Umicore to invest in setting up a large-scale fuel cell catalyst plant in China
Umicore has announced that it will invest in building a large-scale fuel cell catalyst plant in Changshu in China to capture the fast-emerging growth in fuel cell technology.
The plant will enable the accelerated transformation to hydrogen-based clean mobility, serving demand through 2030. The greenfield facility is planned and prepared to be carbon neutral from the start and will contribute to reducing scope 3 emissions in the value chain.
Located in the northwest of Shanghai, the facility is expected to become operational by the end of 2024 and will be scalable to align with the growth of our customers. It will reinforce Umicore's leading technology and market position in Proton Exchange Membrane (PEM) fuel cell catalysts and complement Umicore's current pioneering production and R&D facilities in Germany and Korea.
Bart Sap, Executive Vice President of Umicore's Business Group Catalysis said "Over the past 30 years, we've successfully grown to become a market leader in fuel cell catalyst technology. With this new large-scale plant in China, we will be ready to cater to growing demand from our customers, in a market expected to expand 12-fold towards 2030 and accelerate beyond."
Umicore, as part of its circular business model, also recycles fuel cell catalysts to re-use their metals such as platinum, for fresh fuel cell catalyst production, reducing their Scope 3 CO2 footprint. Fuel cell catalysts will be mainly used for long-haul, heavy-duty vehicles and to a smaller extent in mid-to light-duty vehicles.