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Anglo American Platinum invests $4 million into fuel cell electric vehicle value chain

29 January, 2016

Anglo American Platinum has announced that it is investing $4 million to help reduce the delivered costs of hydrogen and support the development of hydrogen refueling stations for fuel cell electric vehicles (FCEVs) in the north-east corridor of the United States. The investment in United Hydrogen Group (UHG), a hydrogen production and distribution business in the United States, is aimed at bolstering the demand for platinum, which is used in FCEVs.

This forms part of Anglo American Platinum’s PGM Investment Programme, which provides early-stage and growth capital to companies that can demonstrate the commercial viability of their products or of a technology that in turn consumes or enables the consumption of PGMs.

Hydrogen powered FCEVs play a critical role in reducing vehicle emissions and will drive increased demand for platinum by the automotive industry.

The investment in UHG aims to reduce the delivered costs of hydrogen and will support the development of hydrogen refueling stations in the north-east corridor of the United States. UHG’s business and its ambitious plans for growth are complementary to Anglo American Platinum’s existing portfolio of investments. UHG will work closely with Hydrogenious Technologies, a PGM Investment Programme partner, on delivered hydrogen logistics and costs. Together these companies can reduce the cost of ownership for FCEVs, laying the foundation for mass adoption of this zero emissions technology.

Andrew Hinkly, Executive Head of Marketing at Anglo American Platinum, said, “We ultimately want to reduce the cost of delivered hydrogen and increase access to hydrogen refueling stations. Our investment in UHG goes a long way to achieving both of these goals and supporting development of the FCEV market.”

Vladmir Perad, CEO of United Hydrogen Group, said, ‘“We are excited to partner with Anglo American Platinum and this investment will allow us to accelerate our participation in the hydrogen infrastructure build-up in the U.S. and provides us with capital to commercialize disruptive technology for the storage and delivery of hydrogen.”

Anglo American Platinum also has investments in two global fuel cell companies, Ballard Power Systems and Altergy Systems.

About United Hydrogen Group

United Hydrogen Group (UHG) is an imaginative hydrogen production and distribution business based in the United States. UHG currently distributes gaseous and liquid hydrogen to its industrial customers and owns a hydrogen refueling station in New York. UHG has ambitious plans to introduce new technologies to the hydrogen distribution market and open new frontiers for hydrogen refueling infrastructure for fuel cell electric vehicles.

For further information, please contact:

Investors: Media:
Emma Chapman
Head of Investor Relations
Tel: +27 (0)11 373 6239
[email protected]
Mpumi Sithole
Tel: +27 (0)11 373 6246
[email protected]

About Anglo American Platinum

Anglo American Platinum Limited is a member of the Anglo American plc Group and is the world’s leading primary producer of platinum group metals. The company is listed on the Johannesburg Securities Exchange (JSE). Its mining, smelting and refining operations are based in South Africa. Elsewhere in the world, the Group owns Unki Platinum Mine in Zimbabwe. Anglo American Platinum has a number of joint ventures with several historically disadvantaged South African consortia as part of its commitment to the transformation of the mining industry. Anglo American Platinum is committed to the highest standards of safety and continues to make meaningful and sustainable difference in the development of the communities around its operations.

www.angloamericanplatinum.com

Anglo American is a global and diversified mining business that provides the raw materials essential for economic development and modern life. Our people are at the heart of our business. It is our people who use the latest technologies to find new resources, plan and build our mines and who mine, process and move and market our products – from bulk commodities and base metals to precious metals and diamonds (through De Beers) – to our customers around the world. Our diversified portfolio of products spans the economic development cycle and, as a responsible miner, we are the custodians of precious resources. We work together with our key partners and stakeholders to unlock the long-term value that those resources represent for our shareholders, but also for the communities and countries in which we operate – creating sustainable value and making a real difference. Our mining operations, growth projects and exploration and marketing activities extend across southern Africa, South America, Australia, North America, Asia and Europe.

www.angloamerican.com