Johnson Matthey scales back near-term hydrogen play, keeps green for long run
Johnson Matthey (JM) has confirmed it is retaining its green hydrogen and fuel cell technologies, while selling off its blue hydrogen business to Honeywell, as the company distances itself from near-term hydrogen opportunities.
Liam Condon explained in JM’s recent earnings call that the hydrogen market has not developed as quickly as hoped, leading to significant write-downs, but added that JM still sees long-term potential in the sector.
Instead, green hydrogen operations have been folded into JM’s Clean Air business to streamline overheads and align with major customers.
The CEO explained, “For example, Bosch is a hugely important customer for us. We service Bosch primarily out of Clean Air. So, there’s a strong customer interface there. And basically, what we did was put Hydrogen Technologies under the leadership of Clean Air.”
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