As the demand for 'green' hydrogen continues to rise, reducing the reliance on costly platinum-group metals like iridium is crucial for expanding hydrogen production through proton-exchange membrane (PEM) water electrolysis. Traditional methods of developing lower-iridium catalytic components have faced challenges in maintaining high catalytic efficiency and current density. In response to these limitations, Smoltek Hydrogen from Göteborg, Sweden, has introduced an innovative solution with their Porous Transport Electrode (PTE) technology. By growing carbon nanofibers directly onto a porous titanium substrate, Smoltek's PTE design maximizes the catalytic surface area while drastically reducing iridium usage by up to 95%. This approach overcomes issues seen in conventional catalyst-coated membranes (CCMs) by ensuring that all iridium atoms are active and accessible, leading to enhanced electrochemical efficiency. Smoltek's technology aims to replace the existing porous transport layer (PTL) and anode catalyst layer in PEM electrolyzers. The company's successful laboratory tests and partnership with Heraeus Precious Metals signify significant progress towards commercializing the PTE technology. With plans for small-scale production in 2026 and subsequent scaling to higher volumes in 2027, Smoltek is poised to contribute to the advancement of sustainable hydrogen production.