Peregrine Hydrogen has announced that it has signed a letter of intent (LoI) with OCP Group, a company which specialises in plant nutrition solutions and phosphate-based fertilizers, to secure scale-up funding and offtake for its hydrogen technology.
Peregrine is developing a novel electrolyser technology that co-produces clean hydrogen and sulfuric acid. In commodity industries, such as fertilizer, cost competitiveness is key and has hampered adoption of green technologies. Peregrine’s dual production method is set to change that.
“Peregrine’s approach can deliver clean hydrogen at a significantly lower cost than existing methods,” said Matt Shaner, CTO of Peregrine Hydrogen. “Our partnership with OCP Group is a critical step toward deploying this technology at scale and accelerating decarbonisation in cost-sensitive sectors.”
While Peregrine’s near-term focus is on the fertilizer industry, the company has plans to expand to other industries. “Peregrine’s co-production technology makes economic sense in a plethora of industries outside of fertilizer,” says Peregrine, CEO, Friðrik Lárusson. “We are excited to share what we’re working on in the metals, oil, and natural gas industries. Stay tuned.”