By now, we are familiar with the supply and demand debate around critical raw materials to support the energy transition away from fossil fuels to sustainable alternatives. We face unprecedented demand for materials essential for the development of clean energy technologies, but it’s important to understand the value chain of each energy metal in its entirety so as not to derail the deployment of technologies that will help achieve Net Zero sustainably and with the required urgency.
Platinum is one of these critical materials, essential for fuel cell electric vehicles (FCEVs) and other technologies like PEM electrolysers and fuel cell stationary power systems. Unlike many other critical metals, however, platinum is ready and available for this large new energy transition market. It benefits from established and highly regulated mining supply, effective global recycling networks, and strong above-ground stock levels. Further, natural shifts in demand will mean that existing platinum supply can accommodate the scaling up of hydrogen technologies to mass production levels.
In the context of increasingly apparent constraints on many other metals critical for the energy transition, platinum presents a valuable opportunity, and it must be seized.
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