Johnson Matthey to invest £1bn in hydrogen

Firm is also ending investment in batteries as it pivots to other areas

Technology firm Johnson Matthey has pledged to invest £1bn ($1.3bn) into clean hydrogen research, development and deployment technologies by 2030 while ending investment in its battery materials division. Although demand for battery materials is accelerating, the firm says competition from alternative technologies is making the market commercially unattractive. The adoption of mid-nickel and lithium iron phosphate technologies by other manufacturers is driving down the price of batteries, reducing returns. Johnson Matthey also believes its capital intensity is too high compared with other low-cost, high-scale manufacturers. “We already have a leadership position in the hydrogen technol