Energy transformation is transforming the world's production, storage, and consumption of energy. With nations stepping up the pace at which carbon emissions can be lowered and the adoption of cleaner technologies increases, there is a growing demand for materials that can facilitate the transition. Platinum Group Metals (PGMs), platinum, palladium, rhodium, iridium, ruthenium, and osmium, are some of them and becoming key facilitators of low-carbon and clean-energy systems.
For deeper market perspective, check the platinum market report.
Getting to Know Platinum Group Metals
Platinum Group Metals are a group of rare and high-performance metals, which are characterized by high catalytic activities as well as corrosion resistance and stability at high temperatures. Traditionally, the most common applications of PGM in automotive devices are catalytic converters to minimize harmful emissions. Nevertheless, with the slow replacement of internal combustion engines with cleaner options, PGMs are also gaining some new and additional applications throughout the energy transition portfolio.
Fuel Cells and Hydrogen Economy
The hydrogen economy is one of the most important new applications of PGMs. Platinum and iridium are critical to the production and use of hydrogen. Platinum is an essential catalyst in proton exchange membrane (PEM) fuel cells that produce hydrogen to electricity from hydrogen and use only water as a by-product. Such fuel cells are finding more applications in fuel-cell electric vehicles, backup power systems, and distributed energy generation.
In the meantime, PEM electrolyzers, required to create green hydrogen, use renewable electricity to split water and rely on iridium. Due to the intensive investment of governments and industries in green hydrogen to decarbonize industries such as steelmaking, shipping, and aviation, the demand for PGMs will increase tremendously.
Energy and Power Storage Renewable
Renewable energy infrastructure and energy storage technologies are other ones being supported by PGM. The conductivity and durability of Ruthenium and iridium are under investigation to be used in higher-order batteries, supercapacitors, and electrochemical storage. The applications are used to stabilize power grids, which depend on intermittent renewable sources such as wind and solar.
Moreover, platinum is employed in some of the photovoltaic fabrication procedures as well as catalysts that enhance the efficiency of renewable fuel manufacturing, such as synthetic fuels and biofuels.
Carbonating: The Deindustrialization of Industry
Heavy industries are one of the most challenging industries to decarbonize, and PGMs are contributing here too. Catalysts of platinum allocation are utilized in chemical activities that diminish emissions and enhance energy efficiency. Indicatively, the production of cleaner ammonia engineered by the use of PGM is essential in the production of fertilizers, and it is gradually being considered as a zero-carbon fuel.
PGMs are also used in carbon capture and utilization, which assists in turning the captured carbon dioxide into some useful chemicals or fuels, which reduce the total emissions even more.
Circular Economy Opportunities and Recycling
Not only is the transition of energy fostering new demand for PGM, but it is also emerging as a driver of the recycling and circular economy practices. Due to the high level of value and recycling ability of PGM, recycling of the end-of-life fuel cells, electrolyzers, and industrial catalysts is becoming a significant component of the sustainable supply chains. This is beneficial in eliminating dependence on primary mining and securing a long-term supply.
Looking Ahead
Platinum Group Metals are shifting the conventional emission-controlling functions to a position as the core materials in clean-energy technologies as the world works to meet net -zero goals. They are hard to substitute due to their distinctive features, which puts PGMs as strategic assets in the next few decades. Their potential in the energy transition will need further realization by continued investment in technology, recycling, and supply security.
Frequently Asked Questions
- Why are Platinum Group Metals important to the energy transition?
- The catalytic and electrochemical properties of PGM are unique and therefore make them vital in hydrogen production, fuel cells, renewable energy systems, and decarbonization technologies in industries.
- What are the most common Platinum Group Metals in clean-energy utilization?
- In clean-energy applications, platinum and iridium are now the most expensive, especially in fuel cells and electrolyzers, and ruthenium is also of interest in energy storage and battery technology.
- Are clean-energy technologies recycling PGM?
- Yes. PGM is extremely recyclable, and there is an increasing trend to extract them from the spent fuel cells, industrial equipment, and catalysts to facilitate a circular and sustainable supply chain.
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