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Platinum’s importance in our high-tech world is steadily gaining recognition, particularly in the evolving hydrogen economy. This surge is primarily attributable to the unique properties of platinum that make it essential in various hydrogen-related processes such as hydrogen production, storage, and fuel cell technologies.
Platinum’s Role in Hydrogen Economy
An integral component of the burgeoning hydrogen economy is platinum. This precious metal serves as a catalyst in fuel cell technologies, which are the heart of both stationary power sources and electric vehicles. Fuel cells, the most advanced of which are Proton-Exchange Membrane Fuel Cells (PEMFCs), generate electricity and heat by facilitating a chemical reaction between hydrogen and oxygen. Critical to this process is platinum, helping the reaction to occur at room temperatures and providing corrosion resistance to the fuel cell.
Hydrogen Production and Platinum
Hydrogen production is another area where platinum plays a crucial role. Through a process called electrolysis, water is split into its primary constituents, oxygen and hydrogen. This requires a catalyst to reduce the necessary energy and improve the efficiency of the reaction, and platinum, with its exceptional conductive properties, effectively serves this role. Platinum-based electrodes are used in majority of the commercial electrolyzers due to their high efficiency and long lifespan.
Platinum and Hydrogen Storage
The storage of hydrogen also integrates platinum into its systems. Metal hydrides are an example of a promising hydrogen storage technology, where platinum acts as a catalyst to enhance the kinetics of hydrogen absorption and desorption process. It optimizes the process in a way that is both commercially viable and highly efficient.
Increasing Demand for Platinum
Thanks to these uses and the steady progress of the hydrogen economy, demand for platinum is predicted to increase significantly in the coming years. Currently, around 13% of platinum’s global demand comes from hydrogen-related applications, which is expected to rise to around 25% by 2040 according to reports.
The willingness of countries to switch to cleaner energy alternatives is fueling the growth of platinum demand. More and more countries are turning towards green hydrogen, produced from renewable energy resources, as a solution to mitigate CO2 emissions. Here, platinum’s role as catalyst in PEMFCs and in electrolyzers for environmental-friendly hydrogen production is indispensable.
This growth is not just about environmental initiatives; it has vast economic implications as well. Higher platinum demand will likely spur economic opportunities in the form of jobs and revenues, particularly in regions known for platinum mining, such as South Africa, Russia, and Colombia.
In this sense, the shifting globe towards a hydrogen economy becomes an intersection of environmental sustainability and economic advancement, with platinum being the connective tissue in this evolving narrative.
This trend underlines the increasingly strategic position of platinum in the global economy as the world unceasingly moves towards cleaner and more sustainable energy solutions. It also re-emphasizes the importance of further advancements in platinum extraction, recycling, and capacity planning to meet the rising demand. In conclusion, the continuous growth of the hydrogen economy isn’t just a boost for the much-needed global thrust for sustainability; it’s also a testament to the indispensability of platinum’s role in steering this revolution.