Milvus Advanced

About the solution

Milvus Advanced is a materials science company developing novel nanomaterials that replace scarce and costly platinum group metals in clean energy technologies. Electrolyzers relied upon for producing green hydrogen and other low carbon fuels currently depend on platinum and iridium, two metals that face supply constraints and significant price volatility. These materials also represent a large share of total electrolyzer stack costs. Milvus has developed a proprietary platform that uses abundant elements including copper, nickel and iron to deliver catalytic performance comparable to traditional PGM based systems at a fraction of the cost.

Milvus’s approach addresses two critical challenges in the energy transition. First, it offers a scalable and affordable pathway to reduce the cost of electrolyzer catalysts by up to 70 percent, helping to unlock wider deployment of clean hydrogen. Second, it reduces dependence on rare metals that cannot meet the rapidly growing demand for green technologies. With successful early testing by leading industrial players, Milvus is progressing from laboratory validation to commercial readiness with the potential to accelerate the scale up of low carbon fuels and next generation clean energy systems.

EQT Foundation's investment

EQT Foundation has invested 200k EUR as part of Milvus’s 5 million pound Seed round led by Hoxton Ventures. The funding will support Milvus as it scales its manufacturing processes, expands performance validation and builds a world class technical and commercial team. Through EQT’s global industrial network, Milvus will gain access to potential partners and customers across hydrogen production and energy infrastructure.