Strategic update for Smoltek Hydrogen AB – clear path towards commercialization of electrode technology

This press release is an English version of the previously published Swedish version, which has interpretive precedence.

Smoltek Nanotech Holding AB (publ) (“Smoltek” or “the Company”) publishes a strategic update for its subsidiary Smoltek Hydrogen AB. Smoltek Hydrogen is developing Smoltek PTE – a proprietary porous transport electrode based on carbon nanostructures, which is intended to meet the requirements of next-generation PEM electrolyzers for the production of fossil-free hydrogen. The full strategic update is available on Smoltek’s website under the “Investors” tab. 

Smoltek Hydrogen's porous transport electrode technology has the potential to significantly increase the catalytic activity of an electrolyzer cell, while reducing iridium consumption by up to 95% – without compromising performance. This technological innovation is considered a breakthrough with great significance for the production of green hydrogen and other sustainable energy applications.

Smoltek Hydrogen's PTE technology has been recognized this spring by enabling hydrogen production with only 0.1 mg of iridium per square centimeter – while maintaining performance in the electrolyzer cell. The company has also initiated collaborations to industrialize the technology together with Impact Coatings (manufacturing), as well as with Heraeus to optimize iridium mixtures with the aim of further increasing the amount of hydrogen produced per gram of iridium.

PEM electrolyzers are the fastest growing electrolyzer segment with an expected increase in market share from 15% in 2020 to 60% in 2030[1]. Smoltek Hydrogen's business model is designed to enable scalability and profitability with limited investment in its own production. Revenue is expected to come from PTE sales revenue, license fees, upfront payments, royalties and technical support.

The core of the business model is based on strong competitive advantages that create value for both industrial partners and Smoltek in both the short and long term: reduced use of precious metals, in particular iridium, without losing performance and sustainability, creating large margin and competitive advantages and scalability in the production of fossil-free hydrogen. This enables an estimated cost saving of approximately SEK 55,000 per square meter of PTE surface[2], corresponding to approximately 18% of the initial system cost of an electrolyzer.

During the period 2025–2026, Smoltek Hydrogen plans to carry out several important activities, including a new sustainability test for the transport electrode, tests in collaboration with potential partners and initial discussions on future licensing agreements.

As part of maximizing value for its shareholders, Smoltek is also evaluating various consolidation opportunities and structural transactions to strengthen and highlight Smoltek Hydrogen AB's long-term potential.

Read the full update at: www.smoltek.com/investors/en: Unleashing performance for Hydrogen – Smoltek Hydrogen, Strategic Update 2025.