Anglo American Platinum announces its investment alongside Shell Technology Ventures in High-Yield Energy Technologies, a Dutch company that has developed electro-chemical hydrogen compression technology that will support the adoption of fuel cell electric vehicles.
HyET’s technology is a more cost-effective and reliable substitute for mechanical hydrogen compression both in existing industrial applications and in hydrogen refuelling stations.
HyET stimulates demand for platinum directly through use in its products, and indirectly through supporting the adoption of FCEVs which require platinum-based catalysts.
Its revolutionary EHC technology is expected to play a major role in realising a sustainable hydrogen economy.
The company’s latest compressor, the HCS-100, compresses hydrogen by forcing the gas through a platinum-based membrane, to reach pressures of up to 1,000 bar whilst ensuring its simultaneous purification.
With no moving parts, the HCS-100 operates at a fraction of the cost of, and is far more reliable than, current mechanical compressors.
Highly compressed hydrogen can store a large amount of energy, much more than conventional batteries.
As a comparison: a car drives approximately 100 km on 1 kg of compressed hydrogen, whilst it drives a mere 1 km on the energy stored in 1 kg of batteries.
The ability to cost-effectively and reliably compress hydrogen will play an important part in accelerating the adoption of FCEVs and other vehicles such as fuel cell powered trucks and busses.
Thus, by accelerating the commercialisation of HyET’s technology, the investment is aimed at driving demand for platinum directly and indirectly through enabling the adoption of FCEVs, which require platinum-based catalysts.
“We support the commercialisation of new applications that use our metals, particularly those that are synergistic with our business and existing portfolio companies," says Andrew Hinkly, CEO of Anglo American Platinum’s PGM Investment Programme.
"This investment in HyET boosts demand for our metals while simultaneously taking advantage of the accelerating roll-out of HRS and the adoption of FCEVs. Our investment in HyET adds yet another building block to our portfolio of investments aimed at increasing demand for PGMs.”
Peter van Giessel, Shell deal lead, comments, “STV is pleased to support HyET in developing and bringing to market their innovative hydrogen technology. Shell believes hydrogen will play an important role in a low-carbon transport future and HyET is an exciting option to help reduce emissions and improve air quality.”
Rombout Swanborn, CEO of HyET, says, ‘“We are excited to partner with Anglo American Platinum and Shell Technology Ventures. The investment will allow us to accelerate the deployment of our technology across the globe.
"In addition to adding Anglo American Platinum and STV as strategic investors, HyET looks forward to working with Shell, Anglo American Platinum and the other companies in the PGM Investment Programme stable,” he concludes.