ReCatalyst
ReCatalyst is a Slovenian nanotech catalyst platform company developing platinum-based and platinum-alloy nanocatalysts for PEM fuel cells and water electrolysers, serving hydrogen technology OEMs, MEA producers, and electrolyzer manufacturers globally.
- Company typePrivate
- Founded2021
- HeadquartersLjubljana, Slovenia
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What ReCatalyst does
ReCatalyst is a Slovenian nanotech catalyst platform company developing platinum-based and platinum-alloy nanocatalysts for proton exchange membrane (PEM) fuel cells and water electrolysers. Founded in 2021 as a spin-out from the National Institute of Chemistry in Ljubljana, the company operates from headquarters in Ljubljana, Slovenia, and serves hydrogen technology OEMs, membrane electrode assembly (MEA) producers, and electrolyzer manufacturers globally. Its core offering is a customisable nanocatalyst synthesis platform that spans the entire periodic system and is engineered to maintain product quality during scale-up from lab to fab, currently validated at TRL 6 with batches exceeding 180 grams of platinum-cobalt on carbon catalyst.
The product portfolio spans carbon-supported platinum-based catalysts, next-generation intermetallic platinum-alloy catalysts with reduced PGM loading of 0.3 mgPt/cm², PFAS-free catalyst-coated membranes, and titanium oxynitride (TiON) carbon-ceramic composite electrocatalysts targeting a three-fold cost reduction. Notable technical milestones include the first-of-its-kind fully PFAS-free PEM fuel cell short stack demonstrated with consortium partners ionysis GmbH and EKPO Fuel Cell Technologies, achieving current densities of up to 2 A/cm² at 0.65 V and matching state-of-the-art PFSA reference cells. Core technology is held under an exclusive licensing agreement with the National Institute of Chemistry, originating from the ERC StG 123STABLE research program. ReCatalyst is ISO 9001:2015 certified and has accumulated multiple recognitions, including Slovenian Start-up of the Year 2023, the WIPO National Award for Enterprises 2025, and the Falling Walls Venture win.
The company generates revenue through three streams: sales of platinum-based and platinum-alloy nanocatalysts to fuel cell and electrolyzer manufacturers, technology licensing, and participation in funded R&D projects including EIC Transition (ENABLER), Horizon Europe (ALCHEMHY), EIC Booster (MARKETHY), and ARIS projects (TITAN, StabilizaTiON, CarbNETs). Distribution is direct enterprise B2B sales supported by a 2026 channel partnership with Electroseek for research and R&D customers. With 11-50 employees and approximately €4.4M in cumulative funding (€1.7M seed equity plus ~€2.5M EIC Transition grant plus smaller grants), ReCatalyst is in early commercialization, having signed its first commercial MoU with an undisclosed MEA producer and engaged customers across five continents including five G7 economies through 19 pilot projects.
ReCatalyst firmographics
Firmographics- Name
- ReCatalyst
- Legal name
- ReCatalyst, razvoj, proizvodnja in prodaja katalizatorskih kompozitov, d.o.o.
- Website
- https://recatalyst.si
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- ReCatalyst is a Slovenian nanotech catalyst platform company developing platinum-based and platinum-alloy nanocatalysts for PEM fuel cells and water electrolysers, serving hydrogen technology OEMs, MEA producers, and electrolyzer manufacturers globally.
- Ownership category
- akta.pro rank
ReCatalyst industry classification
Industry- Product category
- Fuel Cell Catalysts
- NAICS
- Chemical Manufacturing (325), Research and Development in Nanotechnology (541713)
- SIC
- Miscellaneous Chemical Products (2890)
- akta.pro primary industry
- Precious Metals & Catalyst Materials (PGM Catalysts) (IMAEAIAN)
- akta.pro secondary industries
- Catalyst Recovery, Regeneration & Reclamation Services (IMAEAIAM), Catalyst Supports & Carriers (Alumina/Ceramics/Monoliths) (IMAEAIAL)
Keywords
Where ReCatalyst is headquartered
LocationHeadquarters
- HQ city
- Ljubljana
- HQ country
- Slovenia
- HQ region
- Europe
Offices1 record
Markets served
ReCatalyst business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Personnel, Operations, Supply Chain, Marketing or Sales, Infrastructure
Revenue model
- Catalyst product sales: Sale of platinum-based and platinum-alloy nanocatalysts to fuel cell and electrolyzer manufacturers. The company has reached first customers globally and signed MoU with MEA producer.
- Technology licensing: Licensing of proprietary catalyst technology and know-how. The company signed an exclusive licensing agreement with the National Institute of Chemistry for core technology.
- R&D project partnerships: Participation in funded R&D projects including EIC Transition (ENABLER), Horizon Europe (ALCHEMHY), EIC Booster (MARKETHY), and ARIS projects (TITAN, StabilizaTiON, CarbNETs).
Go-to-market motion1 record
Distribution channels1 record
Marketing channels5 records
ReCatalyst product offering
Product offeringCore offering
ReCatalyst develops and manufactures next-generation platinum-based and platinum-alloy nanocatalysts for PEM fuel cells and PEM water electrolysers. The company's proprietary nanotech catalyst platform enables fully customisable nanocatalyst synthesis across the entire periodic system with no quality loss during scale-up from lab to fab. Products include carbon-supported platinum catalysts, intermetallic Pt-alloy catalysts, and carbon-ceramic composite electrocatalysts using titanium oxynitride (TiON) supports, targeting reduced PGM dependency for hydrogen technology manufacturers.
Product overview
ReCatalyst operates as a nanotech catalyst platform company focused on critical raw materials sovereignty. The core offering consists of platinum-based nanocatalysts and platinum-alloy catalysts for hydrogen technologies including PEM fuel cells and water electrolysers. Their flagship products include GEN2 catalysts and specialized intermetallic Pt-alloy catalysts (ENABLER project) designed to reduce precious metal dependency while matching or exceeding state-of-the-art performance. The company also develops advanced carbon-ceramic composite electrocatalysts and conductive ceramic supports (TITAN project) for next-generation energy conversion devices.
Differentiator
Problem solved
Functional benefit
Products and services
- Platinum-Based Nanocatalysts for PEM Fuel Cells and Electrolysers Carbon-supported platinum-based nanocatalysts designed for hydrogen technologies including PEM fuel cells and PEM water electrolysers, engineered to dramatically reduce precious metal dependency while maintaining high performance and durability. Sold to fuel cell and electrolyser manufacturers globally.
- GEN2 Catalysts Next-generation catalysts developed for cleaner and more efficient electrochemical systems, distributed to research organisations and the R&D community via the Electroseek channel partnership.
- Intermetallic Pt-Alloy Catalysts (ENABLER) Next-generation intermetallic platinum-alloy catalysts designed for PFAS-free PEM fuel cells with reduced platinum content (0.3 mgPt/cm²), improved performance and durability, and higher operating temperatures up to 105°C. Developed under the EIC Transition ENABLER project.
- Conductive Ceramic Supports for PGM Electrocatalysts (TITAN) Next-generation electrocatalysts using Ru, Pt, and Ir nanoparticles supported on advanced functional conductive ceramic titanium oxynitride (TiON) for PEM fuel cells and water electrolyzers. Developed under the Slovenian Research and Innovation Agency (ARIS) TITAN project.
- Carbon-Ceramic Composite Electrocatalysts (StabilizaTiON) Novel nanocomposites based on titanium oxynitride (TiON) supported on graphitized carbon designed to stabilize and enhance PGM nanoparticle catalysts, targeting improved activity, durability, and a three-fold cost reduction for PEM fuel cells and water electrolyzers. Developed under the ARIS StabilizaTiON project.
Quantifiable outcome
- Achieved current densities up to 2 A/cm² at 0.65 V with PFAS-free catalysts, matching state-of-the-art PFSA-based reference cells
- +3 more outcomes
Companies that use ReCatalyst
Customer profileNamed customers1 record
Segments3 records
Ideal customer profiles4 records
ReCatalyst technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
ReCatalyst partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered minor and core.
- ElectroseekminorPartnership to make ReCatalyst's GEN2 catalysts more accessible to research organisations and the R&D community, expanding distribution to the broader research market.
- University of GalwayminorIrish university partner in the EIC Booster MARKETHY project focused on market analysis for anion exchange membrane electrolysis and fuel cells.
- ionysis GmbHcoreGerman start-up and consortium partner in the EIC Transition ENABLER project (€2.5M funding). ionysis is responsible for CCM (Catalyst-Coated Membrane) fabrication with PFAS-reduced technology. Together with ReCatalyst they successfully demonstrated the first PFAS-free PEM fuel cell stack.
- EKPO Fuel Cell TechnologiescoreGerman fuel cell technology company and consortium partner in the EIC Transition ENABLER project. EKPO is responsible for PEMFC technology and stack assembly. Together with ionysis and ReCatalyst, they successfully built and operated the first PFAS-free PEM fuel cell stack.
- National Institute of Chemistry (KI)coreReCatalyst is a spin-out from the National Institute of Chemistry in Ljubljana. The company signed an exclusive licensing agreement for core catalyst technology developed at the institute. The institute's Laboratory for Electrocatalysis is a key research partner in multiple projects including TITAN, StabilizaTiON, and CarbNETs.
Scale indicators5 records
Recent moves7 records
Expansion highlights6 records
ReCatalyst competitors and assessment
Company assessmentBroad incumbents
- 3M: Has historically supplied PGM catalysts and nanostructured thin-film catalyst supports (NSTF) for PEM fuel cells. Comparable as a catalyst supplier for fuel cell OEMs, though 3M exited the NSTF catalyst business in 2024.
- BASF: Global chemical giant with a fuel cell catalyst and battery materials portfolio, including precious metal catalysts. Comparable in the hydrogen catalyst space but as part of a much broader chemical and materials portfolio.
Direct peers
- Johnson Matthey: Global leader in precious metal catalysts and a major supplier of PGM-based catalysts for PEM fuel cells and electrolysers. Most directly comparable to ReCatalyst's product offering and customer base, though at vastly greater scale and with fully integrated PGM supply chains.
- Tanaka Kikinzoku Kogyo: Japan's largest precious metals refiner and a leading manufacturer of PGM catalysts for fuel cells and electrolysers. Direct competitor in platinum-alloy and Pt/C catalysts for PEM applications.
- Umicore: Belgian materials technology group with a major fuel cell catalyst business producing Pt/C and Pt-alloy catalysts for PEMFCs. Direct competitor serving the same European automotive and stationary fuel cell OEMs.
- Heraeus Precious Metals: German precious metals specialist with a growing portfolio of PGM catalysts for PEM fuel cells and PEM electrolysers. Directly comparable in geographic market and product focus, with significant R&D and PGM trading capabilities.
- Pajarito Powder: US-based startup developing engineered PGM and PGM-free electrocatalysts for PEM fuel cells and electrolysers. Closest comparable by stage, focus, and product mix to ReCatalyst.
- Acta S.p.A. Italian PEM electrolyzer and fuel cell catalyst company, also targeting PGM catalyst innovation and PFAS-related reformulation. Comparable European deep-tech catalyst peer with a similar commercialization profile.
Regional players
- HyPlat Technology: South African PGM catalyst manufacturer focused on fuel cell and electrolyzer applications. Comparable as a specialized PGM catalyst supplier leveraging proximity to PGM mining, but operating primarily in African and Asian markets.
Emerging players
- Advent Technologies: US/European developer of high-temperature PEM fuel cell membranes and MEAs with adjacent catalyst interests. Partially comparable as a fuel cell component innovator with similar commercialization challenges, though focused on membrane technology rather than catalysts.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
ReCatalyst social profiles
Digital presenceReCatalyst compliance and trust
Trust signalCompliance1 record
ReCatalyst financial estimates
Financial estimateRevenue estimate
Valuation estimate
ReCatalyst leadership team
Management profileNumber of profiles
Profiles6 records
ReCatalyst funding detail
Funding detailFunding overview
Funding rounds2 records
Investors5 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
ReCatalyst M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about ReCatalyst
What does ReCatalyst do?
ReCatalyst develops and manufactures next-generation platinum-based and platinum-alloy nanocatalysts for PEM fuel cells and PEM water electrolysers. The company's proprietary nanotech catalyst platform enables fully customisable nanocatalyst synthesis across the entire periodic system with no quality loss during scale-up from lab to fab. Products include carbon-supported platinum catalysts, intermetallic Pt-alloy catalysts, and carbon-ceramic composite electrocatalysts using titanium oxynitride (TiON) supports, targeting reduced PGM dependency for hydrogen technology manufacturers.
Is ReCatalyst a public or private company?
ReCatalyst is a private company. It is classified as venture growth investor backed and is currently operating.
When was ReCatalyst founded?
ReCatalyst was founded in 2021. It employs 11 to 50 people.
Where is ReCatalyst based?
ReCatalyst is headquartered in Ljubljana, Slovenia, in the Europe region.
How does ReCatalyst make money?
Three revenue lines are on record. Catalyst product sales are the primary driver. The others are technology licensing and R&D project partnerships.
Who are ReCatalyst's main competitors?
Broad incumbents on record are 3M and BASF. Direct peers are Johnson Matthey, Tanaka Kikinzoku Kogyo, Umicore, Heraeus Precious Metals, Pajarito Powder and Acta S.p.A.. HyPlat Technology is listed as a regional player. Advent Technologies is listed as an emerging player.
Does ReCatalyst have an API?
No public API is recorded for ReCatalyst.
What industry is ReCatalyst in?
ReCatalyst's product category is Fuel Cell Catalysts. Its primary akta.pro industry code is IMAEAIAN, Precious Metals & Catalyst Materials (PGM Catalysts), with a secondary code of IMAEAIAM, Catalyst Recovery, Regeneration & Reclamation Services. Its NAICS code is 325 and its SIC code is 2890.