TFP Acquires PV3 Technologies

January 25 (2021

Technical Fibre Products Ltd (TFP) has entered into a definitive agreement to acquire PV3 Technologies Limited (PV3), a company which 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, and it will increase TFP’s portfolio of products for hydrogen technologies to provide new opportunities for growth and market penetration.

Martin Thompson, Managing Director of TFP Group, said “The acquisition of PV3 Technologies is the latest step in TFP’s growth plans, providing the opportunity to further 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 sales into this sector. The incorporation of PV3 will enable us to expand our product portfolio to offer catalyst powders for fuel cells as well as electrolyser 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.” Following the acquisition PV3 will be called TFP Hydrogen Products Ltd.

The acquisition of PV3, which specializes in coatings and catalysts for water electrolyser technologies, provides access to another aspect of the hydrogen economy - the electrolyser market, which 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 points of the supply chain for the green hydrogen economy.