According to The Nikkei Asia, Japanese manufacturers such as Toshiba and Toray Industries are developing new technology that produces cheaper "green" hydrogen, part of efforts geared toward promoting the use of the clean-burning fuel.
Green hydrogen, which is made with renewable energy, is typically produced with electrolyzers that break down water molecules into hydrogen and oxygen. Electrolyzers that use polymer electrolyte membranes (PEM) require electrodes containing iridium, a rare metal.
Only about 10 tonnes of iridium is produced globally in a given year, and price of the metal is now 2.5 times that of gold in the face of demand from the green hydrogen industry.
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