The Institute for Rare Earths and Metals AG supports the Palladium Challenge 2021
Norilsk Nickel, the world's largest producer of palladium and high grade nickel and a major producer of platinum and copper, announces the launch of the Palladium Challenge, a $ 350.000 prize competition organized in partnership with the International Precious Metals Institute (IPMI) .
The Palladium Challenge is an initiative designed to inspire individuals, businesses and academic institutions to invent and design a sustainable use case that will drive demand for palladium. The metal is known for its catalytic abilities and unique physical properties. While it is widely used in the automotive industry as an essential part of catalytic conversion, the Palladium Challenge aims to expand its applications and inspire innovation.
Anton Berlin, Nornickel's Vice President for Sales and Distribution, commented: “As the world's largest palladium producer, Nornickel plays a key role in developing and driving demand for this metal. Additionally, as a company, we believe palladium has tremendous potential beyond auto catalytic converters. We are seeing high demand for palladium in other global industries, including the green economy and decarbonization. There are many other areas in which palladium could play an important role and we are very excited to announce the start of the competition, which aims to bring together scientists from around the world. We encourage scientists, inventors and entrepreneurs worldwide to participate. We hope that this competition will lead to excellent research results ”.
The palladium competition is judged by an independent panel of global experts who review all submitted projects. The three best projects receive worldwide recognition and will receive cash prizes at the IPMI Annual Platinum Dinner in New York City on September 16, 2022.
The prices are graded as follows:
● 1st place: $ 200.000
● 2st place: $ 100.000
● 3rd place: USD 50.000
Registrations are now possible on the IPMI website. Complete proposals must be submitted by May 31, 2022 at the latest. The official rules of the Palladium Challenge apply to all entries.
ABOUT IPMI
IPMI and its education and science foundation are the world's leading association for the precious metals industry and represent all segments of the industry.
ABOUT THE COMPANY
MMC Norilsk Nickel is a diversified mining and metallurgy company, the world's largest producer of palladium and high grade nickel, and a major producer of platinum and copper. The company also produces cobalt, rhodium, silver, gold, iridium, ruthenium, selenium, tellurium, sulfur and other products.
The production facilities of the Norilsk Nickel Group are located in the Norilsk industrial area, on the Kola peninsula and in the Zabaykalskij region in Russia, as well as in Finland and South Africa.
The shares of MMC Norilsk Nickel are listed on the Moscow and Saint Petersburg stock exchanges, ADRs are traded over the counter in the USA and on the stock exchanges in London, Berlin and Frankfurt.
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