A team from Baker McKenzie has advised Impala Platinum Holdings Limited (“Implats”) on its investment into the AP Ventures Fund II, which focuses on companies developing sustainable hydrogen energy technologies. Implats has taken a significant Limited Partner stake and Advisory Board seat in the fund. The cross-border team from Baker McKenzie was led by Morne van der Merwe, Implats relationship Partner and Johannesburg Head of Corporate/M&A, with support from James Burdett, Partner, and Naomi Inns, Associate, in Baker McKenzie’s London Investment Funds Group.
Morne van der Merwe, commented, “We were delighted to assist Implats on this significant investment in technologies that are critical to Africa’s sustainable energy future. New solutions are urgently needed to address Africa’s power crisis and boost its post-pandemic recovery. Such solutions must take into account the energy transition and the global drive towards a decentralised, decarbonised and secure energy supply that addresses climate change and stimulates economic growth. This exciting investment will enable the development of hydrogen technologies that can lower energy costs, increase the power system’s flexibility and facilitate the decarbonization of African industries.”
Sifiso Sibiya, Group Executive, Refining and Marketing at Implats said, “Our thanks go to Morne, James and the Baker McKenzie team for helping us close this complex transaction within a very tight deadline. A zero-carbon hydrogen solution is one of the key evolving end uses for platinum group metals and an important part of the successful path to decarbonization. This investment will help to harness the benefits of PGM demand growth and add value to our local communities through hydrogen’s role as a key enabler of the energy transition.”
Last year, Baker McKenzie’s Hydrogen team, comprising a global, multi-practice team of hydrogen industry experts, launched the Hydrogen Hub to share new policy and developments focusing on the important role of hydrogen in global sustainable energy initiatives.