Technical Fibre Products Ltd (TFP) is a leading advanced nonwovens manufacturer, supplying materials into a wide range of markets, including aerospace, defense, composites, wind energy, and fuel cells. TFP has recently entered into a definitive agreement to acquire PV3 Technologies Limited (PV3). PV3 specializes in the development and manufacture of electrochemical materials used in the creation of green hydrogen.
The acquisition is the latest step in TFP’s growth, building on recent capacity expansion. It will increase TFP’s portfolio of hydrogen technologies products to provide new opportunities for growth and market penetration. PV3, established in 2011, is based in Launceston, Cornwall, and is a specialist in materials for electrochemical technologies. The company manufactures a range of products that include coated electrodes, high performance catalyst powders for use in fuel cells and electrolysis, and water electrolyzer materials that improve system efficiency and durability. Thus, it is reducing the cost of green hydrogen.
Martin Thompson, managing director of TFP Group, says: “The acquisition of PV3 Technologies is the latest step in TFP’s growth plans, providing the opportunity further to enhance TFP’s market position in the hydrogen economy. Fuel cells are already a key growth market for TFP, our nonwovens are used extensively as GDL substrates for fuel cells, and in the last financial year, TFP saw a 40% growth in the sales sector. The incorporation of PV3 will enable us to expand our product portfolio to offer catalyst powders for fuel cells and electrolyzer components used to generate green hydrogen as a fuel source. I am confident that this acquisition strengthens our position within the hydrogen economy, expanding our product offering and knowledge base, and creating opportunities for further growth and value creation.”
The acquisition of PV3, which specializes in coatings and catalysts for water electrolyzer technologies, provides access to another hydrogen economy aspect. This electrolyzer market is set to grow at a CAGR of over 10% between 2020 and 2030. This will ultimately enable TFP to offer innovative material solutions into multiple supply chain points for the green hydrogen economy.
