A collaborative effort between research institutions and industry partners has led to a significant breakthrough in hydrogen production technology. A team comprising researchers from TU Berlin, HZB, IMTEK, and Siemens Energy has developed an alkaline membrane electrolyzer that demonstrates performance levels comparable to established PEM electrolyzers. What sets this innovation apart is the use of inexpensive nickel compounds instead of iridium for the anode catalyst. The process involves coating an alkaline ion exchange membrane directly with nickel double hydroxide compounds containing iron, cobalt, or manganese. Through operando measurements conducted at BESSY II, the team was able to unravel the catalytic processes taking place in the electrolyzer in great detail. By utilizing a gamma phase catalyst, the new electrolyzer achieves competitiveness with current state-of-the-art iridium-based catalysts. The research sheds light on crucial catalytic-chemical processes and molecular differences in the new nickel-based electrode materials, enhancing the understanding of their fundamental mechanisms. Moreover, the development of a scalable coating process for the membrane electrode indicates promising industrial applications. The successful testing of a small cell at IMTEK marks a crucial step towards commercial evaluation, demonstrating the high efficiency potential of AEM electrolysers in the emerging green hydrogen sector.