Valterra Platinum and Umicore’s Metal Deposition Solutions (MDS) have entered a multi-year R&D and commercialisation partnership focused on developing platinum group metal (PGM) solutions for industrial applications of electroplating.
The companies have commenced a new collaboration to accelerate the development and commercialisation of PGM based electroplating technologies aimed at high value industrial applications. This partnership reflects a shared commitment to creating new, sustainable sources of demand for PGMs, building upon years’ experience of industrial collaboration and expanding engagement with fabricators by Valterra Platinum.
Under the agreement, Valterra Platinum will invest for an initial period of three years and will work alongside Umicore MDS to advance technologies from laboratory research towards commercial readiness. Umicore MDS will contribute equivalent value through R&D services, drawing on its deep expertise in materials chemistry, surface technologies and industrial scale up.
The initial R&D programme will concentrate on high-speed platinum electroplating, particularly in the electronics segment such as connector applications. This application represents a sizeable market in which platinum could provide a competitive, cost effective and durable alternative to gold, which has current industrial demand of more than 9.5 million ounces per year. The collaboration remains open to additional strategic partners and new projects are intended to be introduced over time.
Craig Miller, Chief Executive Officer of Valterra Platinum, said: “As a world leading PGMs producer, we are focused on building sustainable, long-term demand for PGMs by partnering with industry leaders who can turn innovation into meaningful PGM demand. Umicore’s expertise in surface technologies and commercialisation makes them another ideal partner to unlock new PGM applications in electronics and other opportunity areas. This collaboration reflects our disciplined approach to market development and our belief in the power of targeted, high-quality partnerships.”
Michael Herkommer, Vice President of Umicore’s Metal Deposition Solutions, added: “Valterra Platinum has a clear vision to establish platinum as an attractive material for a broader range of industrial sectors beyond its traditional markets. At Umicore MDS, as a global leader in precious metal-based surface finishing solutions, we bring our expertise and market insight required to identify emerging trends and translate them into scalable processes. This partnership allows us to focus on the targeted development of innovative solutions that will result in platinum coatings that match the performance of other precious metal finishes while offering significantly improved economic efficiency.”