Johnson Matthey (JM) of England has decided to exit the battery materials market. Following a detailed review, the company has decided that the potential returns from its Battery Materials business would not be adequate to justify further investment.
The company’s board of directors has decided to pursue the sale of all or parts of the business with the ultimate intention of exiting.
Robert MacLeod, JM’s CEO, said, “Whilst the testing of our eLNO (nickel-rich advanced cathode materials) battery materials with customers is going well, the marketplace is rapidly evolving with increasing commoditisation and lower returns. We have concluded that we will not achieve the returns necessary to justify further investment.
“This decision will allow us to accelerate our investment and focus on more attractive growth areas, especially where we have leadership positions such as in hydrogen technologies, circularity and the decarbonization of the chemicals value chain.”
Volume 35, Issue 21