With over half a million ounces of platinum group metals produced in 2021, the Elemental Holding Group managed to increase its output by 25 percent compared to 2020. Access to PGMs is crucial for the development of strategic technologies, such as hybrid vehicles and hydrogen economy.
A rapid development of the PGM segment is one of the pillars of the Elemental Holding Group’s growth. In the US market alone, the Group has invested over USD 100 million in recent quarters. As a result of three transactions, it acquired an extensive network of several facilities all over the United States, as well as a state-of-the-art processing plant and a chemical laboratory. The Group has also strengthened its potential in the PGM segment in key European markets, in the Middle East, and in Southeast Asia.
“The changes in the global PGM market give us a chance to gain a leadership position in the industry. Up until now, the demand for platinum, palladium and rhodium has been driven mainly by new emission standards for gasoline and diesel vehicles, where these metals are widely applied in catalytic converters. As the hybrid and zero-emission vehicles market is coming into prominence, the demand for PGMs will only be rising. Access to platinoids will also facilitate the hydrogen economy due to their use in fuel cell electric vehicles and key role in the production of ‘green’ hydrogen” – commented Krzysztof Spyra, COO PGM and M&A.
The International Renewable Energy Agency (IRENA) enviges in its World Energy Transitions Outlook that hydrogen sources could meet up to 12 percent of final energy consumption by 2050. According to these estimates, the world will need by that time up to 158 million tonnes of green hydrogen a year, with over 30 percent of that output being traded across borders (a higher share than natural gas today). By 2050, hydrogen could be a USD 2.5 trillion industry with a total workforce of 30 million people.
“The recycling of raw materials is key to the expansion of the EV market and the hydrogen economy. As Elemental Holding, we produce metals in a way that is fully sustainable and based on the highest ESG standards. We also develop our own technologies that fuel the growth of green industries. We focus not only on the green production of PGMs but also on the recovery of used lithium-ion batteries. Next year, we plan to open the EU’s first installation for the recycling of these batteries, which will significantly increase the potential of the EV sector across Europe” – added Krzysztof Spyra.
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