An electrode for the oxygen evolution reaction based on a conductive bi-layered free standing graphene support functionalized with iridium nanoparticles was fabricated and characterized by means of potentiometric and advanced X-ray spectroscopic techniques. It was found that the electrocatalytic activity of iridium nanoparticles is associated to the formation of Ir 5d electron holes. Strong Ir 5d and O 2p hybridization, however, leads to a concomitant increase O 2p hole character, making oxygen electron deficient and susceptible to nucleophilic attack by water. Consequently, more efficient electrocatalysts can be synthesized by increasing the number of electron-holes shared between the metal d and oxygen 2p.
