Iridica

Green hydrogen is key to cutting emissions from heavy industry and transport. PEM electrolysis is the technology best suited to run on renewable power, but it has one weak point: the anode depends on iridium, one of the scarcest metals on earth. Iridium is too costly and too scarce to build capacity at the pace the transition needs. In today’s catalysts most of it sits buried inside the material, never reacting.

Iridica has developed a patent-pending method that builds the catalyst as a monolayer, a single atom thick, cutting the amount of iridium needed by up to 90 percent without losing performance.

The technology originates from research at Chalmers University of Technology by Assistant Professor Daniel Weber, who in 2025 partnered with Vincent Hansen, now CEO, to bring it to market.