Anglo American to spin out unit to invest in hydrogen
Anglo American to spin out unit to invest in hydrogen
author Added by FuelCellsWorks, May 15, 2018

In a recent Financial Times article, platinum division head Chris Griffith tells the Financial Times that Anglo American is planning to spin out its internal venture capital unit to raise funds to invest in hydrogen technologies such as fuel cells.

Griffith says the spinout will allow the new company to access outside investors as it looks to take stakes in emerging hydrogen start-ups that could push the adoption of fuel cell cars over battery-powered electric cars.

Platinum miners are looking to hydrogen fuel cells as a new source of demand for the metal, as diesel cars that use platinum in their catalysts face an uncertain future due to growing concerns about air pollution; platinum prices currently are at their lowest levels in a decade.