Smoltek Innovation changes name to Smoltek Hydrogen

The renam­ing of the sub­sidiary is a log­i­cal next step when the inno­va­tion project around mate­ri­als for elec­trolyz­ers and green hydro­gen is now its own inde­pen­dent busi­ness area with­in Smoltek, and the new com­pa­ny name shows that we are com­mit­ted to the ambi­tion to pro­vide the new hydro­gen econ­o­my with deci­sive technology.

“The glob­al hydro­gen mar­ket is grow­ing incred­i­bly fast, and the mar­ket for cell mate­r­i­al on the anode side of a PEM elec­trolyz­er alone is expect­ed to reach SEK 65 bil­lion in 2030. In addi­tion, the acute short­age of nat­ur­al gas has fur­ther increased the lev­el of ambi­tion in Europe. For us, it is impor­tant to quick­ly reach the goal of becom­ing an estab­lished play­er in this market.”

Elli­nor Ehrn­berg, Pres­i­dent of Smoltek Hydrogen

* Elec­trolyz­er Mar­ket worth over $65 Bn by 2030

Scop­ing for new inno­va­tion areas
Smoltek Inno­va­tion was formed as a sep­a­rate group com­pa­ny in August 2020, with the task of tak­ing new tech­nol­o­gy-dri­ven inno­va­tions from con­cept to prod­ucts for the mar­ket. Dur­ing the first six months, a hand­ful of promis­ing areas were iden­ti­fied, with one of them, high-per­for­mance cell mate­ri­als for elec­trolyz­ers, select­ed to be the first con­cept to devel­op further.

The ambi­tion to devel­op our tech­nol­o­gy into new busi­ness areas is still some­thing we look into, and next in line is con­cept devel­op­ment in areas such as med­ical tech­nol­o­gy, next-gen­er­a­tion bat­ter­ies and super­ca­pac­i­tors. These are areas where we con­sid­er our tech­nol­o­gy around nanofibers to be use­ful and pos­si­ble to explore. This is now car­ried out by the R&D‑department.

Smoltek Hydrogen - electrolyzer cell material
Based on Smoltek's patent-protected nanofiber technology, a new cell material for PEM electrolyzers has been developed. It has the potential to greatly increase the amount of hydrogen produced per unit area, leading to up to three times smaller and thus cheaper electrolysers. Furthermore, we reduce the amount of iridium used when manufacturing an electrolyzer by at least 80%. This is a significant advantage because iridium is a critical catalyst material that currently costs roughly SEK 2 million per kilogram.