Could hydrogen-powered fuel cell vehicles be the PGM industry of tomorrow?

• Metals Focus’s flagged that PGM demand is set to grow with inexperienced hydrogen
• Platinum is also a major element in hydrogen gas cells for
• WA initiatives could be properly positioned to profit as the planet appears to be for moral resources

There’s been a political change this yr in the direction of renewable vitality adoption and electricity protection – exacerbated by Russia’s invasion of Ukraine.

This has led to a spotlight on the hydrogen sector, primarily green hydrogen created by renewable energy.

And some of this is anticipated to spill about into need for platinum team things (PGMs).

Metals Aim flagged in its Platinum Group Metals Target 2022 report that the Global Power Company (IEA) has estimated that hydrogen electrolyser capability could exceed 300MW and that 350 tasks in development that could bring as much as 54GW ability on stream by 2030.

“If realised, this could final result in existing electrolyser demand from customers of a handful of thousand ounces of PGM demand turning out to be several hundreds of countless numbers by the finish of the decade,” the report mentioned.

 

Generally utilised in ye olde interior combustion engines

Proper now, the main use of platinum and palladium is as catalysts to clean nitrous oxides out of internal combustion engines (ICE).

But with the EU banning new ICE motor vehicle income by 2035, there’ll be a new job for platinum in the hydrogen sector by using the the proton exchange membrane (PEM) electrolyser – which requires a compound of iridium on its anode and platinum on its cathode.

“Currently, the biggest purchaser of PGMs inside of the hydrogen sector is stationary and portable fuel cells, made use of to power properties, momentary encampments, as an unexpected emergency energy source, or interruptible ability source for info centres,” Metals Concentrate suggests.

“PEM and phosphoric acid gas cells are both of those PGM-based mostly, collectively accounting for just in excess of 50 % of the output in megawatts (MW) these days, with PGM-absolutely free stable oxide gasoline cells making up the bulk of the remainder.”

 

Desire could be stretched amongst two worlds

Platinum is also a important part within hydrogen gas cells for perhaps zero carbon emission autos – and could be a practical substitute to battery electric cars.

Metals Target suggests that by conclusion-2030, the transport sector could account for more than 50 percent of PGM demand from customers from hydrogen applications, predominantly applying fuel cell technologies, but most likely also in hydrogen combustion engines.

And Podium Minerals (ASX:POD) MD Sam Rodda reckons that, as electric automobiles and hydrogen gas cell motor vehicles choose more than some of the auto industry, PGMs could be stretched to supply both equally previous and new vehicles.

“If combustion autos keep all over for a longer time then it’ll set tension on PGM offer to assistance the two outdated know-how and new technological innovation in cars,” he mentioned.

“If we ramp up hydrogen fuel cells, then the demands notably for platinum as the important use will be stretched, since at the moment, the forecast use of PGMs in a hydrogen gasoline cell auto could be up to 10 instances the volume applied currently as a catalyst in combustion automobiles.”
 

Major obligation hydrogen transport will be the bulk of desire

PGM-based gas cells are presently in steady growth for automotive, teach, marine and aviation industries – and hefty-obligation transport will probable be exactly where the bulk of need arrives from.

“Taking the bulk of demand from customers inside of transport, while, will be large-duty trucks, which boast a major payload potential edge about their battery electric counterparts and are fewer reliant on an ad-hoc refuelling community as is needed by personal autos,” Metals Concentrate states.

“By conclusion-2030, major responsibility trucks are at this time forecast to demand around a quarter of a million ounces of platinum, with most demand staying viewed in China.

“With regards to the mild responsibility business, Japan will dominate, but the full world-wide ounces will be a fraction of weighty duty, forecast in the magnitude of tens of hundreds of ounces.”

 

Ethical sources will be major of thoughts, ‘cos Russia

Russia creates about 40% of world wide provides of palladium and 10% of platinum, and Rodda suggests it’s very likely people will veer in the direction of additional ethical/non-conflict supplies of PGMs.

“We’ve by now viewed the Uk put some restrictions on Russian-sourced PGMs and foundation metals a short while ago, and I imagine also a lot of end end users and downstream consumers of PGMs are sourcing socially liable PGMs globally.

“We anticipate to see some tension in that location and that’s why I imagine Australia is effectively positioned with its growing source of PGM exploration corporations and exploration initiatives, to assistance that desire for socially dependable PGMs.”

 

WA initiatives could be effectively put to benefit

Conversing about Australian PGM players, Rodda reckons WA in specific has an opportunities to create a strong PGM sector.

“With Podium, Chalice (ASX:CHN), Long run Metals (ASX:FME), and even not too long ago, Galileo’s (ASX:GAL)interesting exploration results, usually means we’re well positioned to company foreseeable future gaps in this market place and supply inputs into our have Australian-based mostly hydrogen financial system,” he suggests.

“If we can get to a place exactly where WA can source its individual PGMs from WA or Australia as a result of 1 of our numerous PGM tales, that it’s a good finish to stop story that the condition can seem forward to the next 8 yrs or so.”

POD is drilling to prolong its PGM useful resource at Parks Reef – which now has 2.8 million ounces in inferred source, more than 50 percent of which is platinum.

“We’re looking to double our useful resource in the coming months,” Rodda claimed.

“Then we’ll search toward the review function and metallurgical exam function required to assistance reports to acquiring Australia’s to start with PGM procedure.”

 

 

At Stockhead we tell it like it is. When Podium is a Stockhead advertiser, it did not sponsor this report.