Smoltek Innovation AB, a subsidiary of Smoltek Nanotech Holding AB, has changed its name to Smoltek Hydrogen AB, according to the firm.
When the innovation initiative centered on materials for electrolyzers and green hydrogen becomes its own separate business sector within Smoltek, this is the natural next step. The group’s ambitious and long-term innovation plan, however, is still firmly in place: to maintain a steady flow of new business sectors where the core technology should spark revolutionary breakthroughs that address pressing practical issues in brand-new application fields.
Smoltek has created a novel cell material for PEM electrolyzers based on its patent-protected nanofiber technology. It might significantly enhance the quantity of hydrogen generated per unit of space, resulting in electrolyzers that are up to three times smaller and hence more affordable. In addition, we at least 80% lower the quantity of iridium utilized in the production of an electrolyzer. Iridium, a crucial catalyst component that now costs around SEK 2 million per kilogram, makes this a substantial advantage.
“The change in business name to Smoltek Hydrogen AB demonstrates our commitment to our goal of supplying the future hydrogen economy with essential technologies. The industry is expanding tremendously quickly, and in 2030* it is anticipated that the market for cell materials on the anode side of a PEM electrolyzer would reach SEK 50 billion. Additionally, Europe’s degree of ambition has grown due to the severe natural gas scarcity. For us, it’s critical to make progress toward our objective of establishing ourselves as a major player in this sector, says Ellinor Ehrnberg, president of Smoltek Hydrogen AB.
Preparing the path for more new business ventures at Smoltek
Smoltek will begin implementing its long-term innovation strategy in August 2020, expanding the use of its patent-protected core nanofiber technology outside the semiconductor sector. Smoltek Innovation AB was established as a distinct group business with the mandate to transform new technological advancements from concepts into commercially viable solutions. A few interesting areas were found within the first six months, and one of them, high-performance cell materials for electrolyzers, was chosen as the initial concept to advance.
After two years, this innovative experiment has grown into a full-fledged industry that goes by the names Vätgas in Swedish and Hydrogen in English. The name of the business is now changing from Smoltek Innovation AB to Smoltek Hydrogen AB because it has its own employees, patents, and agreements for collaboration with outside parties. Building prototypes with potential clients and organizing the first pilot plant for the manufacturing of cell material are the next steps in the business field.
This entails completing a PEM electrolyzer cell on a lab size throughout the winter and working with a significant supplier of electrolyzer components, among other things. Smoltek’s innovative cell material makes it feasible to lower the size of the electrolyzer, the main component of a hydrogen plant, by up to a third when compared to current technology, according to measurements of the cell’s performance.
Smoltek will introduce further commercial ventures based on the organization’s core technology in an effort to keep generating value for shareholders. Medical technologies, advanced batteries, and supercapacitors are the next to be developed since Smoltek’s proprietary nanofiber technology has several more applications that are still being investigated.
“Smoltek has remarkable potential for new goods, procedures, and out-licensing. According to Smoltek CTO Farzan Ghavanini, “Our basic technology creates a platform that may lead to dramatic advancements in any industry, where downsizing and energy efficiency dictate who wins the technological race.
