Here's what I found.
Apparently platinum is not the only material Fuel cells can be made from. According to
Wikipedia | Fuel Cell, nano iron powder can also be used and is highly efficient.
"It is produced by first refining the iron until it is exceptionally pure. Next it is wound into wire. This wire is then exposed to an electric explosion, separating the iron molecules. What results is an iron powder that must be measured at the nanoscale.[1]"
It seems, to produce the nano iron powder is extremely labor intensive, tho.
More:
UH Cullen College of Engineering | Finds alternative to Platinum
September 21, 2007
California Institute of Technology use Barium, Strontium, Cobalt, Iron and Oxygen as catalyst in Fuel Cells.
Also on the horizon is the company I've already mentioned before,
Blacklight Power, which bypasses Fuel cells altogether. Seems this company has major players on their board of directors.