Breakthrough brings $1/kg cost green hydrogen closer

Dutch firm VSPARTICLE achieved a breakthrough in iridium barrier technology for proton exchange membrane (PEM) electrolyzers. Their layer technology has demonstrated a tenfold improvement in iridium utilization, paving the way for cost-competitive green hydrogen production. Iridium is a key yet scarce material used for hydrogen production.

This breakthrough, achieved with hydrogen fuel cell maker Plug Power Inc. and the Center for Clean Hydrogen at the University of Delaware, surpasses the US Department of Energy's 2026 targets for iridium utilization and performance. It paves the way for green hydrogen (generated from renewable electricity) to reach cost parity with standard hydrogen at $1/kg.

Headquartered in Delft, VSPARTICLE developed a cutting-edge nanoprinting technology. The company’s flagship product, the VSP-P1, can break down materials into nanoparticles and produce new ones with the push of a button. Like an inkjet printer, the machine can feed in materials such as zinc, aluminum, or titanium, which it mixes in the desired proportions to create new materials. This technology is valuable for developing crucial materials for the energy transition, such as electrolyzer layers. An electrolyzer is a device used to produce hydrogen.

The breakthrough behind $1/kg green hydrogen

The core of VSParticle's recent achievement lies in its innovative use of iridium in PEM electrolyzers. PEM electrolyzers, crucial for green hydrogen production, rely on iridium, an extremely rare platinum group metal. The annual global production of iridium is limited to 7-8 tonnes, making it a major bottleneck for scaling up electrolyzer production. Traditional catalyst coating methods require 1 to 2 mg/cm² of iridium, further exacerbating the scarcity issue.

VSPARTICLE's new technology significantly reduces iridium usage by up to 90%, lowering the loading from 1.0 mg/cm² to as little as 0.1 mg/cm² while maintaining high performance. This is achieved through a technology that creates a highly uniform, nanoporous structure, thereby maximizing the electrochemical surface area and simplifying the manufacturing process.

“This data, combined with the scalability of our technology, turns this fundamental constraint into a scalable solution,” said Aaike van Vugt, CEO of VSPARTICLE. “Our dry deposition process isn't just an alternative to spray coating; it's a fundamental redesign of how we manufacture electrode that uses 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.”

Industry impact and future plans

“The performance at 0.4 mg/cm² is exceptional,” stated Dr Thomas Valdez, Senior R&D Manager, 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.”

VSPARTICLE is scaling its in-house coating capacity to support pilot and early commercial projects with multiple top-tier PEM electrolyzer manufacturers. Several 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 and proven performance and durability de-risks the manufacturing of next-generation electrolysers. Widespread adoption of this technology could prevent an iridium supply crisis and fundamentally transform the economics of green hydrogen production.”