Conducted in collaboration with the University of Delaware’s Centre for Clean Hydrogen, Plug claims the test paves the way to “the production of $1/kg green hydrogen.”

VSParticle’s catalyst layers were tested under real-world PEM operating conditions. While less iridium is used, the technology maintained commercial performance, according to Plug, and met durability targets.

Specifically, it showed less than 2.3 µV per hour of performance loss over 8,000 hours of operation, roughly equivalent to a 10-year system lifetime.

The nanoporous catalyst layer was produced using VSParticle’s spark ablation nanomanufacturing process.

“Our dry deposition process isn’t just an alternative to spray coating; it’s a fundamental redesign of how we manufacture electrodes that uses iridium with near-optimal efficiency,” explained VSParticle’s CEO, Aaike van Vugt.

Traditional PEM electrolysers typically rely on 1–2 mg/cm² of iridium, one of the rarest and most expensive platinum group metals, making large-scale deployment costly and resource-constrained.

This work “directly addresses” that challenge, according to Dr. Yushan Yan of the Centre for Clean Hydrogen.

“The combination of ultra-low loading and proven performance and durability de-risks the manufacturing of next-generation electrolysers,” Yan said.

“Widespread adoption of this technology could prevent an iridium supply crisis and fundamentally transform the economics of green hydrogen production.”

They added that the catalyst layer deposition technology could be applied to anion exchange membrane (AEM) electrolysis.

However, the levelised cost of hydrogen is more heavily influenced by electricity cost rather than electrolyser capital costs. Up to 70% of the price of electrolytic hydrogen can derive from power costs.

Other US-based electrolyser OEMs are pursuing similar cost reductions, aiming to match SMR hydrogen production costs of roughly $1.50–$2.50/kg (IEA).

Electric Hydrogen (EH2) told H2 View last year it was confident in reaching $1–2/kg hydrogen through large-scale, standardised PEM systems.