Smoltek Nanotech Holding AB's subsidiary, Smoltek Hydrogen, has embarked on a strategic collaboration with Heraeus Precious Metals to enhance the functional efficiency of porous transport electrodes (PTEs) in proton exchange membrane (PEM) electrolyzers. This partnership aims to redefine iridium efficiency in PEM electrolyzers by combining Smoltek's nanostructure technology with Heraeus' expertise in advanced catalyst formulations. The goal is to reduce the iridium dependency, particularly of the scarce iridium, to accelerate green hydrogen production at a lower cost and with reduced resource usage. The collaboration focuses on developing the next generation of PEM electrolyzer technology by advancing the functional of PTEs, where the porous transport layer, serving as both electrode and catalytic carrier, is coated with ultra-thin iridium and platinum containing catalytic layers. Smoltek has already achieved 0.1 mg/cm² iridium loading in PEM electrolyzers and aims to further decrease the iridium content through Heraeus' unique ruthenium-iridium catalyst. Ellinor Ehrnberg, President of Smoltek Hydrogen, expressed excitement about this collaboration to push the limits of iridium efficiency. The partnership reflects the synergy between Heraeus' industrial expertise and Smoltek's innovative solutions, highlighting the significance of reducing iridium dependency in the hydrogen industry. While the agreement is non-binding and does not generate direct revenue, it offers strategic market access for Smoltek Hydrogen. The collaboration aspires to achieve a significant leap in catalyst efficiency to meet the increasing demands of the hydrogen market, aiming to provide sustainable solutions for the global energy transition.