Johnson Matthey and Envision Virgin Racing announce multi year strategic partnership

Rhea-AI Summary

Johnson Matthey (JM) has entered a strategic partnership with Envision Virgin Racing to co-develop the first two-seater electric race car powered by JM's eLNO battery cathode materials. This collaboration marks a significant step in the commercialization of eLNO, showcasing JM's technology in the ABB FIA Formula E World Championship, which features exclusively electric vehicles. The multi-year sponsorship aligns with the team's 'Race Against Climate Change' initiative, emphasizing a shared vision for a sustainable future.

Positive

• Partnership with Envision Virgin Racing enhances the visibility and application of eLNO technology.
• Development of the first electric two-seater race car powered by eLNO will serve as a test bed for further innovations.
• Multi-year sponsorship in the high-profile Formula E series increases brand recognition.

Negative

• None.

• JM, a global leader in sustainable technologies to form technology collaboration with carbon neutral Formula E team
• Co-development of the first ever two-seater electric race car powered using JM's eLNO^® battery cathode materials
• Multi year sponsorship of the Envision Virgin Racing team in Formula E - the world's first fully electric race series
• Major step in the commercialisation of eLNO, showcasing JM's cathode material technology in action.
• Partnership to share vision for cleaner, healthier world through the team's 'Race Against Climate Change' initiative

LONDON, Feb. 1, 2021 /PRNewswire/ -- Johnson Matthey (JM), a global leader in sustainable technologies, has taken another major step in its plans to commercialise eLNO, its family of nickel rich advanced cathode materials, by entering into a strategic partnership with Formula E team Envision Virgin Racing. The collaboration will see JM and Envision Virgin Racing combine next generation cathode materials with leading battery technology to create the first ever electric two-seater Formula E style race car, powered by eLNO.

The concept vehicle will showcase eLNO in action and will act as a test bed, providing valuable experience of a challenging automotive application that will inform the continuous development of eLNO as a high performance, customisable material for passenger cars. The multi year partnership will also see JM sponsor the racing team's participation in the ABB FIA Formula E World Championship. 

Formula E is the ultimate showcase for e-mobility, using only high performance battery electric vehicles in its races. Envision Virgin Racing's mission is to energise the 'Race Against Climate Change', focusing on accelerating the transition to renewable energy and mass adoption of e-mobility. A founding team of the ABB FIA World Championship, Envision Virgin Racing is the only current Formula E racing team to be certified carbon neutral (PAS 2060).  They have also partnered with the UK Government's 'Together for Our Planet' campaign to encourage global action against climate change ahead of the COP26 Climate Change Conference. Envision Virgin Racing is owned by Envision Group, who has pioneered innovation work in areas such as smart wind technology, battery development and AIoT infrastructure.

Commenting on the partnership, CEO of Envision Group and Executive Chairman of Envision AESC, Lei Zhang said: "Envision Group, Envision Virgin Racing and Johnson Matthey are all at the forefront of the EV revolution, so I am delighted to be collaborating with them. As a global leader in sustainable technologies, JM's vision aligns perfectly with the net zero values of Envision, and I look forward to working together to tackle climate change before it is too late."

Commenting, Chief Executive of Johnson Matthey, Robert MacLeod said: "Our vision is for a world that's cleaner and healthier, so we are delighted to be working together with Envision Virgin Racing and its owners Envision Group as we both share an ambition to create a sustainable future. We're really excited to create the first electric race car using eLNO technology – which is a major milestone in its commercialisation – and also to join the team's 'Race Against Climate Change' initiative and its goals of inspiring generations to take action to protect the planet." 

About Johnson Matthey:

Johnson Matthey is a global leader in science that enables a cleaner and healthier world. With over 200 years of sustained commitment to innovation and technological breakthroughs, we improve the performance, function and safety of our customers' products and in 2020 we received the London Stock Exchange's Green Economy Mark, given to companies that derive more than 50% of revenues from environmental solutions. Our science has a global impact in areas such as low emission transport, pharmaceuticals, chemical processing and making the most efficient use of the planet's natural resources. Today more than 15,000 Johnson Matthey professionals collaborate with our network of customers and partners to make a real difference to the world around us. Johnson Matthey is a member of the Global Battery Alliance and supports the GBA's ten principles for a sustainable battery value chain.   

For more information, visit www.matthey.com  

Inspiring science, enhancing life

^{eLNO is a trademark of Johnson Matthey Public Limited Company}

About Envision Virgin Racing:

Owned by Envision Group, the Envision Virgin Racing Formula E Team is one of the founding and most successful outfits in the ABB FIA Formula E World Championship – the innovative electric street racing series.

The purpose-driven team has sustainability running throughout its DNA and exists for one simple purpose; to use its platform to inspire generations to tackle climate change and transition to e-mobility and renewable energy. It does this through its long-running 'Race Against Climate Change' programme and prides itself on being the 'greenest team on the greenest grid', being the first and only carbon neutral certified team (PAS 2060), one of a handful to have achieved the FIA's Three Star Sustainability Accreditation, and the first to sign up to the UNFCCC Sports for Climate Action Framework. It is also a partner of the biggest climate event, the UN's COP26 'Together for our Planet' summit taking place in the UK in November.

On-track, the team continues to be one of the most successful ever with 11 wins and 29 podiums to its name and remains the only team to have recorded victories in every season to date. For the 2020/21 Formula E season, Envision Virgin Racing will see Dutchman Robin Frijns complete his third season with the team alongside newcomer New Zealand driver Nick Cassidy. Overseeing operations at the team's commercial headquarters in London is Managing Director Sylvain Filippi, who has been with the team since day one, together with Team & Sporting Director Leon Price and Technical Director Chris Gorne based at the team's operational arm at its state-of-the-art facilities at Silverstone. Meanwhile, Envision Group's Franz Jung continues his role as Chairman of the Board.

For further information visit www.envisionvirginracing.com  

 

View original content:http://www.prnewswire.com/news-releases/johnson-matthey-and-envision-virgin-racing-announce-multi-year-strategic-partnership-301218354.html

SOURCE Johnson Matthey

FAQ

What partnership has Johnson Matthey formed in 2021?

Johnson Matthey has formed a strategic partnership with Envision Virgin Racing to co-develop an electric race car powered by JM's eLNO battery cathode materials.

How does the partnership with Envision Virgin Racing benefit Johnson Matthey?

The partnership enables Johnson Matthey to showcase its eLNO technology in a competitive environment, potentially accelerating its commercialization.

What is the significance of the eLNO technology in the racing industry?

The eLNO technology is essential for developing high-performance electric vehicles, making it a key player in the future of sustainable racing.

What is the focus of the Envision Virgin Racing team in Formula E?

Envision Virgin Racing is focused on sustainability and aims to inspire action against climate change through its 'Race Against Climate Change' initiative.

What is Johnson Matthey's stock symbol and how might this partnership affect it?

Johnson Matthey's stock symbols are JMPLY and JMPLF. The partnership may positively influence investor sentiment by showcasing JM's innovative capabilities in sustainable technologies.