[ materials ]
lyzer is retired and recycled for future use . Although current recycling rates of iridium are low , some researchers predict that the end-of-life recycling rate of iridium could increase to around 90 %, similar to other precious metals like platinum and palladium . This could help address the iridium problem in the long term , when there is more electrolyzer capacity to recover material from after use . 6
Both of these solutions can reduce strain on global iridium supplies during the growth of the electrolyzer market . However , while iridium ’ s scarcity imposes harsh limitations on future electrolyzer development , its price volatility could be a larger risk in the near term . With a limited global supply and multiple novel technologies that rely on the material , including electrolyzers and 5G infrastructure , iridium is subject to major fluctuations in price over time . Efforts like recycling of or reducing the amount of iridium can lessen the impact of price volatility on overall electrolyzer costs but cannot eliminate the problem entirely . Solutions that offer alternatives to iridium , however , could both minimize the issue of cost in the
near term and relieve pressure on global iridium supplies in the long term .
New catalyst discovery
Novel catalyst development targets three often competing objectives : to reduce material costs , to increase stability , and to increase activity . For the PEM electrolyzer industry , the importance of each of these objectives can vary with the use case . For example , for energy storage applications , capital costs contribute more substantially than electricity costs to the overall cost of the electrolyzer . In this use case , cheaper but less efficient catalysts could provide more economic benefit than more expensive , more efficient ones . 7 Discovering a diverse family of catalysts to replace iridium oxide could be the essential key to enabling a hydrogen economy .
As a case in point , research from the California Institute of Technology ( Caltech ), backed by a USD 122 million Joint Center for Artificial Photosynthesis ( JCAP ) program established by the Department of Energy and a group of universities , including Caltech , University of California , Berkeley , Stanford
Monthly average iridium prices from Johnson Matthey show high price volatility over the past decade .
36 Hydrogen Tech World | Issue 6 | October 2022