VSPARTICLE and Plug Power break the iridium barrier a major step toward green hydrogen at $1 per kilo
VSPARTICLE’s breakthrough in nanoporous layer technology demonstrates a 10x improvement in iridium utilization - addressing one of the most expensive bottlenecks preventing cost-competitive green hydrogen. This innovation enables scalable and durable PEM electrolysers, putting green hydrogen on track to reach cost parity with conventional hydrogen.
DELFT, The Netherlands – October 14, 2025 – VSPARTICLE, a pioneer in advanced nanomaterial manufacturing, announced on Tuesday the peer-reviewed validation of its nanoporous catalyst layer technology, confirming its potential to overcome the critical iridium bottleneck in proton exchange membrane (PEM) electrolysers.
The collaborative project with Plug Power Inc. (NASDAQ: PLUG) and the Center for Clean Hydrogen, led by Professor Yushan Yan at the University of Delaware, achieved excellent performance while using up to 90% less iridium. The team successfully operated an electrolyser for more than 8,000 hours with comparable output and drastically reduced iridium content. Experts involved in the study describe this as a credible pathway toward ~$1/kg green hydrogen.
“This data, combined with the scalability of our technology, turns a fundamental constraint into a scalable solution,” said Aaike van Vugt, CEO of VSPARTICLE. “Our dry deposition process is not just an alternative to spray coating; it is a fundamental redesign of how we manufacture electrodes, using iridium with near-optimal efficiency. This is the missing link the industry has been searching for to scale PEM electrolysis to the multi-gigawatt level without facing an iridium shortage.”
“The performance at 0.4 mg/cm² is exceptional,” said Dr. Thomas Valdez, Senior R&D Manager at Plug Power. “In our evaluation, VSPARTICLE’s electrodes demonstrate the durability and high current density required for commercial systems. This level of iridium utilization is essential for Plug to achieve our cost-reduction and deployment goals.”
PEM electrolysers are valued for their ability to respond dynamically to intermittent renewable energy. However, their reliance on iridium -one of the rarest platinum group metals (PGMs), with a global annual production of only 7 – 8 tonnes - has been a major barrier to scaling up. Traditional catalyst coatings are inefficient, often requiring 1–2 mg/cm² of iridium.
VSPARTICLE’s technology tackles this challenge by creating a highly uniform, nanoporous structure without the use of PFAS-based ionomers or solvents. This not only maximizes the electrochemical surface area (ECSA) of the precious metal but also simplifies manufacturing and enables more efficient recycling.
Progress Toward Industrial Adoption and Market Impact
VSPARTICLE is currently scaling up its coating capacity to support pilot and early commercial projects with several leading PEM electrolyser manufacturers. Multiple partners have scheduled integration and commercial-scale testing programs to begin in 2026.
“This work directly addresses the most significant materials challenge in PEM electrolysis,” said Dr. Yushan Yan, Founding Director of the Center for Clean Hydrogen. “The combination of ultra-low loading, proven performance, and durability reduces the risks for next-generation electrolyser manufacturing. Broad adoption of this technology could prevent an iridium supply crisis and fundamentally transform the economics of green hydrogen. This catalyst layer deposition technology also shows promise for AEM electrolysis.”
NXTGEN Hightech Growth Fund
As part of NXTGEN Hightech Project 8: Third Generation Electrolysers, VSPARTICLE is developing advanced thin-film technology that drastically reduces the use of scarce and costly iridium. The company focuses on nanoporous catalyst layers that enhance electrode efficiency and lifetime. Together with partners such as VDL, Bosch, SparkNano, and Powall, VSPARTICLE works on scaling up production technology, ensuring these innovations will soon be industrially deployable in the next generation of electrolyser systems.
About VSPARTICLE
VSPARTICLE is a leading innovator in nanoparticle generation and deposition systems, empowering researchers and industries to create the next generation of functional materials. With its modular technology platform, VSPARTICLE has democratized access to high-quality, customizable nanomaterials.
By enabling precise and scalable production of complex nanostructures, the company has become an indispensable partner for leaders in energy storage, sensor technology, and catalysis. This commitment to excellence and innovation has made VSPARTICLE the #1 manufacturer of state-of-the-art nanoporous layers, setting a new industry standard for performance, reproducibility, and design freedom.
VSPARTICLE’s solutions accelerate the transition from lab-scale discovery to industrial-scale production, shaping a more efficient and sustainable technological future.