Buying fuel cells

Anglo Platinum has acquired a 17.5% stake in Johnson Matthey Fuel Cells Limited, the fuel cell components subsidiary of speciality chemicals company Johnson Matthey.

Anglo Platinum has contributed its share of the intellectual property rights, developed under an existing long-term research and development agreement with Johnson Matthey, and will make a £20 million payment in return for the 17.5% stake.

Barry Davison, executive chairman of Anglo Platinum commented, ‘The development of fuel cells is a logical extension to our strategy of growing the market for platinum group metals. Fuel cells will drive the long-term demand for platinum and this strategic holding will provide commercial returns as well as stimulate demand.’

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