Technical Fibre Products Ltd (TFP) plans to acquire PV3 Technologies (PV3), which specialises in making electrochemical materials used in the creation of green hydrogen.
‘The acquisition of PV3 Technologies is the latest step in TFP’s growth plans, providing the opportunity to further enhance TFP’s market position in the hydrogen economy,’ said Martin Thompson, MD of TFP Group. ‘Fuel cells are already a key growth market for TFP, our nonwovens are used extensively as GDL substrates for fuel cells, and in the last financial year, TFP saw a 40% growth in sales into this sector. The incorporation of PV3 will enable us to expand our product portfolio to offer catalyst powders for fuel cells as well as electrolyser components used to generate green hydrogen as a fuel source.’
PV3, based in Launceston, Cornwall, makes coated electrodes, catalyst powders for use in fuel cells and electrolysis, and water electrolyser materials which can help improve system efficiency and durability, reducing the cost of green hydrogen, TFP said. Following the acquisition PV3 will be called TFP Hydrogen Products Ltd.
According to TRP, hydrogen use could increase eight-fold by 2050, from the 10EJ used currently to 78EJ in 2050, at which point it will fulfil 18% of the world’s total final energy demand. This growth is strengthened by the need for an increasingly low carbon economy, legislative changes, energy security and the decreasing costs of hydrogen.
This story uses material from TFP, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.
