FuelCell – TFP Acquires PV3 Applied sciences – Nonwovens Business Journal
TFP is a number one superior nonwovens producer, supplying supplies into a variety of markets together with aerospace, defence, composites, wind power and gasoline cells. The corporate has been dedicated to advancing hydrogen gasoline cell know-how for over three a long time, constructing the capability and experience to determine an already robust place available in the market. Martin Thompson, managing director of TFP Group, says: “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. 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. I am confident that this acquisition strengthens our position within the hydrogen economy, expanding our product offering and knowledge base, and creating opportunities for further growth and value creation.” Following the acquisition PV3 shall be referred to as TFP Hydrogen Merchandise Ltd.
PV3, established in 2011 relies in Launceston, Cornwall, and is a specialist in supplies for electrochemical applied sciences. The corporate develops and manufactures a spread of merchandise which embody coated electrodes, excessive efficiency catalyst powders to be used in gasoline cells and electrolysis, in addition to water electrolyser supplies which enhance system effectivity and sturdiness, decreasing the price of inexperienced hydrogen. Along with having complementary applied sciences to TFP, PV3 additionally shares the identical emphasis on buyer collaboration and product growth. Dr. David Hodgson, CEO of PV3 Applied sciences, feedback: “We are delighted to be joining the TFP group, which shares our passion for sustainability and the development of technologies for the hydrogen economy. PV3 has optimized its know-how in platinum group metal coatings to grow significantly over the last nine years. The combination of TFP and PV3 will leverage technology from both companies, particularly around metal coating. PV3 will make full use of TFP’s global sales and marketing organization and a willingness to add capacity at scale to take advantage of opportunities as they arise.”
The hydrogen economic system has at all times been a robust focus for TFP because it encompasses the gasoline cell market, the place TFP is likely one of the main suppliers of the fuel diffusion layer (GDL) substrate globally. Increasing TFP’s hydrogen portfolio past this strengthens James Cropper’s place in a market which is exhibiting robust progress globally; it’s anticipated that using hydrogen will improve eight fold by 2050, from the 10EJ used at the moment to 78EJ in 2050, at which level it can fulfil 18% of the world’s complete last power demand. This progress is strengthened by the impetus for an more and more low carbon economic system; with legislative adjustments, power safety and the reducing prices of hydrogen bettering its competitiveness. The acquisition of PV3, which focuses on coatings and catalysts for water electrolyser applied sciences, gives entry to a different side of the hydrogen economic system – the electrolyser market, which is ready to develop at a CAGR of over 10% between 2020 and 2030. This may in the end allow TFP to supply modern materials options into a number of points of the provision chain for the inexperienced hydrogen economic system.