Title page for E-project-011609-111759

Project Type IQP

Submission date 2009-01-16

Authors
Justin Leonard Boudreau, CM
Eugene Choi, ECE
Oljora Rezhdo, CM

URN E-project-011609-111759

Division Energy and Resources

Title Platinum Supply and the Growth of Fuel Cell Vehicles

Advisors
Saeed, Khalid, SS
Datta, Ravindra, CM

Availability unrestricted

Abstract
This report addresses problems associated with possible U.S. fuel cell vehicle production and a limited platinum supply. Polymer Electrolyte Membrane (PEM) fuel cells, which use a platinum catalyst, could place strain on the platinum market if fuel cell vehicles are widely produced. We developed a dynamic hypothesis, identified causal relationships, and created a system dynamics model in iThink. Based on this model, we found platinum prices would likely reach $50,000 per kilogram in 30 years and the cost of platinum for a fuel cell vehicle would be $2,500. At this price, the platinum barrier is surmountable if the cost of other FCV components is drastically reduced. If a world FCV market takes hold, it was concluded that only about 15% global market penetration is feasible.

Files
final_models.zip
platinum_supply_and_fcvs.pdf

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Project Type	IQP
Submission date	2009-01-16
Authors	Justin Leonard Boudreau, CM Eugene Choi, ECE Oljora Rezhdo, CM
URN	E-project-011609-111759
Division	Energy and Resources
Title	Platinum Supply and the Growth of Fuel Cell Vehicles
Advisors	Saeed, Khalid, SS Datta, Ravindra, CM
Availability	unrestricted
Abstract This report addresses problems associated with possible U.S. fuel cell vehicle production and a limited platinum supply. Polymer Electrolyte Membrane (PEM) fuel cells, which use a platinum catalyst, could place strain on the platinum market if fuel cell vehicles are widely produced. We developed a dynamic hypothesis, identified causal relationships, and created a system dynamics model in iThink. Based on this model, we found platinum prices would likely reach $50,000 per kilogram in 30 years and the cost of platinum for a fuel cell vehicle would be $2,500. At this price, the platinum barrier is surmountable if the cost of other FCV components is drastically reduced. If a world FCV market takes hold, it was concluded that only about 15% global market penetration is feasible.
Files	final_models.zip platinum_supply_and_fcvs.pdf