Peregrine Hydrogen and Tasmania Energy Metals Sign LOI for Nickel Processing Plant in Bell Bay

MOUNTAIN VIEW, Calif. & BEACONSFIELD, Tasmania – Peregrine Hydrogen and Tasmania Energy Metals ("Tasmetals") today announced they have signed a Letter of Intent (LOI) to co-locate Peregrine’s proprietary electrolyzer technology at the nickel processing facility Tasmetals is developing in Bell Bay, Tasmania.

“Peregrine’s technology is a perfect fit for the integrated mineral processing model we are developing for Bell Bay.”

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Peregrine is developing a novel electrolyzer technology that co-produces clean hydrogen and sulfuric acid. For Tasmetals, this dual production method offers a critical strategic advantage: it provides a cost-effective, onsite supply of the sulfuric acid required for nickel processing, while simultaneously generating clean hydrogen for the production of green iron and other local industrial uses. This integration enhances overall sustainability by creating a more circular, resource-efficient value chain.

“Our partnership with Tasmetals demonstrates the power of our dual-product technology to unlock value in hard-to-abate sectors,” said Friðrik Lárusson, CEO of Peregrine Hydrogen. “By turning a necessary input for nickel processing into a source of clean hydrogen, we aren’t just decarbonizing one process—we are enabling the decarbonization of the broader regional economy, from battery metals to iron.”

The collaboration underscores the unique economic benefits of Peregrine's approach. While traditional green hydrogen production often faces high costs, Peregrine’s ability to monetize the co-produced sulfuric acid allows for the delivery of clean hydrogen at cost-competitive rates, facilitating the development of a circular industrial ecosystem in Bell Bay. The plant would utilize ore from Tasmania Energy Metals’ Barnes Hill project that contains critical battery metals—nickel, cobalt and manganese—as well as magnetite iron ore.

“Peregrine’s technology is a perfect fit for the integrated mineral processing model we are developing for Bell Bay,” said Pierre Richard, CEO of Tasmania Energy Metals. “Securing a reliable, local supply of sulfuric acid reduces our operating costs significantly, while the ability to utilize the co-produced hydrogen for green iron production maximizes resource value.”

About Peregrine Hydrogen

Peregrine Hydrogen’s proprietary technology co-produces the world’s lowest cost clean hydrogen and valuable sulfuric acid. While at Orca Sciences, co-founders Matt Shaner, Stefan Omelchenko, Ian McKay, and Fridrik Larusson conceived the vision for producing cost-effective, clean hydrogen for hard to abate industries, by leveraging thermodynamically advantaged chemistries. Peregrine Hydrogen is backed by top investors – including Bidra, Builders, Gates Frontier, Presidio Ventures, RiSC Capital, and Schox.Website: www.peregrinehydrogen.com

About Tasmania Energy Metals

Tasmania Energy Metals is an Australian minerals development company focused on advancing critical metals and battery materials projects. Anchored by its flagship Barnes Hill project in northern Tasmania, the company’s strategy is to develop integrated, low-carbon processing routes for nickel and associated metals to support Australia’s clean energy and advanced manufacturing ambitions.Website: www.tasmetals.com.au