Sweden-based Smoltek Hydrogen has announced a major breakthrough in hydrogen technology by slashing the use of iridium—a rare and expensive metal by up to 95% in its new proton exchange membrane (PEM) electrolyser design.

The company’s new porous transport electrode (PTE) reduces the amount of iridium needed from 1–2 milligrams per square centimetre to just 0.1 milligrams per square centimetre. This innovation, which has been independently tested over 1,000 hours, could significantly lower costs and help scale up green hydrogen production.

Iridium is one of the key cost and supply bottlenecks in PEM electrolyser technology. With global supply limited to just 7–9 tonnes per year, current usage levels allow only around 4 to 5 gigawatts (GW) of annual electrolyser capacity—far below the levels needed to meet 2030 global targets.

Smoltek’s new approach replaces the traditional plastic membrane with a metallic layer coated in carbon nanofibers, boosting the electrode’s surface area thirtyfold. A thin layer of platinum is added to improve durability and conductivity.

The potential cost savings are significant. At the current iridium usage rate, a 1 GW electrolyser setup could cost about $60 million in iridium alone. Smoltek’s method brings that down to $3 million—a saving of $57 million per GW.

The company is now preparing for commercial-scale production of the new electrode. Smoltek Hydrogen operates a dedicated hydrogen lab at Chalmers University of Technology in Gothenburg, where its team is focused on making green hydrogen more affordable and scalable.

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Smoltek Hydrogen slashes iridium use by 95% in PEM electrodes