http://subtleatomics.com/electrode-transmutations
They say:
Experiments
Method: Elecrodes from high current, low voltage pulse discharge reactions through H2O were analysed visually and by XRF analysis. Post reaction elemental compostion of electrode tip reaction zone was compared to the elemental composition of the unreacted bolt heads.
Observations: Visual observations showed significant changes in some electrode metal surface types from reactions. XRF analysis indicates changes in elemental compositon for some electrode types.
Conclusion: Changes in elemental compostion indicate that low energy nuclear reactions can occur during high current, low voltage, pulse discharge reactions, when specific catalyst electrodes are used.
they have beautiful pictures, and bad science.
Specifically, they have done XPS elemental analyses of electrodes before and after H2O electrolysis, and find changes in composition.
Most strangely, they attribute these changes to nuclear transmutation on zero evidence. You would expect elemental changes in these experiments due to elements migrating to/from the electrolyte, and also elements moving to/from the surface. XPS, analysing only the surface, is peculiarly sensitive to surface changes and thus is inherently unlikely to provide evidence for transmutation if all that is seen is elemental change rather than significant isotopic shifts. A large increase in some element known not to be present in either electrode or electrolyte might do it - but at low levels, and given that the XPS data requires only a very small quantity of material, that is very difficult to ensure. But the fact that isotope ratios stay constant is a big red flag against transmutation which would not normally keep to natural isotope ratios.
It is difficult to say more because they appear not to have documented these results: perhaps a scientific paper will be forthcoming - although given the web claims they make the word scientific is probably a misnomer.
Any LENR researcher ought to be concerned about this stuff which is pseudo-science (very publicly) asking for money from investors, and claiming to be LENR research. The rossi effect? (I don't mean these guys are dishonest, but they seem to be jumping on a gravy train asking for money based on no significant results).