Shares in James Cropper plc (AIM:CRPR) rose 7% after it formed a partnership to apply its electrochemistry and chemical coating expertise to help develop a new component to lower the cost of hydrogen production.
The AIM-listed company, which has its origins as a paper manufacturer, is teaming up with Swiss industrial components group Hoerbiger to design and make a new integrated bipolar plate, which are crucial components in proton exchange membrane (PEM) electrolysers.
James Cropper said the strategic collaboration "addresses key barriers" to companies scaling up hydrogen production, which the pair aim to do by creating a single point of supply with their Ready2Stack bipolar plate.
The product is designed to reduce production downtime and increase long-term reliability, the pair said, which could make green hydrogen more accessible and commercially viable.
Cropper CEO David Stirling said it "could be pivotal in the race to net zero, addressing key challenges in the hydrogen industry and the broader energy transition".
"By combining advanced metallurgy, electrochemistry, and precision engineering, we are driving efficiency, reducing costs, and enabling the rapid scaling of PEM electrolyser production accelerating the shift to a cleaner, more sustainable energy landscape."