The cash boost is recognised as the biggest single investment for a UK company researching hydrogen-based energy and re-usable technology of its kind.
This new financing is additionally a part of new plans to scale the hydrogen industry within the UK and will help achieve the newly released targets of 10GW of low-carbon hydrogen production by 2030.
As well as this, Johnson Matthey will use the loan to invest in the latest research and development into sustainable technologies across the globe with hydrogen recognised as a crucial aspect of this.
Anne-Marie Trevelyan, UK International Trade Secretary, said, “Investments in Hydrogen technologies will blast domestic energy production higher than ever – securing the future supply of cleaner energy at home and helping us to export abroad.
“This will make for a healthier, wealthier future for the UK while protecting the planet.”
Stephen Oxley, Chief Financial Officer at Johnson Matthey, said, “The announcement today demonstrates the strength of JM’s commitment to sustainability goals and targets announced last year. The loans will help support the significant investment we are making to help create a cleaner, healthier world.”
Johnson Matthey has been on a 200+ year journey from being a pioneer in the application of precious metals to a global leader in science for a cleaner, healthier world. With a long history in the refining of platinum group metals dating back to 1817, today Johnson Matthey’s science and research touches some of the most pressing challenges faced by our planet and its people.
With the need to address climate change and reach net zero, it is clear emissions must be cut drastically from all areas of life, including sectors that are difficult to abate, such as heavy industry, heavy-duty vehicles, buses, trains and aviation. And with increasing recognition that hydrogen will play an important role in transforming these sectors, comes the challenge of deploying the technology at scale to support the shift to a hydrogen economy.
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