Affordable Fuel Cell Catalysts – A reality within reach

PPC’s products include precious-metal free catalysts and ultra low load platinum catalysts supports. In addition, PPC will design and develop custom catalysts as well as provide contract manufacturing services.

All of PPC’s offerings demonstrate high stability and durability.


PPC’s core product offering, the NPC-2000 is a high-performance, non-PGM, drop-in fuel cell catalyst.

Suitable applications for the NPC-2000:

  • stationary (including CHP)
  • backup
  • material handling


A variant of PPC’s core offering, the NPC-2000X product line provides similar performance for customers who require catalyst formations that are free of particular transition elements, such as iron.

Suitable applications for the NPC-2000X:

  • stationary (including CHP)
  • backup
  • material handling


The NPC-1000 represents a lower performance, high value catalyst option for clients with lower power density requirements.

Suitable applications for the NPC-1000:

  • consumer disposable applications
  • biofuel cells


Available for preliminary testing, the PHC-3000 offers up a catalyst support for ultra low loaded platinum catalysts for clients with higher performance requirements.

Suitable applications for the PHC-3000:

  • motive applications
  • other high-power density needs

More detailed technical information on each of PPC’s line of catalysts and catalyst supports can be found by downloading the company’s product data sheet from our Resources page.

Custom Catalyst Design

PPC knows that specific requirements mandate variations in fuel cell catalysts. Our team will design, develop and manufacture a catalyst highly customized to the needs of a wide variety of client applications.

Contract Manufacturing

PPC also provides contract manufacturing for fuel cell catalysts, using custom client designs.

PPC is currently accepting sample-level and commercial-level orders sampling to select customers and is accepting commercial orders. For more information, contact us at

About us

The PPC team has the practical application, theoretical, implementation, manufacturing, and business experience to build a business from the ground up. With the backing of investors such as the Verge Fund and Omphalos Venture Partners, a world-class Technical Advisory Board, a seasoned Board of Managers, a Chairman and CEO with fuel cell startup experience, and a CTO & President with deep industry experience, PPC is poised for success.

Management Team

Thomas J. Stephenson – CEO & Chairman

Prior to co-founding Pajarito Powder in the spring of 2012, Mr. Stephenson was a co-founder of the Verge Fund in 2003, and currently serves as Managing General Partner in addition to his responsibilities at PPC. Mr. Stephenson has worked with a number of companies in the energy industry, including current and past Verge portfolio companies Altela and Wellkeeper, and was previously on the Board of Directors of LabStart, a joint-venture entity created to assist in the commercialization of technologies from Los Alamos National Laboratory, one of the sources of technology for PPC. He previously served as a director and the lead investor for Mesofuel, a start-up company commercializing novel hydrogen reforming technologies for the fuel cell industry. Mr. Stephenson has a B.A. in Physics from Rice University and an M.B.A. from The University of Texas at Austin.

Dr. Barr Halevi – CTO & President

Prior to becoming the Chief Technology Officer and President of Pajarito Powder, Dr. Barr Halevi was a Research Assistant professor at the University of New Mexico and participated in the research and development of non-platinum group metal (“non-PGM”) catalysts. He is a named co-inventor on numerous UNM patent applications, presentations, and publications as well as being a participant of the DOE EERE program “Development of Novel Non Pt Group Metal Electrocatalysts for PEM Fuel Cell Applications.” He is an experienced materials scientist and developer of fuel-cell anode and other heterogeneous catalysts, with associated authorships of peer-reviewed publications, presentations, and patent applications.

Dr. Alexey Serov – Chief Scientist

Dr. Serov is the primary inventor of the formulations upon which PPC’s products are based, and is one of the world’s leading non-PGM catalyst researchers. As a Research Assistant Professor of Chemical and Nuclear Engineering at the University of New Mexico, he is a named inventor of 5 or the patents undelying PPC’s technology, as well as author or co-author of numerous associated peer-reviewed publications, with several relevant additional publications in progress.

Board of Managers

Thomas J. Stephenson – CEO & Chairman
Paul Short

Mr. Short holds BS and MS Electrical Engineering degrees from New Mexico State University, and held positions as an engineer with NMSU’s Physical Science Laboratory then as a principal engineer with Honeywell. He went on to found InnovASIC, a design services company that developed integrated circuits for other companies. He then successfully evolved the InnovASIC business model from a services firm to a semiconductor product company that designs, manufactures, and sells integrated circuits, growing the company to over $5 million in revenue during a period of industry contraction. He founded and ran Metaphor Computing, and was COO of Altela, a water treatment equipment manufacturer. There he lead the team that designed, manufactured, installed, and tested the next generation product and increased revenue from near zero to $1.6M in one year. Mr. Short was a co-founder of PPC, along with Mr. Stephenson, in the Spring of 2012.

Technical Advisory Board

Pajarito Powder has a world-class Technical Advisory Board that will help drive the company’s technology and product to be of the highest performance and durability while meeting the price and manufacturability targets required by industry.

Dr. Piotr Zelenay – Chairman (Currently on Leave of Absence)

Dr. Zelenay is a prominent expert in polymer electrolyte membrane fuel cells and Team Leader at Los Alamos National Laboratory (“LANL”). He has led the electrocatalysis and direct methanol fuel cell research at LANL for the past 12 years. With more than 100 research articles in renowned scientific journals, including electrocatalysis papers in Nature and Science, more than 270 presentations, 15 fuel cell patents and applications, 20 fuel cell and electrocatalysis research projects, Dr. Zelenay is recognized as a world leader in fuel cell technologies. One of his many recognitions was the DOE Hydrogen Program R&D Award In Recognition of Outstanding Contributions to Fuel Cell Technologies in June 2010.

Dr. Plamen Atanassov

Dr. Atanassov has over 25 years of experience in industry and academia focusing on materials processing and electrochemistry relating to fuel cells. He was a Director of the NSF Industry/University Collaborative Research Center and later founded the UNM Center for Emerging Energy Technologies. Prof. Atanassov’s research programs include development of non-platinum electrocatalyst for fuel cells, new materials and technologies for micro-power sources, enzymatic bio-fuel cells, sensor systems design and integration of micro-analytical systems.

Dr. Scott Calabrese Barton

Calabrese Barton is an Associate Professor of Chemical Engineering at Michigan State University. His research group studies new electrocatalysts, materials, and electrode design for fuel cells and chemical conversion. Transition metal electrocatalysts are studied for fuel cell and electrochemical conversion applications. Bioconversion involving enzyme electrocatalysts is also of interest as a means of producing value-added chemicals from renewable resources. To this end, catalysts are studied for regeneration of enzyme cofactors, and high-surface carbon materials are developed for immobilization of enzymes, catalysts, and cofactors. Throughout this work, mathematical models are incorporated to build understanding of electrochemical kinetics and transport, leading to tools for analysis and optimization of novel electrode architectures. He received his Ph.D. in Chemical Engineering from Columbia University in 1999, after studying aerospace engineering at Notre Dame and MIT. He is the recipient of a prestigious CAREER award from the National Science Foundation and a Petroleum Research Fund award from the American Chemical Society.

Dr. Sanjeev Mukerjee

Dr. Sanjeev Mukerjee is a full professor of physical/materials chemistry in the College of Science and Director of the Laboratory for Electrochemical Advanced Power (LEAP) at Northeastern University. The research activity in Dr. Mukerjee’s group is an interdisciplinary approach encompassing the areas of solid state chemistry, spectroscopy, and electrochemistry of electrode materials for electrochemical energy conversion and storage. The current focus is targeted towards technologies for proton exchange membrane (PEM) fuel cells and for batteries, these encompass electrocatalysis of oxygen reduction, CO tolerance and methanol oxidation reactions, elevated temperature polymer electrolyte membranes, advanced rechargeable batteries with nickel metal hydrides and lithium insertion electrodes for lithium ion and lithium polymer batteries. Dr. Mukerjee received his PhD from Texas A&M University and his M. Tech. from the Indian Institute of Technology, Kharagpur. He is the 2013 recipient of the NEU Excellence in Research and Creativity Award in 2013.


Omphalos Venture Partners, LLC

A Minneapolis, Minnesota based venture fund, founded and managed by successful entrepreneurs, that seeks investment opportunities in early stage companies developing disruptive technologies, and led by driven entrepreneurs with vision. Omphalos Venture Partners currently holds investment in Education, Medical Device, Health Services, Bio Sensor Technology, Nano Particle Technology, Environmental, Manufacturing, B2B and B2C. Click here to learn more about Omphalos Venture Partners.

Verge Fund

verge-logoVerge Fund is a highly motivated venture capital fund that invests in seed-stage, high-growth ventures. This partnership focuses on opportunities at the earliest stages of their development, even if the business plan hasn’t been fully built out. Click here to learn more about Verge Fund.



Contact us

Pajarito Powder

Phone: +1 (505) 293-5367
Fax: +1 (505) 244-8040


3600 Osuna Road NE, Suite 309/310
Albuquerque, NM 87109


Brochures and Corporate Data Sheets

PPC Corporate Brochure – March 2016

PPC Product Datasheet – April 2016 (English)

PPC 製品データシートの2016年3月

Media Resources

Image – Fuel Cell Stack – Where Pajarito Powder fits in

Technical Presentations and Publications

Presentation to 2016 Hannover Messe – April, 2016 (Dr. Alia Lubers) and slide presentation.

Presentation to 2016 Hannover Messe – April, 2016 (CEO Thomas J. Stephenson)

Presentation to 2015 Hannover Messe – April, 2015 (CTO Dr. Barr Halevi)

Presentation to 2014 FC Seminar, Los Angeles – November, 2014 (Dr. Alexey Serov)

Presentation to 2014 World of Energy Solutions, Stuttgart – October, 2014 (Dr. Barr Halevi)

Presentation to 2014 Electrochemical Society meeting, Cancun – October, 2014 (Nathaniel Leonard, MSU)

Presentation to Department of Energy Catalyst Working Group, 2014 Annual Merit Review – June, 2014 (Dr. Barr Halevi & Thomas Stephenson)

Other Links of Interest

Department of Energy Annual Merit Review

Fuel Cell and Hydrogen Energy Association

Fuel Cell Team – Los Alamos National Laboratory

Northeastern University Laboratory for Electro-chemical Advanced Power

Scott Calabrese Barton Research Group – Michigan State University

University of New Mexico Center for Energetic Materials

University of New Mexico for Micro-Engineered Materials