metals: Key Players in the Energy Transition

Platinum group metals, mined extensively in South Africa, are poised to play a pivotal role in the global energy transition. According to industry expert Ryan, both platinum and iridium are crucial for hydrogen production – a key component of renewable energy solutions. Unlike many battery metals, platinum supply is abundant, with substantial reserves both above and below ground. This bodes well for sourcing minerals required for sustainable energy technologies.

A Mix of Technologies: The Path Forward

Ryan emphasizes that there is no one-size-fits-all solution to the energy transition. “We are going to need a mix of technologies,” she affirms. In particular, heavy-duty vehicles like trucks and buses are ideal candidates for hydrogen usage. Fuel cells powered by hydrogen offer superior driving range compared to batteries, making them an attractive choice for such transportation needs.

Analyzing the Demand Dynamics

The demand for platinum has been closely scrutinized in recent years, primarily driven by the automotive catalyst market. As the phasing out of combustion engines accelerates, the demand from gasoline cars is expected to decline accordingly. However, analysts predict that increased efficiency and reduced demand for combustion engines will ensure a robust supply of platinum for the energy transition. Ryan highlights its positive outlook.

Unlocking South Africa’s Potential

While South African miners and refiners face power-related challenges, investing in scaling up production could unlock the country’s vast potential in platinum group metals. Ryan firmly believes that the geology itself is not the limiting factor; rather, it’s the availability of investment that determines feasibility. Addressing power issues and channeling resources into this sector would make South Africa a formidable force in meeting global demand.

In summary, platinum group metals are primed to be a critical component of the energy transition. With their unique properties and abundant supply, platinum and iridium can drive the adoption of hydrogen-based technologies. As the world embraces sustainable energy solutions, it is imperative to recognize the value of platinum group metals and invest in their production for a greener future.