Platinum supply will not inhibit hydrogen sector

High stocks and efficient automotive recycling sector mean FCEVs have high ceiling for growth

Platinum availability is unlikely to be a barrier to the deployment of a hydrogen economy, according to a recent white paper from UK technology company Johnson Matthey. Platinum is used in the manufacture of both proton-exchange-membrane (PEM) electrolysers and fuel-cells. Concerns over global supply chains in 2022 led the Biden administration to take action to secure domestic supply to support its growing hydrogen economy. The latest supply and demand data from the World Platinum Investment Council (WPIC) forecasts a record platinum market deficit of almost 1m oz in 2023. The deficit is a result of strong 28% year-on-year growth in demand in combination with a constrained outlook for supply