The World Platinum Investment Committee (WPIC) reported that people's interest in the use of hydrogen fuel cells in the heavy transport industry is growing rapidly, and some interesting developments are currently under way. Platinum based proton exchange membrane (PEM) hydrogen fuel cells provide zero emission, electrically driven mobility in fuel cell electric vehicles (FCEVs).
WPIC pointed out that when green hydrogen is used as fuel (produced by using renewable energy in the electrolysis process), it can provide emission free transportation. Its application is likely to help decarbonize many industries, from transportation to construction, mining and other industries. The committee pointed out that Bosch, an engineering and technology company that provides PEM fuel cells, predicted that by 2030, one of every eight newly registered commercial vehicles in the world would be driven by fuel cells, which is estimated to be equivalent to 660000 heavy-duty vehicles.
WPIC explained that Bosch's goal is that by then, the operating cost of FCEV trucks will not be higher than that of diesel trucks. With the production of fuel cell power systems for trucks starting later this year, Bosch will increase the investment in developing fuel cell mobile solutions to nearly 1 billion euros between 2021 and 2024.
WPIC further emphasized that Volvo, the car manufacturer, released its new FCEV truck earlier this month. The truck is equipped with two fuel cell stacks, with a total power generation of 300 kilowatts, a range of 1000 kilometers, and a refueling time of less than 15 minutes.
The test of Volvo FCEV trucks is in progress, and the customer pilot will be carried out subsequently. It is planned to achieve full commercialization in the second half of the decade. Volvo believes that FCEV powered by hydrogen is particularly suitable for tasks with special heavy duty and energy demand in the field of long-distance transportation and heavy vehicles.
The automaker has also started testing the world's first PEM fuel cell articulated dump truck. The six wheeled vehicle weighs 35 tons and can be filled with 12 kilograms of hydrogen in 7.5 minutes. It can last for about 4 hours.
In another first case, diversified miner Anglo American disclosed the world's largest hydrogen powered mine transporter earlier this year, which is designed to operate under the daily mining conditions of its Mogalakwena PGM mine in South Africa.
This FCEV can use multiple fuel cells to generate 2MW of power, more than its diesel predecessors, and can carry 290 tons of payload.
It is part of Anglo American NuGen Zero Emission Transportation Solutions (ZEHS). NuGen provides a fully integrated green hydrogen system, including production, fuel and transportation components. Green hydrogen will be produced in the mining area.
At the same time, WPIC pointed out that balancing the demand for decarbonization with the economic reality, that is, early adoption of new technologies is expensive and takes time, which means a multi pronged approach is required.
Internal combustion engine (ICE) vehicles are expected to play an important role in the global powertrain portfolio in 2030; However, from the perspective of platinum demand, the decline in output due to the reduction of internal combustion engine production will be completely offset by stricter emission standards and higher platinum content in corresponding automotive catalysts. In addition, there is the substitution of platinum for palladium.
In addition, the committee said that the demand for platinum from FCEV using hydrogen as fuel would increase the demand for platinum from internal combustion engine vehicles, which is expected to peak in 2028.
This will exceed the final decline in platinum demand for diesel locomotives, resulting in a sustained and substantial growth in platinum demand for automobiles in the 2030's.
The recent research of WPIC emphasizes that the supportive hydrogen policy can make the platinum demand of FCEV reach the current automobile demand in 2039, and the extensive commercial application of FCEV will advance it to 2033, increasing the annual platinum demand of automobiles by more than 3 million ounces in 11 years.
