Johnson Matthey shares rise as battery project progresses

FTSE 100 chemical and sustainable technology firm Johnson Matthey (LON:JMAT) has seen its share price climb by 2.83% to 3,200p (as of 15:15 GMT) after it reached two milestones for the commercialisation of its range of cathode battery materials. It has secured a location in Poland for the development of a production site and reached a long term agreement to be supplied lithium-containing raw materials.

Chief executive Robert MacLeod commented: “These two developments that we have announced today demonstrate that we are well on track with the commercialisation of eLNO. Having applied our world class science to create eLNO technology that outperforms the market for customers, we are commercialising our technology for them through flexible, scalable manufacturing capacity in Poland and a secure supply of vital lithium-based raw materials. We are firmly delivering in line with our strategy for break out growth in Battery Materials and JM remains well placed for success as the global market for electric vehicles develops“.