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New Catalyst for Electrolysis Reduces Costs by 97% and Increases Hydrogen Production 400%
Hydrogen, the cleanest energy storage in the Universe, is most of the time associated with high costs, although it is extracted from water, which is the cheapest yet the most precious element to life. Extracting hydrogen from water is done through a method called electrolysis, but doing electrolysis efficiently requires the usage of catalysts such as platinum, which is very expensive. GA-based GridShift Inc., funded by Khosla Ventures announced the discovery of a new water electrolysis technology that uses no expensive metals such as platinum. GridShift brags their technology reduces the costs with the catalysts by 97 percent, with an ounce costing just $58, as opposed to $1700 an ounce for platinum. “Hydrogen is a critical piece of America’s future renewable energy policy,” said Robert Dopp, CEO of GridShift, Inc. “Our new water electrolysis process generates carbon neutral hydrogen that is cheaper than gasoline at a fraction of the cost and size of currently available water electrolysis hydrogen generators. We are now on the path to a truly viable hydrogen fueled future.”