The article discusses the importance of reducing the dependence on expensive platinum-group metals like iridium for the expansion of 'green' hydrogen production through proton-exchange membrane (PEM) water electrolysis. Traditional approaches mix iridium into a polymer slurry with a cheaper material, sacrificing efficiency. Smoltek Hydrogen, based in Göteborg, Sweden, has developed the Porous Transport Electrode (PTE) technology, which significantly lowers iridium usage while maximizing catalytic surface area. This technology grows carbon nanofibers directly onto a porous titanium substrate, increasing surface area by 30-fold and utilizing up to 95% less iridium. The PTE technology aims to replace the existing porous transport layer and anode catalyst layer in PEM electrolyzers, offering enhanced efficiency. By depositing iridium directly onto conductive carbon nanofibers, the design ensures all iridium atoms are active and accessible, improving the electrochemical process. Smoltek is currently collaborating with Heraeus Precious Metals to scale up prototypes and prepare for full-scale market introduction. Promising laboratory results include producing hydrogen with only 0.1 mg of iridium per square centimeter during durability tests. The company plans to start small-scale industrial production in 2026 and scale up to higher volumes in 2027, showcasing the technology's potential for commercial application and scalability.