Green hydrogen is one of the most promising solutions for the decarbonisation of society. Alkaline water electrolysis (AWE) is already a mature technology but its large footprint makes it inadequate for producing the energy vector at GW scale. Proton exchange membrane water electrolysis (PEMWE) on the other hand is compact but its dependence on iridium and other expensive materials poses a serious threat for up-scaling. Anion exchange membrane water electrolysis (AEMWE) combines the benefits of both technologies. However, its key performance indicators (KPI) do not reach commercial requirements and are lacking competitiveness. NEWELY project aims to redefine AEMWE, surpassing the current state of AWE and bringing it one step closer to PEMWE in terms of efficiency but at lower cost. The three main technical challenges of AEMWE: membrane, electrodes and stack are addressed by 3 small-medium-enterprises (SME) with their successful markets related to each of these topics. They are supported by a group of 7 renown