Smoltek Nanotech Holding AB (Smoltek) announced that the group company Smoltek Innovation AB ("Smoltek
Innovation") has signed a collaboration agreement with a large international manufacturer of material for electrolyzers. The collaboration agreement includes the development of demonstrators for Smoltek's highly efficient nanofiber-based cell material for PEM electrolyzers. The parties have signed a collaboration agreement, which means that Smoltek's carbon nanofibers and corrosion protection will be combined with other materials from the manufacturer, and catalyst particles from a third party, into a lab-sized demonstrator. This demonstration material will then be integrated into a complete PEM electrolyzer cell, followed by test runs and measurement of its performance. This project is conducted to verify the potential of Smoltek's nanofiber-based cell material and its ability to reduce the amount of extremely expensive catalyst particles in PEM electrolyzers. Smoltek's carbon nanofiber technology increases the active surface that is in contact with the membrane in the electrolyzer cell, which in turn reduces the total size of the electrolyzer with maintained production capacity. The parties have agreed to equally share the costs of work performed by third parties. Other terms in the agreement are not communicated.