World Gold Council (WGC), the organisation responsible for driving global demand for gold, and Nanostellar Inc, a leading-edge developer of emission control technologies, have agreed to a long-term strategic partnership to enable the introduction of gold into the auto catalyst market. Under the terms of the agreement, WGC has invested in Nanostellar Inc in order to facilitate the commercialisation and marketing of the gold-based technology that could increase industrial demand for gold. Recently proclaimed a 2008 Technology Pioneer by the World Economic Forum, Nanostellar has developed a new product, NS Gold, a catalyst formulation for use in the automotive industry that for the first time includes gold alongside traditional platinum and palladium metals.
James Burton, CEO of the WGC, said, ?The council is delighted to be able to assist Nanostellar in its efforts to bring the first gold-containing auto catalyst products to the market. The auto catalyst market is a large and important one for the platinum group metal producers and we are excited to be entering this new arena. We are also pleased to see gold play a role in an application with undoubted environmental benefits.? According to Johnson Matthey, during 2007, 4.24 million oz (119 tonne) of platinum is expected to be used in automotive catalysts ? an increase of 2.3% from 2006. At current platinum prices of approximately $1,400-$1,450 per oz, the total value of platinum use in auto catalysts during 2007 is expected to exceed $6 billion. Auto catalysts use platinum group metals to control harmful elements in automotive exhaust. The major exhaust pollutants are carbon monoxide (a poisonous gas), hydrocarbons (from partially burned fuel that gives off diesel or petrol odor), particulate matter (or smoke – which contains cancer causing compounds) and NOx (smog forming compounds).
