The companies will co-invest in a 5GW catalyst coated membrane (CCM) manufacturing facility, with plans to scale the site to 10GW over time, which the partners say could be the ‘largest’ of its kind in the world.

Set to be established in the US, the facility is likely to begin production in 2025 and is aimed at supporting Plug in delivering its targeted revenue of $5bn and $20bn by 2026 and 2030 respectively.

Under the partnership, Johnson Matthey will become an important supplier of membrane electrode assembly (MEA) components, providing a “substantial portion” of Plug’s demand for catalysts, membranes, and CCMs.

H2 View understands Johnson Matthey and Plug will also continue to leverage from Government incentives from the US Inflation Reduction Act and REPowerEU Plan to push for “exponential growth across the hydrogen industry.”

Read more: Landmark US Tax and Climate bill offers tax credits for clean hydrogen production

Read more: REPowerEU: €34-49bn needed for hydrogen infrastructure

Plug Power CEO, Andy Marsh said the new partnership will help the company strengthen its supply chain and underpin its ability to meet the growing demand for fuel cells and electrolysers.

Marsh commented, “With a partner like JM, Plug is in a strong position to be the global leader of the green hydrogen economy.”

Plug and Johnson Matthey in 2021 announced they had signed a Memorandum of Understanding (MoU) to develop a roadmap to accelerate the joint development of high-performance electrolyser technology.

Read more: Johnson Matthey, Plug Power to accelerate electrolyser technology with new MoU

Liam Condon, CEO of Johnson Matthey, added, “By bringing together one of the largest green hydrogen and fuel cell companies in the world with Johnson Matthey’s technology and manufacturing capabilities, we’re creating volume and scale for green hydrogen that hasn’t existed until now.”