In metals and mining, how the industry responds to climate change and its impact has been a notable topic of discussion over the past decade. Nornickel has already witnessed high demand for palladium in global industries, including in those that enable the green economy and decarbonisation. Palladium is one of the Platinum Group Metals (PGM), renowned for its catalytic capabilities and valuable characteristics.
As the world embraces a greener future, hydrogen fuel cells and carbon capture will boost demand for palladium. Due to these unique catalytic properties, ensuring effective chemical reactions throughout the entire vehicle life cycle, there are almost no alternatives to palladium in this sector except for platinum, which is used mostly in diesel vehicles, and rhodium.
However, the metal has a much wider range of applications, and while it is most commonly used by the automotive industry to manufacture catalytic converters that reduce harmful emissions, it is also used in a range of other industries, for example, in chemical and petrochemical catalysts, in electronics devices, dental restoration and jewellery.
As the global leader in palladium production, with a share of more than 40% of the primary palladium market, Nornickel is committed to its development and the promotion of palladium鈥檚 use in new areas. In order to drive these transformative innovations, Nornickel is giving universities and laboratories, as well as individual scientists, engineers and entrepreneurs, the opportunity to investigate palladium and its applications in their research areas.
In close collaboration with the International Precious Metals Institute (IPMI), the leading association for the global precious metals industry, Nornickel has launched the . The award for this scientific contest is granted to individuals or institutions who produce the most promising technological solutions that have the potential to generate substantial demand for palladium.
The Palladium Challenge will be judged by a panel of renowned experts in science and technology and the PGM market, and will focus on three main criteria, namely, the scientific novelty of the proposed project; the economic feasibility and sustainability of the project; and the minimum annual palladium demand (in thousands of troy ounces) generated by the proposed application.
The scope for research is unrestricted, however, palladium applications in the hydrogen economy, including hydrogen storage and cleaning films, catalysts for electrolysers and fuel cells, and hydrogen sensors; battery technologies, with palladium as a battery energy density booster; as well as sensors, industrial catalysts, or alloys, are considered the most promising areas of research.
Winners of the Palladium Challenge, which is expected to become an annual contest, will receive global recognition and a cash prize of up to US$200,000. Participants can until May 2022, and following interviews, can expect to attend the awards ceremony at the IPMI Dinner in New York in September 2022. The winning entries will seek to shed light on the many areas where palladium could fulfil a critical function and the Palladium Challenge sets the stage for vital collaboration within the scientific community.
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