Peregrine Hydrogen Signs LOI with OCP Group for Scale-Up Funding and Offtake
MOUNTAIN VIEW, Calif.–(BUSINESS WIRE)–Peregrine Hydrogen today announced it has signed a Letter of Intent (LOI) with OCP Group, the world leader in plant nutrition solutions and phosphate-based fertilizers, to secure scale-up funding and offtake for its hydrogen technology.
Our partnership with OCP Group is a critical step toward deploying this technology at scale and accelerating decarbonization in cost-sensitive sectors.
Peregrine is developing a novel electrolyzer 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.
Matt Shaner, CTO of Peregrine Hydrogen, said:
Peregrine’s approach can deliver clean hydrogen at a significantly lower cost than existing methods,
“Our partnership with OCP Group is a critical step toward deploying this technology at scale and accelerating decarbonization 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, CEO, Friðrik Lárusson, says:
Peregrine’s co-production technology makes economic sense in a plethora of industries outside of fertilizer
“We’re excited to share what we’re working on in the metals, oil, and natural gas industries. Stay tuned.”
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Peregrine Hydrogen Signs LOI with OCP Group for Scale-Up Funding and Offtake, source
