MOSCOW, July 23, 2024 - (ACN Newswire) - Today the world is on the threshold of the fourth energy transition. The prerequisites for this transition are both technological progress and a conscious policy of states to protect the environment and reduce carbon dioxide emissions into the atmosphere. The foundation for this transition will be digitalisation, distributed energy, cheaper energy storage, renewable energy sources, and hydrogen technologies.
Nornickel, as one of the world's largest MMCs, implements a versatile approach to achieving an energy transition. More than 50% of the company's electricity is generated based on hydroelectric power plants. In additional, Nornickel has set ambitious goals for reducing its environmental impact and improving industrial safety. The company has achieved a remarkable 90% reduction in sulphur dioxide emissions at its Kola Division.
At the same time, Nornickel, as a leading supplier of critical metals for energy transition and industries of future, pays special attention to the development of new technologies. One of Nornickel's key innovation unit is Palladium center aimed at bringing new palladium-based solutions to the market to unlock its high potential. Nornickel experts see potential for palladium application in both new, fast-growing industries and large traditional industries.
"Palladium is widely recognised around the world for its significant role in resolving environmental challenges. This precious metal has a wide potential for new applications in green technologies to improve their performance and, as a result, make them cheaper and faster to deploy. For example, due to its high catalytic activity and hydrogen permeability, palladium-based catalysts show efficiency gains at every stage of the production chain - in the extraction of hydrogen from water by electrolysis, transportation and directly in the fuel cell. Its optical properties acquired when combined with other elements (like palladium chalcogenide) make palladium a good material for high-efficiency photovoltaic cell in solar energy," commented Dmitry Izotov, director of the Palladium Center of Nornikel.
The company is focused on developing and bringing new palladium-based products to the global market to unlock its high potential in such fast-growing green technology sectors as hydrogen, solar energy, biofuels, green chemistry, and food technology. Current results of tests have shown an increase in the effectiveness of palladium-based developments compared to existing commercial analogues.
Nornickel works in close cooperation with leading international universities with extensive experience in the field of hydrogen energy and new chemicals, to test and refine their products. In addition, the Company develops partnerships with international consumers of products and manufacturers of catalysts to further implement development licenses.
Today, the Company's portfolio already includes more than 20 products, and Nornickel plans to develop about 120 new materials over the next 6-7 years, which will create additional market demand for more than 40 tons of palladium by 2030. The Company plans to invest about $100 million in the development of this area by 2030.
ABOUT THE COMPANY
MMC Norilsk Nickel (Nornickel) is a diversified mining and metallurgical company, the world’s largest producer of palladium and Class I nickel and a major producer of platinum, cobalt, copper and rhodium. The company also produces silver, gold, iridium, ruthenium, selenium and other products.
The main production units of Norilsk Nickel Group are located at the Norilsk Industrial District, on the Kola Peninsula and Zabaykalsky Krai in Russia.
MMC Norilsk Nickel shares are listed on the Moscow Exchange (MICEX: GMKN).
Nornickel: pr@nornik.ru, https://nornickel.com
Industry: Metals & Mining , Alternative Energy