Heraeus Precious Metals and Sibanye-Stillwater announced a partnership on February 15, 2024, to explore the potential of platinum-group metals (PGM), particularly palladium, in new applications within the hydrogen economy. The collaboration aims to develop alternative markets for palladium, leveraging its distinct properties to benefit the burgeoning hydrogen sector with technical innovations. This joint venture will see both companies equally funding the project, underscoring their commitment to advancing palladium-based applications across various industries.
Palladium is recognized for its high selectivity for hydrogen, making it suitable for a wide array of applications, including the purification of hydrogen in blue hydrogen production, cracking of hydrogen carriers, and use in the semiconductor industry where high-purity hydrogen is essential as a process gas. This venture represents a strategic move to diversify palladium applications beyond its traditional use in automotive catalytic converters, where it plays a crucial role in emissions control.
With Heraeus Precious Metals bringing its extensive technical expertise and experience in catalytic processes and PGM recycling, and Sibanye-Stillwater contributing its innovative approach to developing new markets for PGMs, the partnership is set to explore untapped opportunities for palladium. The collaboration has previously yielded promising results, including the development of a stable ruthenium-based catalyst for Proton Exchange Membrane (PEM) Water Electrolysis.
The initiative is also focused on balancing the PGM supply basket, ensuring sustainable demand for palladium and other critical raw materials like iridium, ruthenium, and rhodium. As demand for palladium in the automotive sector is anticipated to decline over the long term, identifying new applications for the metal is essential for maintaining its market relevance and supporting downstream industry users.
Dr. Philipp Walter, Head of Business Line Hydrogen Systems at Heraeus Precious Metals, highlighted the significance of precious metals in the hydrogen economy, emphasizing the importance of reliable process efficiency at scale. Neal Froneman, Chief Executive Officer at Sibanye-Stillwater, acknowledged the potential shift in palladium demand due to the rise of hybrid engines and stressed the need for innovation to stabilize the PGM market in response to evolving demands. 
