Abstract: The present invention relates to a catalytically active material, comprising atomically dispersed metal species on the surface of a carbon material, wherein the atomically dispersed metal species are dispersed in an ionic liquid, and wherein the surface of the carbon material comprises carbon atoms having sp2 hybridization; ink for coating electrodes comprising the catalytically active material; an electrode coated with the catalytically active material; an electrolyzer comprising an electrode coated with the catalytically active material; use of the catalytically active material, the electrode, or the electrolyzer for oxidation, the reduction of oxygen, or the electrochemical oxidation of water; and a process for making the catalytically active material comprising the steps of atomically dispersing a metal species in an ionic liquid to form a first composition, and mixing the first composition with a carbon material having carbon atoms with sp2 hybridization on the surface.