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James Cropper Acquires PV3 Technologies and Strengthens Hydrogen Portfolio

James Cropper Acquires PV3 Technologies and Strengthens Hydrogen Portfolio

https://polaris.brighterir.com/public/james_cropper/news/rns_widget/story/xzmn6ow

18th January 2021

 

Technical Fibre Products Ltd (TFP), a subsidiary of James Cropper PLC (LSE:CRPR), announces today that it has entered into a definitive agreement to acquire PV3 Technologies Limited (PV3), a company which specialises in the development and manufacture of electrochemical materials used in the creation of green hydrogen. The acquisition is the latest step in TFP’s growth, building on recent capacity expansion, and it will increase TFP’s portfolio of products for hydrogen technologies to provide new opportunities for growth and market penetration.

TFP is a subsidiary of James Cropper PLC (James Cropper) and a leading advanced nonwovens manufacturer, supplying materials into a wide range of markets including aerospace, defence, composites, wind energy and fuel cells.  James Cropper has been committed to advancing hydrogen fuel cell technology for over three decades, building the capacity and expertise to establish an already strong position in the market.

PV3, established in 2011, is based in Launceston, Cornwall, and is a specialist in materials for electrochemical technologies. The company develops and manufactures a range of products which include coated electrodes, high performance catalyst powders for use in fuel cells and electrolysis, as well as water electrolyser materials which improve system efficiency and durability, reducing the cost of green hydrogen.  PV3 serves a small number of customers, mainly within the hydrogen sector and is well placed to grow within the hydrogen production market and has existing capacity in place to grow substantially. In addition to having complementary technologies to TFP, PV3 also shares the same emphasis on customer collaboration and product development. Following the acquisition, PV3 Technologies will be called TFP Hydrogen Products Ltd.

 

The hydrogen economy has always been a strong focus for TFP, which is one of the leading suppliers globally of gas diffusion layer (GDL) substrates for fuel cells. Expanding TFP’s hydrogen portfolio strengthens James Cropper’s position in a market which is showing strong growth; it is anticipated that the use of hydrogen will increase 8 fold by 2050, from the 10EJ used currently to 78EJ in 2050, at which point it will fulfil 18% of the world’s total final energy demand. These growth prospects reflect the impetus for a low carbon economy, with legislative changes, energy security concerns and the decreasing costs of hydrogen improving its competitiveness as an energy source. The acquisition of PV3 Technologies provides access to another aspect of the hydrogen economy – the electrolyser market, which is set to grow at a CAGR of over 10% between 2020 and 2030. This will ultimately enable TFP to offer innovative material solutions into multiple points of the supply chain for the green hydrogen economy.

Commenting on the acquisition, Phil Wild, CEO of James Cropper, said:

“The acquisition of PV3 Technologies is the latest step in TFP’s growth plans, providing the opportunity to further enhance TFP’s market position in the hydrogen economy. Fuel cells are already a key growth market for TFP, our nonwovens are used extensively as GDL substrates for fuel cells and, in the last financial year, TFP saw a 40% growth in sales into this sector. The incorporation of PV3 will enable us to expand our product portfolio to offer catalyst powders for fuel cells as well as electrolyser components used to generate green hydrogen as a fuel source. This acquisition strengthens our position within the hydrogen economy, expands our product offering and knowledge base, and creates opportunities for further growth.”

 

Dr David Hodgson, CEO of PV3 Technologies, commented that:

“We are delighted to be joining the James Cropper group, which shares our passion for sustainability and the development of technologies for the hydrogen economy. PV3 has optimised its know-how in platinum group metal coatings to grow significantly over the last nine years. The combination of TFP and PV3 will leverage technology from both companies, particularly around metal coating. PV3 Technologies will make full use of TFP’s global sales and marketing organisation and a willingness to add capacity at scale to take advantage of opportunities as they arise.”

 

More information

 

Shore Capital:  Robert Finlay/John More/Henry Willcocks               020 7408 4050

James Cropper: Phil Wild/Isabelle Maddock                                     01539 818210

 

Notes to editors:

Technical Fibre Products (TFP) is a leading nonwoven manufacturer, offering a broad choice of high quality, technically advanced nonwovens for an array of challenging applications across industries ranging from aerospace and defence to fuel cells, automotive, energy, construction and healthcare. TFP is part of James Cropper plc and continues the group’s 175 year tradition of building highly effective collaborative relationships with customers, enabling the development of custom material solutions to meet unique performance, process and aesthetic requirements.

 

www.tfpglobal.com

 

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New Role and Appointment

PV3 Technologies is delighted to welcome Paul Gilbert as our Manufacturing Operations Manager, and we look forward to growing our manufacturing practices with his expertise.

Paul said “I am extremely pleased to join PV3 and be involved in such innovative technologies that are contributing towards green energy solutions both now and in the future. I’m particularly excited to lead the manufacturing side of the business and have the opportunity to scale our manufacturing capacity as demand for our customers increases.”

PV3’s CEO, Dr David Hodgson said “Paul brings significant experience in manufacturing excellence from a wide range of industries.  As we continue to build our business and support our customers,  it was vital we injected additional experience into our manufacturing operations.  I’m excited to bring Paul into the team as we launch our next phase of growth”.

 

Find out about our products and applications here: https://pv3technologies.com/our-products/

 

Or contact us directly at info@pv3technologies.com

New Innovation Project to Increase the Sustainability of Green Hydrogen Technology

PV3 Technologies has been awarded funding for our innovation project ‘Recycling and Reuse of Components for Water Electrolysers (R2WE)’ as part of Innovate UK’s Sustainable Innovation Fund.

R2WE will investigate scalable methodologies to allow materials to be reused in the supply chain for hydrogen-generating water electrolyser technologies.  The increased uptake of water electrolysers to produce green hydrogen will increase the demand on materials supply and a combination of remanufacturing and recycling will support the development of closed-loop approaches for a critical new industry.

PV3 Technologies’ CEO, Dr David Hodgson said ‘We’re delighted this project was funded by Innovate UK.  As a major supplier of new materials in green hydrogen technologies, we recognise the role we need to play in making the supply chain as sustainable as possible.  This project will develop new approaches to identify which components can be reused and which require remanufacturing or value recovery, thus maximising the reuse of key components in PEM water electrolyser technology.  We’re working with partners to develop the appropriate business model to make this innovation project a success.’

Dr Ian Campbell, the Executive Chair at Innovate UK said, “In these difficult times we have seen the best of British business innovation. The pandemic is not just a health emergency but one that impacts society and the economy.

PV3 Technologies, along with every initiative Innovate UK has supported through this fund, is an important step forward in driving sustainable economic development. Each one is also helping to realise the ambitions of hard-working people.”

This new funding continues PV3 Technologies successful track record of securing innovation funding for hydrogen, manufacturing and battery projects.

Get in touch to find out more about our projects,

e: info@pv3technologies.com

New Member Joins the PV3 Technologies Team

Dr Claire Mitchell joins PV3 Technologies to continue the Company’s drive in new product development across coatings, catalysts and electrodes for electrochemical technologies.   Claire joins PV3 after completing her PhD in the catalysis of carbon dioxide reduction at Cardiff Univeristy.
Claire said, “It was obvious during the interviews that PV3 has the ambition to build on its impressive track record.  Being able to play a role in supporting clean-tech across a range of sectors, in Cornwall, is almost too good to believe”
PV3’s COO, Dr Nick van Dijk said, “Claire was the stand-out candidate from a short-list of extremely capable people.   As we build the team, we’re looking to bring in a wider range of skills and Claire’s background in catalyst synthesis adds to the team’s skills in engineering, electrochemistry, coating technology and battery materials.“

Faraday Institution Awards Industry Fellowship to PV3 Technologies and University of Sheffield

The Faraday Institution today announced the award of the first 6 Industry Fellowships, with the collaboration between PV3 Technologies and the University of Sheffield being one of the chosen projects.  The project will progress PV3’s development of advanced Li-ion battery materials

PV3 Technologies’ CEO, Dr David Hodgson said “We’re eager to cement the relationships we’ve been developing in the Li-ion sphere, and working Prof Corr and the Industry Fellow will bring significant value to us”

For more information see:

Faraday Institution announces six Industry Fellowships to foster relationships between industry and academic researchers

 

New Lead Engineer on site

PV3 Technologies’ new Lead Engineer, Dr David Hall, joined us today.  The role was created to support plans to increase the scale of production of existing products and David will also play an instrumental role in ensuring we get our new innovations to market even faster.

David brings expertise in process and electrochemical engineering and experience of managing large multi-partner projects. David said “I’m excited by the prospect of implementing new engineering into such a highly successful company.”

PV3 Technologies’ COO, Dr Nick van Dijk, commented, “We’re delighted to secure David in this new role, a pivotal one for our future”.

PV3 Technologies manufactures and develops electrochemical materials for technologies such as hydrogen generators, fuel cells, batteries, water treatment and medical devices.  The award-winning team, based in Cornwall, works with leading academic groups across Europe and supplies customers across the world.

We’re hiring – again!

Scientist(s)
Based in Cornwall, UK

Who are we looking for?

We’re looking for an exceptional individual, or two, to join one of the most exciting materials companies in the UK. We are looking for a person that can utilise their specific scientific discipline & expertise and leverage their broad understanding of other areas to lead and deliver true innovation within our business.

We’re looking for excellence and we can mould the role around you.

Our innovation projects span materials, and their production, for hydrogen generation, fuel cells, advanced batteries, medical devices and water treatment. You will be focused on making a difference, getting products to market is what we do.

We’re a pretty special company and this is a special opportunity for a special person. We can’t wait to meet you.

Who are we?

We’re an award winning, privately-owned, make-to-order business that manufactures and develops electrochemical materials. Using our key capabilities, we support a diverse range of customers in technologies that include hydrogen generators, fuel cells, batteries, corrosion prevention, water treatment and medical devices. We are proud of our ISO 9001 (2015) certification. Our current team is made up of exceptional people with a range of backgrounds, who use their core knowledge to deliver for our business. We work across multiple sectors and have partners in major UK and EU universities.

What will you do?

We can modify the job to the person we find – we’re looking for great people – but key elements of the job are:
• Operating in a safe and professional manner
• Developing an in-depth appreciation of the manufacturing methods and properties of current PV3 Technologies and competitive materials.
• Experimentation over short and long-term timescales, materials characterisation and testing and leading critical interpretation / assessment of results.
• Formulating or synthesising ideas and concepts through constructive, challenging engagement with colleagues in response to market needs or opportunities.
• Leading the migration of products from the bench into production.
• Setting standards for technical and operational excellence.
• For those with experience of management, we can offer a team leadership role

Education / Experience required for the job:
• Postgraduate research degree or equivalent experience in Electrochemistry, Inorganic Chemistry, Surface Chemistry or Materials Science.
• Candidates should have a proven track record of hands-on experience in materials development, synthesis, production, characterisation, and analysis.
• A sound understanding of the research process is critical as would be a familiarity with processes or methodologies relating to innovation and new product development.
• Experience of migrating products from a research environment into production would be desirable.
• Experience of leveraging value from external partnerships
• Prior experience in leading and managing research projects and people is highly desirable
• Scheduling and allocating resources required to complete allocated projects on time and within budget.
• Non-smokers only.

Due to the nature of the chemicals we use we are only able to employ non-smokers.

Send your CV and covering letter to info@pv3technologies.com

Business Leader of the Year! Our very own CEO, Dr David Hodgson

Our CEO was recognised as ‘Business Leader of the Year’ at the Cornwall Manufacturers Group awards dinner on Halloween. David is not only the CEO but also a founder and has driven the business to where we are now.

“The competition for this award was really strong, which makes winning it a real milestone’, said David. “Being able to have all the team around the table as the award was announced was special. We’re a small, young company doing some ground-breaking things in materials for hydrogen, batteries and water treatment technologies. Awards like this help to tell our story”

The award follows on from winning the SW Micro Business of the Year award in 2018.

End of an internship – start of a career

Aisling Elmer joined PV3 Technologies earlier this year working on advanced battery materials – here are her thoughts as the Royal Society of Chemistry funded internship comes to a close.

“As a recent graduate from University of Bath with a Master’s degree in Natural Sciences and having just completed my final year project in electrochemistry, I was eager to remain in the field and make the most of the skills I had learned.

During the three months of my internship I have developed a range of skills in the synthesis of battery cathode materials, as well as having the opportunity to present my results to industrial and academic experts in the field, through one of our Innovate UK funded programmes. Exposure such as this is a huge benefit of working in a small company, and I am grateful for the responsibility I have been entrusted with in my short time here.

Joining the Innovation Team here at PV3 Technologies has challenged me to think outside the box in my approach to research, a skill which I am sure will prove invaluable throughout my career.

I look forward to future challenges and opportunities here at PV3 as I accept my new permanent role.”

PV3 Technologies’ CEO, Dr David Hodgson said “Aisling fitted in right from the start and we’re delighted she has agreed to join us permanently to work on battery materials and other projects to support our growing array of customers”