FTSE 100 engineer Johnson Matthey is closing in on a deal to build a £80m hydrogen fuel cell gigafactory in the UK to help drive a boom in the gas being used to power cars, buses and trucks. The 204-year-old company, best known for making catalytic converters for cars, is expected to announce a deal in the coming days.
The hydrogen gigafactory is expected to create hundreds of jobs and will be built at its existing site in Royston, Hertfordshire.It will make components for fuel cells which burn hydrogen to generate electricity which will in turn power a motor. The gas burns to produce water.The factory is being built with customer deals already in place after the company’s expensive, speculative push into battery technology backfired.Johnson Matthey pulled out of battery development last year in order to focus on hydrogen, making use of its experience as a developer of…
FTSE 100 engineer to build £60m hydrogen factory in the UK to supply carmakers
