In this experimental work polymer electrolyte membrane fuel cell (PEMFC) electrodes are analysed, which are prepared by the use of two sorts of carbon nano fibres (CNF) serving as support material for platinum nano particles. Those CNFs, which are heat treated subsequently to their production, have a higher graphitisation degree than fibres as produced. The improved graphitisation degree leads to higher electrical conductivity, which is favourably for the use in PEMFC electrodes. Samples have been analysed, in order to determine graphitisation degree, electrical conductivity, as well as morphology and loading of the prepared electro catalyst. Membrane electrode assemblies manufactured from prepared electrodes are analysed in-situ in a PEM fuel cell test environment. It has been determined that power output for samples containing CNFs with higher graphitisation degree is increased by about 13.5 %.