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James Cropper's Technical Fibre Products to acquire PV3 Technologies
StockMarketWire.com
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Materials and paper products group James Cropper said its subsidiary Technical Fibre Products had agreed to acquire PV3 Technologies, a company specialising in the development and manufacture of electrochemical materials used in the creation of green hydrogen.
'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,' the company said.
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.
Expanding Technical Fibre Products' hydrogen portfolio strengthened James Cropper's position in a market which was '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,' the company said.
At 8:43am: (LON:CRPR) Cropper James PLC share price was 0p at 950p
Story provided by StockMarketWire.com
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