Johnson Matthey will acquire Cormetech for $360 million, strengthening global stationary emissions control capabilities and expanding clean air technologies.
Johnson Matthey has announced an agreement to acquire US-based Cormetech, a prominent manufacturer of selective catalytic reduction (SCR) catalysts used in stationary emissions control systems for power generation and industrial facilities. The acquisition marks a strategic move for Johnson Matthey as the company continues to strengthen its position in clean air and emissions reduction technologies across global markets.
Cormetech is widely recognized for its advanced SCR catalyst technologies, which help reduce harmful nitrogen oxide (NOx) emissions from stationary sources such as gas-fired power plants, industrial boilers, and other large-scale industrial operations. The company has established a strong presence in the United States and is experiencing rapid growth, particularly due to increasing demand from the expanding AI and data centre sector, which requires significant power generation infrastructure.
The transaction is expected to significantly enhance Johnson Matthey’s Clean Air Solutions business by combining Cormetech’s expertise in stationary emissions control with Johnson Matthey’s longstanding leadership in catalyst technologies. Johnson Matthey has historically been a major global supplier of vehicle emissions control systems and has increasingly expanded into stationary applications as environmental regulations tighten worldwide.
Cormetech’s capabilities are considered highly complementary to Johnson Matthey’s existing portfolio. The acquisition will allow the combined business to deliver broader and more advanced emissions control solutions for industrial customers and energy producers. With stricter environmental compliance requirements and growing investments in cleaner energy infrastructure, the demand for efficient catalyst technologies is projected to continue rising in the coming years.
Cormetech is expected to deliver strong financial growth during the 2026/27 period and currently holds a medium-term project pipeline valued at approximately $1 billion. The company’s strong order visibility and exposure to high-growth sectors make it an attractive addition to Johnson Matthey’s portfolio. In particular, the rapid expansion of AI-driven technologies and large-scale data centres across the United States is creating substantial opportunities for emissions control systems associated with backup and continuous power generation.
Under the terms of the agreement, Johnson Matthey will acquire Cormetech for an enterprise value of $360 million. The payment will be made entirely in cash upon completion of the transaction. The acquisition is expected to close either by the end of June or during July 2026, subject to the receipt of customary regulatory approvals and completion conditions.
Liam Condon, Chief Executive of Johnson Matthey, stated that the acquisition represents another important step in executing the company’s long-term strategic transformation. He noted that Johnson Matthey has admired Cormetech for many years because of its strong market position, technological expertise, and long-established customer relationships in the fast-growing US power generation market.
Condon added that integrating Cormetech into Johnson Matthey’s operations would significantly strengthen the capabilities of the Clean Air Solutions division while also delivering attractive financial returns and supporting long-term shareholder value creation. He further emphasized that the acquisition, alongside the anticipated sale of Johnson Matthey’s Catalyst Technologies business, reflects the company’s broader strategy to sharpen its focus on core strengths, improve cash generation, and build a more resilient and value-driven business for the future.
The acquisition is expected to position Johnson Matthey as a leading global player in stationary emissions control technologies, reinforcing its commitment to sustainability and cleaner industrial operations worldwide.
