Parradee Kietsirikul/iStock via Getty Images
- 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.