Iridium is a key component in proton exchange membrane (PEM) electrolysers, which use electricity to harvest hydrogen from water. However, the platinum group metal is one of the rarest on Earth, with just 7-8 tonnes mined each year, hampering PEM production and driving up costs.
VSParticle’s nanoporous catalyst layer technology was developed to address this iridium bottleneck, using a fraction of the precious metal compared to existing PEMs. Working with Plug Power and the Centre for Clean Hydrogen on a recent project to validate the deposition technology, VSParticle achieved an iridium coating ratio of 0.4mg/cm², claimed to be a 90 per cent reduction in iridium usage.
“The performance at 0.4mg/cm² is exceptional,” said Dr Thomas Valdez, senior R&D manager at Plug Power, a US manufacturer of fuel cells and electrolysers.
“In our evaluation, VSParticle’s electrodes demonstrate the durability and high current density required for commercial systems. This level of iridium utilisation is essential for Plug to achieve our cost-reduction and deployment goals.”
The results, presented recently at the Electrochemical Society (ECS) Meeting in Chicago, surpass the US Department of Energy’s 2026 targets for iridium utilisation and performance. VSParticle clams the data confirms a viable pathway to green hydrogen production at $1 per kilogram, a cost competitive with grey hydrogen derived from natural gas using steam methane reforming (SMR).
“This data, combined with the scalability of our technology, turns this fundamental constraint into a scalable solution,” said Aaike van Vugt, CEO of VSParticle.
“Our dry deposition process isn’t just an alternative to spray coating; it’s a fundamental redesign of how we manufacture electrode that uses iridium with near-optimal efficiency. This is the missing link the industry has been searching for to scale PEM electrolysis to the multi-gigawatt level without facing an iridium shortage.”
VSParticle said it is now scaling its in-house coating capacity to enable pilot and early commercial projects with multiple PEM electrolyser manufacturers, with several partners targeting testing programs for 2026.
“This work directly addresses the most significant materials challenge in PEM electrolysis,” said Dr Yushan Yan, founding director of the Centre for Clean Hydrogen.
“The combination of ultra-low loading and proven performance and durability de-risks the manufacturing of next-generation electrolysers. Widespread adoption of this technology could prevent an iridium supply crisis and fundamentally transform the economics of green hydrogen production.”
