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DOE OSTI2026

Hydrogen Production System Scaling Using a High-Fidelity Simulation-Optimization Framework

Proton exchange membrane (PEM) electrolyzers are widely used for hydrogen production, yet few validated, high-fidelity tools can reliably guide scale-up. Using measured performance from a 50-hour hardware-in-the-loop pilot test, a physics-based, plant-level model of a 1.25 MW PEM electrolyzer and its balance-of-plant (BoP) subsystems is developed and validated. The model couples electrochemistry and thermal/flow submodels and is calibrated against pilot test data via a genetic algorithm (GA) workflow. Validation yields a mean absolute percentage error (APE) of 0.43% for cell voltage and stack power. Two scale-out strategies are then benchmarked under a common 7-day wind-and-photovoltaic (PV) profile: (i) linear duplication of 1.25 MW blocks and (ii) shared-BoP architectures. Sharing BoP between stacks reduces BoP energy by 27% at 10 MW and 34% at 100 MW (vs. linear duplication) and improves system specific energy consumption (SEC) to 52.9 and 52.6 kWh/kg, respectively (from 54.0 kWh/kg with linear duplication). Partial-load studies (25-100% set-point) show that cumulative hydrogen production remains nearly constant down to 50% load because all cases use the same weekly renewable-energy input. Below 50%, the power cap limits how much energy can be used within 168 h, which reduces hydrogen output. The model further indicates that the practical operating optimum lies between 50% and 85% load, where efficiency gains begin to appear without significant loss in hydrogen output. Moreover, the efficiency gains at lower loads are offset by reduced production. The validated framework supports scenario-based engineering trade-off studies for large configurations (10-100 MW) and for operating policies under variable renewables.

08 HYDROGEN↗

DOE OSTI2025

Comprehensive techno-economic and life cycle greenhouse gases analysis of green ammonia production utilizing PV and wind energy: Jordan as a case study

Ammonia (NH 3 ) has emerged as a critical player in the global energy transition due to its potential as a low-carbon fuel. Conventional ammonia production methods, primarily through steam methane reforming, are significant contributors to global CO 2 emissions. This study investigates the potential of green ammonia production in Jordan by leveraging the country's abundant solar photovoltaic and wind energy resources. A comprehensive techno-economic and life cycle greenhouse gas analysis was conducted to compare green ammonia production with conventional grey and blue ammonia pathways. Here, the study utilized spatial mapping to assess renewable energy capacity factors across Jordan and optimized the integration of hybrid PV/wind systems with proton exchange membrane (PEM) electrolyzers. The results indicate that the levelized cost of green ammonia (LCOA) in Jordan varies between 900 USD/kg NH 3 and 2500 USD/kg NH 3 which is significantly higher than grey ammonia (similar to 360 USD/kg NH 3 ). Nevertheless, the carbon intensity of green ammonia production (between 0.1 kg CO 2eq /kg NH 3 and 0.5 kg CO 2eq /kg NH 3 ) is much lower than the grey ammonia (1.8 kg CO 2eq /kg NH 3 ). Finally, the results indicate that considering future reductions in capital costs and advancement in renewable energy systems and PEM electrolyzers as well as the ability to sell the co-product O 2 can reduce the LCOA by up to 92 % and make it competitive with grey ammonia.

Green Ammonia↗

DOE OSTI2025

Global techno-economic and life cycle greenhouse gas emissions assessment of solar and wind based renewable hydrogen production

This study conducts a global assessment of renewable hydrogen production pathways, focusing on techno-economic performance and life cycle greenhouse gas (GHG) emissions. It evaluates standalone solar photovoltaic (PV), wind, and hybrid PV/wind systems, integrated with proton exchange membrane (PEM) electrolyzers, through multi-objective optimization and considering embodied emissions in manufacturing PV, wind and electrolyzers. Results identify optimal configurations to minimize levelized cost of hydrogen (LCOH) and carbon intensity (CI) of hydrogen, showing potential reductions of cost and CI by 2030. Standalone PV systems can achieve LCOH values smaller than 6.5 USD/kg H 2 and CI less than 2.5 kg CO 2 eq/kg H 2 in regions with high solar irradiance, such as North Africa, the Middle East and Chile. Wind systems in regions such as Middle East, North Africa, Australia and Central United States achieve LCOH below 5 USD/kg H 2 and CI under 1.5 kg CO 2 eq/kg H 2 . Hybrid systems emerge as the optimal solution for minimizing both the LCOH and CI by maximizing the use of renewable energy. Moreover, the results also indicate that, with the technological advancements, future reduction in the capital cost of renewable energy systems and the PEM electrolyzer as well as the trade of coproduct O 2 could drive the LCOH of all the RES-based hydrogen systems below 1 USD/kg H 2 and the CI below zero in different regions as Middle East, North Africa and Central United State

08 HYDROGEN↗

DOE OSTI2026

Time of Flight Secondary Ion Mass Spectrometry for Characterization of Pt-Coated Porous Transport Layers in PEM Water Electrolyzers

Titanium-based porous transport layers (PTLs) and iridium-based catalyst layers (CLs) are two main components of proton exchange membrane water electrolyzers (PEMWEs). PTLs are typically coated with platinum to minimize interfacial losses and to support long-term operation. Optimizing coatings and the PTL-CL interface requires comprehensive characterization. This study establishes time-of-flight secondary ion mass spectrometry (ToF-SIMS) as a valuable technique for PTL characterization, addressing capabilities and limitations related to PTL morphology. A methodology was developed that uses a Cs + sputter beam for dynamic depth profiling, with data collected in both positive-ion (MCs + ) and negative-ion modes to generate depth profiles, 2D ion maps, and 3D ion reconstructions. ToF-SIMS detected relative differences in platinum-layer thickness between samples; these trends were validated by cross-sectional scanning transmission electron microscope (STEM) measurements and flat-titanium substrate controls. Interfacial oxide layers are identified in both ion modes, with enhanced oxide sensitivity in negative mode. The technique’s high sensitivity enables detection of nanometer-scale coatings and trace impurities within the bulk PTL structure. These results provide a methodological framework for analyzing Pt-coated PTLs, with the potential to extend to other components in PEMWEs and other electrolyzer systems.

36 MATERIALS SCIENCE↗

DOE OSTI2025

Importance of hydrogen oxidation reaction current in quantifying hydrogen crossover in PEM water electrolyzers at high differential pressure

Understanding hydrogen permeation in proton exchange membrane water electrolyzers (PEMWEs) operating at high differential pressures (>25 bar) is critical towards developing effective gas recombination strategies that enable safe operation and high efficiency. Developing this understanding relies on accurate quantification of hydrogen crossover rates in water electrolyzers operating under such conditions. In this work, we show that PEMWEs operating at high differential pressures exhibit noticeable hydrogen oxidation reaction (HOR) currents. As the HOR consumes part of the permeated hydrogen at the anode, neglecting HOR currents leads to severe underestimation of the hydrogen crossover rate. We implemented a new method combining hydrogen oxidation current with online gas chromatography measurements to accurately quantify hydrogen crossover rates as a function of operating current density in PEMWEs operating at high differential pressures (10–30 bar g ).

25 ENERGY STORAGE↗

DOE OSTI2026

Demonstration of Electrolyzer Operation at a Nuclear Plant to Allow for Dynamic Participation in an Organized Electricity Market and In-House Hydrogen Supply

This document details the execution of Cooperative Agreement DE-EE0008849, “demonstration of electrolyzer operation at a nuclear plant to allow for dynamic participation in an organized electricity market and in-house hydrogen supply” during the performance period of 10/1/2019 – 9/30/2024. The project was funded by the U.S. Department of Energy’s Office of Energy Efficiency and Renewable Energy (EERE). Constellation Energy Generation, LLC (formerly Exelon Generation Company, LLC) is the prime recipient of the award. Other members of the project team are INL, NREL, ANL and Nel Hydrogen. The main project objective was to demonstrate an end-to-end integrated grid-scale carbon-free H 2 production, storage and utilization pilot plant at a nuclear generating facility. The project also aimed to evaluate market opportunities and regulatory requirements related to the participation of integrated hydrogen production and nuclear plant facilities in organized power markets, by demonstrating dynamic control and operation of the electrolyzer and assessing the economics of dynamic participation combined with the revenue streams from hydrogen production. On March 7th , 2023 Constellation started hydrogen production at it’s Nine Mile Point Nuclear Plant in Oswego, New York. The PEM electrolyzer operating at Nine Mile Point uses 1.25 megawatt of nuclear electricity to produce 560 kilograms of clean hydrogen per day, more than enough to meet the plant’s operational hydrogen use. It will also help set the stage for possible large-scale deployments at other clean energy centers in Constellation’s fleet that would couple clean hydrogen production with storage and other on-site uses. Employing the lessons learned from the 1.25 MW demonstration-scale, nuclear-powered clean hydrogen production facility at Nine Mile Point, Constellation was a major participant in the MachH2 hydrogen hub recently selected for up to $\$$1 billion by the Department of Energy (DOE) as part of the bipartisan Infrastructure Investment and Jobs Act. Constellation will use a portion of the hub funding to build the world’s largest nuclear-powered clean hydrogen production facility at its LaSalle Clean Energy Center in Illinois. The project was featured in a number of news articles and press releases and received 2 awards. At the 2023 DOE HFTO’s Annual Merit Review meeting, the P.I. Dr. Uuganbayar Otgonbaatar and project manager Robert Beaumont were recognized for “outstanding achievements in the development and demonstration of a first-of-a-kind clean hydrogen production facility, powered by carbon-free nuclear energy, at the Nine Mile Point Nuclear Station in Oswego, New York.” The project was also awarded 2023 Nuclear Energy Institute’s Top Innovative Practice award.

08 HYDROGEN↗

DOE OSTI2023

Titanium porous-transport layers for PEM water electrolysis prepared by tape casting

While the porous-transport layer (PTL) is a key component in PEM electrolyzers, it is one of the most underexplored due to limited available structures. In this work, we present a novel PTL design for PEM water electrolyzers enabled by a cost-effective, scalable tape-casting technique. Here, a precise control of the PTL pore structure is achieved by incorporating poreformers of various sizes, and by varying the titanium and poreformer ratio. The structures are characterized with SEM and synchrotron X-ray computed tomography imaging techniques. Comprehensive electrochemical performance analysis demonstrates that higher titanium loading provides improved contact at the catalyst-layer/PTL interface but suffers from severe mass-transport losses due to gas bubbles. We solve this mass-transport problem by mixing in large poreformer beads that produce a highly porous structure with excellent gas removal properties yet still maintaining mechanical integrity. The PTL fabricated with 60:40 Ti:PMMA ratio and 60 μm PMMA bead size outperformed the standard commercial Ti powder-based PTL by 62 mV at 4 A/cm 2 .

25 ENERGY STORAGE↗

DOE OSTI2026

Mechanism-Informed Breakdown: Understanding Degradation by Controlling Voltage-Hold Patterns in Proton Exchange Membrane Water Electrolyzers

Low catalyst loadings pose challenges to performance stability in proton exchange membrane (PEM) water electrolysis over extended operation. To study the impact of degradation mechanisms and voltage loss rates, different stress tests are applied to membrane electrode assemblies. Potential cycling conditions were observed to induce higher degrees of iridium (Ir) oxide crystallization, ionomer degradation, and catalyst layer (CL) thinning, which likely contributed to higher kinetic loss rates. On the other hand, while Ir migrating into the PEM (Ir band) generally impairs performance, the interconnected and more uniform Ir band formed under a constant 2 V hold may allow for Ir at the catalyst/membrane interface to remain electronically connected and kinetically accessible, as well as indicate greater Ir site access during the applied stressor. The 2 V hold also demonstrates improved kinetic durability through a lower Tafel slope, faster polarization kinetics, and reduced charge transfer resistance. In contrast, potential cycling caused the migration of disconnected Ir agglomerates into the membrane bulk and created a steady increase in charge transfer resistance, a more dramatic decrease in capacitance (46.7% loss), and significant damage to the surrounding ionomer, indicating a decline in both the quality and quantity of active sites in the anode CL. This work underscores the distinct degradation pathways associated with load holds versus cycling, highlighting the role of catalyst-ionomer interactions in kinetic performance and long-term stability. These insights can inform operational strategies for PEM electrolyzers powered by intermittent energy sources, aiming to minimize efficiency losses over extended operation.

36 MATERIALS SCIENCE↗

DOE OSTI2025

Renewable hydrogen horizon: Geospatial techno-economic feasibility and life cycle greenhouse gas analysis in the Middle East and North Africa

Renewable hydrogen is receiving increasing attention for its potential as a flexible energy carrier in sectors such as transportation and industry. Specific cost and carbon intensity (CI) of renewable hydrogen production vary largely based on the location, owing to differences in renewable energy resources, as well as the supply chain dynamics. This study maps the techno-economic and life cycle greenhouse gas emissions of renewable hydrogen production in the Middle East and North Africa region, leveraging abundant solar and wind resources. The work investigates the variability in hydrogen costs and CI, optimally sizing proton-exchange membrane (PEM) electrolyzers to account for partial and cyclic loading, and explores standalone versus grid-connected systems. PEM capacity ratios of 52 %–63 % for photovoltaic (PV) systems and 28 %–82 % for wind systems were identified as optimal, with hydrogen production costs ranging from $\$3.8$-$\$4.8$/kg for PV and $2.0-$7.0/kg for wind. CIs span from 1.9 to 3.7 kg CO 2 ,eq /kg H 2 for PV and 0.4–7.7 kg CO 2,eq /kg H 2 for wind systems. The study highlights significant cost and CI reductions achievable with technological advancements and co-product revenue from oxygen and excess electricity sales.

Carbon Intensity↗

DOE OSTI2026

Cost estimation of balance of plant equipment scale up for proton exchange membrane water electrolyzer systems

Water electrolyzers that use electricity to split water into hydrogen and oxygen could be a key technology for increasing hydrogen supply to meet expanded and emerging market applications, although currently the capital costs of these electrolyzers are high. Here we examine cost reductions that might be achieved by scaling up proton exchange membrane (PEM) electrolyzer systems and leveraging economies of scale through balance of plant (BOP) components for system sizes between 1 MW and 1 GW. We estimate BOP equipment capital costs of about $\$$848/kW at 1 MW, potentially decreasing to $\$$87/kW at 1 GW (2022-dollar year basis) with most of the cost reduction happening as systems scale from 1 MW to 100 MW. We find that BOP subsystems hydrogen drying and water knockout benefited the most from economies-of-scale cost reductions, and piping, instrumentation, and housing and power electronics were less impacted. These cost reductions from economies of scale could be more significant than estimated cost reductions from manufacturing scale-up reported in literature. These results add to the knowledge base that could guide optimal system designs that balance process scale-up with plant modularization and numbering-up. We also estimate that scaling up BOP could potentially lower the levelized cost of hydrogen (LCOH) by $\$$1.7-$\$$4.6/kg, depending on the scale-up magnitude and the plant capacity factor.

08 HYDROGEN↗

DOE OSTI2026

Toward the application of the Risk-Based Maintenance approach to a hydrogen-fueled manufacturing plant

Safety, reliability, and maintenance of hydrogen-based equipment, including Risk-Based Maintenance (RBM), have recently gained increasing attention, as hydrogen, while key to decarbonizing hard-to-abate sectors, raises safety concerns. However, two literature gaps limit the development of risk-based strategies for hydrogen technologies. First, existing RBM methodologies do not account for hydrogen-specific components, such as electrolyzers, which differ from conventional equipment. Second, available studies on electrolyzer reliability remain largely qualitative or laboratory-scale. This study addresses these gaps by proposing an adapted RBM methodology tailored to hydrogen-fueled manufacturing facilities. Integrating qualitative tools (e.g., FMEA) with probabilistic models (e.g., Bayesian Networks) enables comprehensive hazardous scenarios identification and likelihood estimation. A conceptual layout of a glass furnace supplied by a 3 MW PEM electrolyzer is considered as a case study to demonstrate the feasibility of the adapted RBM framework in identifying high-risk components and enabling maintenance prioritization, potentially improving plant safety.

08 HYDROGEN↗

DOE OSTI2024

Performance Losses and Current-Driven Recovery from Cation Contaminants in PEM Water Electrolysis

Water contaminants are a common cause of failure for polymer electrolyte membrane (PEM) electrolyzers in the field as well as a confounding factor in research on cell performance and durability. In this study, we investigated the performance impacts of feed water containing representative tap water cations at concentrations ranging from 0.5–500 μ M, with conductivities spanning from ASTM Type II to tap-water levels. We present multiple diagnostic signatures to help identify the presence of contaminants in PEM electrolysis cells. Through analysis of polarization curves and impedance spectroscopy to understand the origins of performance losses, we found that a switch from the acidic to alkaline hydrogen evolution mechanism is a key factor in contaminated cell behavior. Finally, we demonstrated that this mechanism switching can be harnessed to remove cation contaminants and recover cell performance without the use of an acid wash. We demonstrated near-complete recovery of cells contaminated with sodium and calcium, and partial recovery of a cell contaminated with iron, which was further investigated by post-mortem microscopy. The improved understanding of contaminant impacts from this work can inform development of strategies to mitigate or recover performance losses as well as improve the consistency and rigor of electrolysis research.

30 DIRECT ENERGY CONVERSION↗

DOE OSTI2024

Hydrogen and its Vital Role in a Clean Energy Future

Large-scale, low -cost hydrogen production can enable an economically competitive, secure, and environmentally beneficial future energy system across multiple sectors. Furthermore, clean hydrogen can address specific sectors that are hard to decarbonize (e.g., heavy-duty trucking, load-following electricity, iron, steel, and cement) and can help the U.S. meet the net zero carbon goal by 2050. To achieve this goal, tens of millions of metric tons of clean, reliable, and affordable hydrogen will be needed annually1. In 2021, the Hydrogen Energy Earthshot was launched, and its goal is to reduce the cost of clean hydrogen to $1 per $1 kilogram in 1 decade (1 1 1) 2. One very promising pathway for large-scale hydrogen production is water splitting. Water splitting technologies range from commercial technologies such as electrolyzers to approaches that are at a much earlier stage of development, such as photoelectrochemical (PEC) and thermochemical (TCH) processes. All these water splitting pathways offer diverse benefits in energy storage, grid services, and cross-sector emissions reductions while taking advantage of the diverse domestic resources. However, critical materials-, component- and system-level challenges must be addressed to improve efficiency and durability and reduce cost. To address these barriers and move these promising and high impact technologies forward, the HydroGEN Advanced Water Splitting Materials (AWSM) and the H2 from the Next-generation of Electrolyzers of Water (H2NEW) consortia were formed and supported by the Department of Energy (DOE) EERE Hydrogen and Fuel Cell Technologies Office (HFTO). HydroGEN (https://www.energy.gov/eere/h2awsm/) consortium, established in 2016, is an Energy Materials Network (EMN) that aims to accelerate the materials R&D of low technology readiness level (TRL) advanced water splitting (AWS) technologies. The consortium comprises five core national laboratories and focuses on four early-stage AWS pathways: alkaline exchange membrane (AEM) electrolysis, proton conducting solid oxide electrolysis (p-SOEC), photoelectrochemical, and thermochemical water splitting. Liquid alkaline and PEM electrolyzers are already commercial and significant advancements in oxygen conducting solid oxide electrolysis cells (o-SOECs) have been realized. Yet, these systems are still too expensive and not sufficiently durable for wide-scale commercialization. To enable high-volume manufacturing of affordable, durable, efficient electrolyzers, H2NEW (https://h2new.energy.gov/), another multi-lab consortium, was established in 2020. This comprehensive, concerted effort is focused on overcoming barriers related to components and materials integration and scale-up to achieve performance, durability, with an initial focus to achieve $2/kg H2 by 2026.

AEM↗

DOE OSTI2023

Discovering Reactant Supply Pathways at Electrode/PEM Reaction Interfaces Via a Tailored Interface-Visible Characterization Cell

In situ and micro-scale visualization of electrochemical reactions and multiphase transports on the interface of porous transport electrode (PTE) materials and solid polymer electrolyte (SPE) has been one of the greatest challenges for electrochemical energy conversion devices, such as proton exchange membrane electrolyzer cells (PEMECs), CO 2 reduction electrolyzers, PEM fuel cells, etc. Here, an interface-visible characterization cell (IV-CC) is developed to in situ visualize micro-scaled and rapid electrochemical reactions and transports in PTE/SPE interfaces. Taking the PEMEC of a green hydrogen generator as a study case, the unanticipated local gas blockage, micro water droplets, and their evolution processes are successfully visualized on PTE/PEM interfaces in a practical PEMEC device, indicating the existence of unconventional reactant supply pathways in PEMs. Further comprehensive results reveal that PEM water supplies to reaction interfaces are significantly impacted with current densities. Here these results provide critical insights about the reaction interface optimization and mass transport enhancement in various electrochemical energy conversion devices.

30 DIRECT ENERGY CONVERSION↗

DOE OSTI2026

Tantalum oxide stabilized molybdenum-doped ruthenium oxide electrocatalysts for PEM water electrolysis

Proton exchange membrane (PEM) water electrolysis offers key advantages, including high current density, high efficiency, and compact system architecture for hydrogen production. However, its widespread implementation is limited by the scarcity and high cost of Ir-based anodic catalysts. Herein, we report an Ir-free electrocatalyst for the acidic oxygen evolution reaction (OER): tantalum oxide (TaO x )–coated molybdenum-doped RuO 2 (TaO x -MoRuO 2 ). The catalyst exhibits a low overpotential of 180 mV at 10 mA cm -2 and excellent durability, with a degradation rate of 0.034 mV h -1 over a 150-hour test at 50 mA cm -2 —surpassing other Ru-based catalysts evaluated under similar conditions. A PEM electrolyzer employing TaO x -MoRuO 2 as the anode maintained stable operation for 100 hours at 500 mA cm -2 . In conclusion, the TaO x coating layer suppresses Ru and Mo dissolution, thus enhancing their stability likely via interfacial electronic reconfiguration of Ru and Mo mediated by bridging oxygen atoms.

Durability↗

DOE OSTI2025

Linking structure to performance: Characterization of porous transport layers for high-pressure water electrolysis

Proton exchange membrane (PEM) water electrolysis is a promising technology to produce cost-efficient hydrogen. PEM electrolyzers offer a large current density range and the ability to operate at differential pressure which can be used to minimize both capital and operational expenditures. However, directly producing pressurized hydrogen at the cathode results in pushing the membrane against the anode porous transport layer (PTL). This can lead to detrimental effects, such as membrane deformation or ruptures, which depend on membrane properties as well as PTL material properties such as pore size, structure, and morphology. In this work, a range of sinter and felt-based commercial PTLs are evaluated for their contributions to the cell's electrochemical and H 2 crossover performance at cathode pressures up to 30 bar. X-ray tomography and post-operando optical microscopy are used to assess the morphology of the PTLs, and the PTL induced deformation experienced by the catalyst coated membrane (CCM), respectively. PTL samples with lower porosity were found to reduce both the cell voltage and the amount of H 2 permeating from the cathode to the anode exhaust, which was ascribed to improved catalyst layer contact and reduced membrane deformation, respectively. The best performing PTLs improved electrolyzer efficiency by ~1.5 kWh/kg H2 . Specifically, 1 kWh/kg H2 was gained due to reducing membrane deformation and decreasing H 2 crossover. The remainder 0.5 kWh/kg H2 were achieved by improving the electrical contact at the electrode/PTL interface which decreased cell voltage.

08 HYDROGEN↗

DOE OSTI2022

HOMP (Hybrid Operation and Maintenance Platform) [SWR-22-81]

The HOMP software module is contained within NREL's Hybrid Optimization and Performance Platform (HOPP) at this URL: https://github.com/NREL/HOPP/tree/feature/HOMP. HOMP is a python-based software module which can be used concurrently with the Hybrid Optimization and Performance Platform (HOPP) to model, simulate, and optimize degradation, reliability, and operations and maintenance of hybrid power plant components. The program currently models lithium ion battery, PEM electrolyzer, wind turbine, and solar PV array components, which enables users to understand the design and operation tradeoffs of hybrid power plants. For instance, HOMP enables users to answer questions like: how large does a battery bank need to be to achieve optimal charge/discharge rates for performance and reliability? How does plant design change for different objectives (e.g., profit versus resilience)? Under what conditions is it better to produce electricity versus hydrogen? How do we optimally control hybrid power plants to reduce downtime and increase performance?

Clark, Caitlyn↗

DOE OSTI2025

Platinum Group Metals Global Economics Market Supply

Due to uncertainty in the transition away from internal combustion engines (and more importantly, the catalytic convertors these automobiles use), there is large uncertainty in the future of the PGM market. However, proton exchange membrane (PEM) electrolyzers could be a new demand application for PGMs. Therefore, a model was developed which utilizes the system dynamics approach to predict supply and prices for specific demand scenarios. Results indicated that the total PGM market value sees a decline in the late 2020s due to changing automotive application demand. Market decline was due to decreasing internal combustion engine (ICE) vehicle demand resulting in less PGMs supplied for automotive applications. Compounding market decline was an increase in secondary supply of PGMs as more ICE automotives reach their EOL pushing PGM prices down as secondary supply increases while demand simultaneously decreases. Following the market decline, an increase in market value in the early 2030s was observed due to deployment of hydrogen fuel cell technologies and subsequent increase in PGM demand

Kulkarni, Sameer (0000000227573592)↗