Toshiba Energy Systems & Solutions Corporation (Toshiba ESS) has revealed its intention to form an alliance with Furuya Metal Co., Ltd. (Furuya) to establish a stable supply network for iridium, one of the world's scarcest and most precious metals. Iridium plays a crucial role in the production of proton exchange membranes (PEM) used in water electrolyzers that generate hydrogen.
This memorandum of understanding (MOU) outlines their shared goal of reinforcing the supply chain for iridium, which will, in turn, bolster the production of membrane electrode assemblies (MEA) employing Toshiba Group's iridium-based technology.
Proton exchange membrane (PEM) water electrolysis is a process that produces green hydrogen, a clean energy source, by utilizing electricity generated from renewable sources for electrolysis. It offers significant adaptability to fluctuations in renewable energy supply and boasts exceptional durability. However, the key component of PEM, the MEA, relies on a catalyst made from iridium. To increase the adoption of PEM water electrolyzers, the quantity of iridium required for each unit must be substantially reduced.
Toshiba ESS is actively developing an MEA that meets high-performance, durability, and large-capacity hydrogen production requirements while reducing iridium usage to just one-tenth of the traditional manufacturing method.
Furuya, recognized as one of the world's premier precious metal companies, possesses extensive expertise in the application of platinum group metals for industrial purposes. The company handles substantial volumes of iridium, covering everything from processing to recovering and refining used products. Furuya operates a highly efficient iridium recycling-oriented business model characterized by short lead times.
Shigehiro Kawahara, Director and Vice President at Toshiba ESS, expressed their enthusiasm for exploring a business alliance with Furuya to ensure a stable supply of iridium. He also emphasized Toshiba ESS's commitment to expanding their water electrolysis business and developing large-scale solutions for clean hydrogen in support of decarbonization efforts.
Through this prospective alliance, Toshiba ESS and Furuya aim to reduce the cost of MEAs and leverage their respective strengths in iridium-saving technology, recycling expertise, and reliable supply capabilities to mitigate the risks associated with price fluctuations. This collaboration represents a significant step toward sustainable and cost-effective hydrogen production, crucial for the global transition to cleaner energy sources.
