Platinum Group Metals (PGM) is making significant strides in the battery technology space, with their new light battery technology showing promising potential for the use of palladium and platinum in electric vehicles. The company, which is becoming a key player in South Africa’s Waterberg region, aims to create prototypes for commercialization consideration this year.
Collaborating with Lion Battery Technologies and Anglo American Platinum, PGM is working on developing batteries with higher specific energies that could revolutionize the EV market. By utilizing platinum and palladium in lithium battery applications, they aim to increase energy density and cycle lives, making them viable for widespread use in BEVs.
Lion Battery is also partnering with Florida International University and the Battery Innovation Center in Indiana to accelerate their commercialization efforts. Dr. Bilal El-Zahab, lead researcher at Lion Battery, expressed confidence in the potential of palladium and platinum to increase the energy density of batteries, providing EVs with more kilowatt hours per kilogram.
In addition to their advancements in battery technology, PGM is also focused on advancing the Waterberg project in South Africa. The project, planned as a mechanized palladium, platinum, gold, and rhodium mine, aims to reach a development and construction decision in the near future. With funding approved for further work programs and a cooperation agreement in place for a PGM smelter in Saudi Arabia, PGM is positioning itself as a leader in the PGM mining industry.
With a narrowed net loss reported in the past six months, PGM is committed to working closely with local communities to ensure the development of their projects benefits all stakeholders. As they continue to innovate in battery technology and mine development, the future looks bright for Platinum Group Metals.
