REG - Johnson Matthey PLC - Johnson Matthey and Hystar strategic partnership

Johnson MattheyAnnouncement

22/05/2023 07:00

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RNS Number : 1082A  Johnson Matthey PLC  22 May 2023

 

Johnson Matthey and Hystar agree strategic partnership in renewable hydrogen
production

22(nd) May 2023

 

 

·      Johnson Matthey and Hystar have signed a three-year strategic
supply agreement to ramp up renewable (green) hydrogen production

 

·      Delivers on published milestone of winning at least two strategic
partnerships in Hydrogen Technologies

 

Johnson Matthey (JM), a global leader in sustainable technologies, and Hystar,
a Norwegian high-tech hydrogen company, have signed a three-year strategic
supply agreement to ramp up renewable (green) hydrogen production. This
delivers on JM's published milestone of winning at least two strategic
partnerships in Hydrogen Technologies.

JM will supply membrane electrode assemblies (MEAs), key performance-defining
components for electrolysers, as part of Hystar's commercialisation ramp-up.
This represents the next step in the collaboration between the two companies
which began in 2021, focused on electrolyser stack development and
manufacturing scale-up, using the components provided by JM and Hystar's
patented cell design.

As part of the ongoing collaboration, JM will supply MEAs for the Hystar PEM
electrolysers to be used in the HyPilot project in Norway. The HyPilot project
will verify Hystar's patented PEM technology under realistic field conditions,
in collaboration with industry leaders Yara and Equinor, with end market
demand driven by the trends in food production and energy security. As part of
the project, Hystar will deliver a complete, autonomous, containerized PEM
electrolyser with a hydrogen production capacity of up to 745 kg/day.

Hystar's recent test results show the company already exceeds the Clean
Hydrogen for Europe 2030 targets for clean hydrogen production. Hystar and JM
will work in partnership to continue improving the performance of Hystar's
electrolysers and design circularity principles into the system.

Both partners will continue the collaboration to enable further scale up and
automation for Hystar's planned multi-GW production line, which is expected to
be operational by 2025.

Mark Wilson, Chief Executive of Hydrogen Technologies at JM, says: "This
strategic agreement with Hystar is an important endorsement of JM's
electrolyser technology, manufacturing capability, supply chain access and our
circularity offering. Partnerships such as this that bring together
complementary capabilities and strengths of different organisations are
essential to the development of the hydrogen economy."

Fredrik Mowill, Chief Executive Officer at Hystar, says: "Hystar's
class-leading PEM electrolyser is currently undergoing a ramp-up to GW scale
production capacity. As part of our growth plans, Hystar will partner with
strategic suppliers, such as JM, who possess state-of-the-art technology, mass
manufacturing capacity as well as the ability to pursue future technology
developments."

 

ENDS

 

Notes to editors:

 

Terminology

Membrane Electrode Assemblies (MEAs) contain seven layers - the
catalyst-coated membrane (three layers); seals (two further layers); and gas
diffusion layers (another two additional layers, giving total of seven
layers). As such, MEAs contain the three-layer catalyst-coated membrane (CCM)
which is JM's primary area of focus and drives the electrochemical reactions.

About Johnson Matthey

Johnson Matthey is a global leader in sustainable technologies, catalysing the
net zero transition. With over 200 years of sustained commitment to innovation
and technological breakthroughs, we improve the performance, function and
safety of our customers' products. Our science has a global impact in areas
such as low emission transport, energy, chemical processing and making the
most efficient use of the planet's natural resources. Today, about 13,000
Johnson Matthey professionals collaborate with our network of customers and
partners to make a real difference to the world around us. For more
information visit www.matthey.com
(https://eur01.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.matthey.com%2F&data=05%7C01%7CAndrew.Bain%40matthey.com%7C425b86ede97d417af9e708dab0fcb2a4%7Ccc7f83ddbc5a46829b3e062a900202a2%7C0%7C0%7C638016896626024462%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=49q8f%2F08FWNRNGKMb31byVlL%2B3SL0UAXRDccqmRsKng%3D&reserved=0)

 

About HyStar

Hystar AS, is a Norwegian high-tech innovative hydrogen company. Hystar's PEM
electrolysers are the most efficient and safest in the world and have been
designed for mass manufacturing from the very beginning. The ultra-efficient
design, which is patented and unique to Hystar, enables their stack designs to
use a 90% thinner membrane than conventional electrolysers, enabling more than
10% lower energy consumption and more compact stacks using less critical raw
materials than the industry standard.

Hystar recently announced a Series B funding round of $26million co-led
by AP Ventures and Mitsubishi Corporation with additional investors
including Nippon Steel Trading, Hillhouse Investment and Trustbridge
Partners, alongside existing investors SINTEF Ventures and Firda.

 

 

 Enquiries:

 Investor Relations

 Martin Dunwoodie                             Director of Investor Relations      +44 20 7269 8241

 Louise Curran                                Senior Investor Relations Manager   +44 20 7269 8235

 Carla Fabiano                                Senior Investor Relations Manager   +44 20 7269 8004

 Media

 jmpr@matthey.com (mailto:jmpr@matthey.com)

 +44 207 269 8001

Johnson Matthey Plc is listed on the London Stock Exchange (JMAT)

Registered in England & Wales number: 00033774

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