JMPLY - Johnson Matthey signs deal with Jiading District to increase green hydrogen production in China

2023-07-12 07:48:39 ET

• Johnson Matthey ( OTCPK:JMPLY ) has signed an investment deal with the Jiading District in Shanghai to help accelerate the hydrogen economy in China.
• The alliance to build a new catalyst-coated membrane (CCM) production facility will provide CCM production capability for multiple proton exchange membrane fuel cell applications and PEM electrolysers.
• The new production facility will enable Johnson Matthey to supply existing Chinese and international customers with locally produced CCMs.
• The facility is due to be operational in 2025, with an initial capacity of up to 5GW in the Jiading district of Shanghai.
• Backed by customer demand, the investment is part of Johnson Matthey's ( OTCPK:JMPLY ) £1.1 billion global stated capital expenditure for the three years to 2024/25 and will include government support and incentives.

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