Johnson Matthey has been working to commercialize its high-nickel cathode materials for the automotive industry, but has now concluded that the potential returns from its battery materials business will not be adequate to justify further investment. Citing competition from alternative technologies and other manufacturers, the company’s board has decided to pursue the sale of all or parts of the business.
Chief Executive Robert MacLeod said, “While the testing of our eLNO battery materials with customers is going well, the marketplace is rapidly evolving, with increasing commoditization and lower returns. This decision will allow us to accelerate our investment and focus on more attractive growth areas, especially where we have leadership positions, such as in hydrogen technologies, circularity and the decarbonization of the chemicals value chain.”
Source: Johnson Matthey