(capital.com) - Platinum prices have risen almost 12% since the about 2-year lows seen at the beginning of September. At the time of writing, the metal was trading at about $934 per troy ounce. This was mainly due to a massive upswing in Chinese fuel cell electric vehicle production (FCEV), as indicated here by the World Platinum Investment Council. FCEVs run on renewable electricity produced by hydrogen fuel cells. Platinum is used in hydrogen electrolysers, which are key in deriving hydrogen’s zero emission applications, through the use of the proton exchange membrane (PEM) process. Recently, Andy Marsh, the CEO of Plug Power, a hydrogen fuel cell system development company, highlighted the potential of the platinum-linked green hydrogen economy potentially becoming worth about $10 trillion a year, accounting for 20% of global energy. This statement was made at the company’s recent green hydrogen symposium. If this scenario materializes, platinum prices could potentially see a huge boost in the long term as well.
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