The World Platinum Investment Council (WPIC) reports that the adoption of hydrogen fuel cell electric vehicles (FCEVs) is gaining momentum, with several significant milestones reached so far this year.
The developing FCEV market, which uses platinum-based proton exchange membrane (PEM) technology, offers strong upside for platinum demand growth in the near and longer term, the council says.
The WPIC says hydrogen FCEVs are firmly at the centre of sustainable transport solutions, and that PEM fuel cells rely on a platinum catalyst.
The council forecasts 10 000 hydrogen FCEVs will be built by 2030, with as many as 10 000 hydrogen refuelling stations being available worldwide.
In terms of hydrogen vehicle capabilities and achievements, the WPIC highlights that the Hyundai Xcient vehicle fleet in Switzerland has achieved traveling one-million kilometres in 11 months, while Toyota’s Mirai vehicle has set a record for its range of 1 000 km without refuelling.
The council also notes that fast food chain McDonalds has adopted some fuel cell trucks, while the Hyundai Nexo won GQ’s Alternative Energy Car of the Year award this year.
Further, the WPIC points out that the first hydrogen-powered hyper car has been launched, with the Apricale vehicle showcasing hydrogen’s high-performance capabilities.
In China, the council says, a hydrogen-powered bus fleet in the Nanjing region achieved 75 000 km in 45 days.
Going forward, the WPIC says $500-billion is earmarked in the hydrogen investment pipeline, backed up by 359 large-scale projects announced yearly.