Platinum Fundamentals and Its Role in a Greener Future
Platinum, also known as white gold, has long been considered precious because of its rarity in the earth’s crust and how difficult it is to mine. Platinum jewelry is some of the most expensive in the world. What people may not know about platinum is that it’s being increasingly used in pioneering technologies that can help reduce our dependence on fossil fuels and lead towards a greener future. Read on to learn more about its role in the future of green energy!
Legislation to Curb Pollution
A lot of the greenhouse gas emissions that are responsible for global warming are tied to transportation. This is why countries across the world, under the Paris Climate Agreement, are passing legislation that could help create a more fuel-efficient world for everyone. They are increasingly demanding that vehicles have tougher emission standards.
Rise in Use of Catalytic Converters
The tougher regulations have led to a boom in the use of catalytic converters. A lot of the new cars sold today are hence equipped with an auto catalyst—one that converts toxic exhaust into less harmful substances. Auto catalysts are also used in heavy machinery, industrial vehicles, power plants, heating appliances, boats, railcars, and aircraft. The increasing demand is a boom for platinum investors and miners.
Used to Make Fuel Cells
Platinum is also essential to many other green technologies and products, including fuel cells and electric vehicle batteries. The material is used to make fuel cells that convert hydrogen into power.
With the future of the world increasingly moving towards renewable energy there is always expected to be a good demand for battery metals, which include nickel, copper, cobalt, and lithium—as well as key platinum use-cases like fuel cells.
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