Launceston-based electrochemical material manufacturer PV3 Technologies has been acquired by a large multinational.
Technical Fibre Products Ltd (TFP), a subsidiary of James Cropper PLC, is a leading advanced nonwovens manufacturer, supplying materials into a wide range of markets including aerospace, defence, composites, wind energy and fuel cells.
The acquisition of PV3 will enable it to expand its product portfolio to offer catalyst powders for fuel cells as well as electrolyser components used to generate green hydrogen as a fuel source.
PV3 Technologies CEO, Dr David Hodgson, said: “We are delighted to be joining the TFP group, which shares our passion for sustainability and the development of technologies for the hydrogen economy.
“PV3 has optimised its know-how in platinum group metal coatings to grow significantly over the last nine years. The combination of TFP and PV3 will leverage technology from both companies, particularly around metal coating. PV3 will make full use of TFP’s global sales and marketing organisation and a willingness to add capacity at scale to take advantage of opportunities as they arise.”
Following the acquisition PV3 will be called TEP Hydrogen Products.