We report the development of a facile recycling process for catalyst coated membranes (CCMs) used in polymer electrolyte membrane (PEM) water electrolyzers. After performance evaluation in an assembled electrolysis cell, ultrasonication is used to provide high-yield recovery of not only the noble-metal catalyst materials, but also of the fluoropolymer membrane itself, without the release of hazardous gases. Transmission electron microscopy (TEM) and electrochemical characterization are used to confirm the retention of catalyst particle size, and of the performance of the recycled CCMs. Furthermore, our projections indicate that, if this approach is widely employed, existing resources of noble metals will prove sufficient for the gigawatt-scale implementation of PEM water electrolyzers. This has profound implications for the achievement of current targets for reducing the consumption of precious metals for applications in electrolyzers, fuel cells and other energy storage devices. (C) 2018 Hydrogen Energy Publications LLC. Published by Elsevier Ltd. All rights reserved.