Smoltek Nanotech Holding AB has developed a groundbreaking porous transport electrode (PTE) that drastically reduces the amount of iridium catalysts needed in PEM electrolyzers to a mere 0.1 mg/cm2, making large-scale production more economically viable. This 95% reduction in iridium usage compared to traditional methods addresses a critical challenge faced by the hydrogen industry. Smoltek Hydrogen's successful durability tests over 250 hours demonstrate the PTE's efficiency, durability, and ability to maintain performance while significantly cutting iridium usage. The company's technology has garnered interest from potential customers looking to test the innovative solution. The PTE's development has progressed rapidly, with early prototypes showing promising results with 0.5 mg iridium/cm2. The company's nanostructures have the potential to reach the crucial 0.1 mg iridium/cm2 limit, offering a sustainable solution for green hydrogen production. By significantly reducing production costs for PEM cells, Smoltek's technology paves the way for increased investments in PEM electrolyzers globally. The positive reception of the technology in the hydrogen industry indicates a shift towards more sustainable and cost-effective hydrogen production methods.