Hydrogen fuel cell vehicles represent just one segment of an expanding market for hydrogen, which some see as the fuel of the future. That’s according to a recent report from Commerzbank Research, which states that hydrogen is becoming increasingly important as an energy carrier and in achieving climate targets.
The German bank expects that as the hydrogen economy grows, so will the demand for platinum. Quoting data from the World Platinum Investment Council WPIC, Commerzbank said that platinum demand in the production of hydrogen is expected to grow from 48,000 ounces last year to 2.7 million ounces by 2030.
“Hydrogen applications are also expected to account for one-third of total platinum demand by the end of the 2030s,” wrote Carsten Fritsch, commodity analyst at Commerzbank and author of the report.
Jubilee Metals Group plc (LON:JLP) is a diversified metal recovery business with a world-class portfolio of projects in South Africa and Zambia. The Company’s expanding multi-project portfolio across South Africa and Zambia provides exposure to a broad commodity basket including Platinum Group Metals, chrome, lead, zinc, vanadium, copper and cobalt.
