Anion exchange membrane (AEM) electrolysis is hampered by two main issues: stability and performance. Focusing on the latter, this work demonstrates a highly active NiMo cathode for hydrogen evolution in AEM electrolysis. We demonstrate an electrolyzer performance of 1 A cm⁻² at 1.9 V (total cell voltage) with a NiMo loading of 5 mg cm⁻² and an iridium black anode in 1 M KOH at 50 °C, that may be compared to 1.8 V for a similar cell with Pt at the cathode. The catalysts developed here will be significant in supporting the pursuit of cheap and environmentally friendly hydrogen fuel.

Anion exchange membrane (AEM) electrolysis aims to combine the benefits of alkaline electrolysis, such as stability of the cheap catalyst and advantages of proton‐exchange membrane systems, like the ability to operate at differential pressure, fast dynamic response, low energy losses, and higher current density. However, as of today, AEM electrolysis is limited by AEMs exhibiting insufficient ionic conductivity as well as lower catalyst activity and stability. Herein, recent developments and outlook of AEM electrolysis such as cost‐efficient transition metal catalysts for hydrogen evolution reaction and oxygen evolution reaction, AEMs, ionomer, electrolytes, ionomer catalyst–electrolyte interaction, and membrane‐electrode assembly performance and stability are described.