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Back to 2018

Anglo American Platinum invests in high-yield energy technologies

18 April, 2018

Anglo American Platinum announces its investment alongside Shell Technology Ventures (STV) in High-Yield Energy Technologies (HyET), a Dutch company that has developed electrochemical hydrogen compression (EHC) technology that will support the adoption of fuel cell electric vehicles (FCEVs). HyET’s technology is a more cost-effective and reliable substitute for mechanical hydrogen compression both in existing industrial applications and in hydrogen refuelling stations (HRS).

HyET stimulates demand for platinum directly through use in its products, and indirectly through supporting the adoption of FCEVs which require platinum-based catalysts. Its revolutionary EHC technology is expected to play a major role in realising a sustainable hydrogen economy. The company’s latest compressor, the HCS-100, compresses hydrogen by forcing the gas through a platinum-based membrane, to reach pressures of up to 1,000 bar whilst ensuring its simultaneous purification. With no moving parts, the HCS-100 operates at a fraction of the cost of, and is far more reliable than, current mechanical compressors.

Highly compressed hydrogen can store a large amount of energy, much more than conventional batteries. As a comparison: a car drives approximately 100km on 1kg of compressed hydrogen, whilst it drives a mere 1km on the energy stored in 1kg of batteries. The ability to cost-effectively and reliably compress hydrogen will play an important part in accelerating the adoption of FCEVs and other vehicles such as fuel cell powered trucks and busses. Thus, by accelerating the commercialisation of HyET’s technology, the investment is aimed at driving demand for platinum directly and indirectly through enabling the adoption of FCEVs, which require platinum-based catalysts.

Andrew Hinkly, CEO of Anglo American Platinum’s PGM Investment Programme, said, “We support the commercialisation of new applications that use our metals, particularly those that are synergistic with our business and existing portfolio companies. This investment in HyET boosts demand for our metals while simultaneously taking advantage of the accelerating roll-out of HRS and the adoption of FCEVs. Our investment in HyET adds yet another building block to our portfolio of investments aimed at increasing demand for PGMs.”

Peter van Giessel, Shell deal lead, commented, “STV is pleased to support HyET in developing and bringing to market their innovative hydrogen technology. Shell believes hydrogen will play an important role in a low-carbon transport future and HyET is an exciting option to help reduce emissions and improve air quality.”

Rombout Swanborn, CEO of HyET, said, ‘“We are excited to partner with Anglo American Platinum and Shell Technology Ventures. The investment will allow us to accelerate the deployment of our technology across the globe. In addition to adding Anglo American Platinum and STV as strategic investors, HyET looks forward to working with Shell, Anglo American Platinum and the other companies in the PGM Investment Programme stable”

For further information, please contact:

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

Notes to editors:

About the Platinum Group Metals (PGM) Investment Programme
Anglo American Platinum’s Platinum Group Metals (PGM) Investment Programme was established in 2013 and sits at the heart of the broader market development undertaken by the Group. The PGM Investment Programme provides early-stage capital and growth capital to companies that can demonstrate the commercial viability of products or technologies that use or enable the use of the company’s metals. The programme also aims to facilitate additional benefits in the form of reliability of PGM supply and long-term pricing benefits as well as exploring the broader Anglo American industrial complex for commercial opportunities.

The investment in HyET has synergies with previous investments, including Hydrogenious Technologies, United Hydrogen Group and Greyrock Energy. Together, these companies are poised to take advantage of the large-scale adoption of zero-emissions fuel cell technology. Anglo American Platinum also has investments in two global fuel cell companies, Ballard Power Systems and Altergy Systems.

About High yield Energy Technologies (HyET) Group
HyET Group develops technologies that enables commercially viable large scale implementation of renewable and decentralised energy generation and distribution. HyET Group currently consists of two companies: HyET Hydrogen and HyET Solar.

HyET Hydrogen develops technology to enable large scale implementation of hydrogen mobility and hydrogen storage. The novel technology HyET has developed enables purification and compression of hydrogen in a single stage up to FCEV standards.

HyET Solar develops thin film solar modules that have the lowest LCOE in the market. Due to its light weight and flexibility the modules can be applied to almost any surface of buildings and structures.

More information about HyET can be found on http://hyet.nl/hydrogen.

About Shell Technology Ventures
Shell Technology Ventures BVI (“STV”) is the corporate venture capital arm of Royal Dutch Shell plc (“Shell”). With major offices in Europe and the USA, STV invests in technology companies to enhance the development of new technologies and business models that have the potential to create substantial deployment value in Shell. Continuing Shell’s tradition in venture capital since 1998, STV’s investment focus includes oil & gas, renewable energy technologies, digital and data. STV co-invests with other corporate investors, venture capital funds and angels and will invest in both early stage and late stage (growth capital) companies. For more information, please visit http://www.shell.com/techventures.

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
Anglo American is a globally diversified mining business. Our portfolio of world-class competitive mining operations and undeveloped resources provides the raw materials to meet the growing consumer-driven demands of the world’s developed and maturing economies. 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 to our customers around the world.

As a responsible miner – of diamonds (through De Beers), copper, platinum and other precious metals, iron ore, coal and nickel – we are the custodians of what are precious natural resources. We work together with our key partners and stakeholders to unlock the long-term value that those resources represent for our shareholders and for the communities and countries in which we operate – creating sustainable value and making a real difference.

www.angloamerican.com

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