Canadian company Cipher Neutron Inc. received funding from Molibdenos y Metales S.A. to accelerate the development of Rhenium-Based Anion Exchange Membrane (AEM) Electrolyser Technology. The aim of this Research Collaboration is to promote the use of Rhenium as a catalyst in electrolysers. Rhenium has been shown by third-party studies to provide a cost-effective alternative to platinum group metals offering similar catalytic properties without the high expense associated with platinum group metals.

Rhenium is seen as mitigating potential supply chain uncertainties associated with platinum group metals. The use of Rhenium as a catalyst in Cipher Neutron?s AEM electrolysers, which are already free from platinum group metals, can potentially further enhance the performance and durability of the already successful Cipher Neutron AEM Electrolyser Technology. This Research Collaboration is in furtherance of the collaborative relationship between Cipher Neutron and Molymet agreed upon pursuant to the Memorandum of Understanding between CN and Molymet publicly announced by Cipher Neutron in 2023.

See the Press Release of Cipher Neutron dated April 21, 2023. This Research Collaboration and new purchase order is separate from, and in addition to, Molymet?s purchase order for CN?s innovative Anion Exchange Membrane (AEM) Electrolyser Technology announced January 8, 2024. Cipher Neutron and Molymet aim to establish the following characteristics in AEM Electrolysers using Rhenium which global users of Green Hydrogen Electrolysers increasingly seek: High Current Density, High Purity of Hydrogen, High electrical efficiency, Low Catalyst degradation and Low Capital expenditures.