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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".
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.
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Enquiries:
Johnson
Matthey
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
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