Earlier this year, the British technology company had set the goal of becoming “market leader in power components for fuel cells and electrolyzers” and achieving an over 200 million pounds turnover with H2 technologies by the end of 2024. As part of this, numerous highly qualified manufacturing jobs are to be created by the first half of 2024.
The British government has pledged support out of the Automotive Transformation Fund (ATF) so that components for 3 GW in PEM fuel cell stacks for hydrogen vehicles can be produced annually. The United Kingdom is forecast to require 14 GW in fuel cell stacks and 400,000 high pressure carbon fiber tanks annually by 2035.
Liam Condon, Chief Executive of Johnson Matthey, stated, “Decarbonising freight transportation is critical to help societies and industries meet their ambitious net zero emission targets. Fuel cells will be a crucial part of the energy transition.” The British economic minister, Kwasi Kwarteng, said, “We are working hard to ensure the UK reaps the benefits of the green industrial revolution, and today’s announcement reaffirms UK’s reputation as one of the best locations in the world for high quality auto manufacturing.”
