Peregrine Hydrogen Signs LOI With OCP Group for Scale-Up Funding and Offtake

MOUNTAIN VIEW, Calif.--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.

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“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 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’s co-production technology makes economic sense in a plethora of industries outside of fertilizer,” says Friðrik Lárusson, CEO of Peregrine Hydrogen. “We’re excited to share what we’re working on in the metals, oil, and natural gas industries. Stay tuned.”

To find out more, visit www.peregrinehydrogen.com

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 Friðrik Lárusson 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.

About OCP Group

OCP is a global leader in the fertilizer industry, backed by almost a century’s production history. OCP has exclusive access to the largest phosphate rock reserve base in the world. It is one of the lowest cost producers of phosphate rock in the industry and has become a leading player in production and trade volumes across the phosphate value chain. OCP employs 21,000 people and contributes to regional development through its mining and fertilizer operations, and through its sustainability program.

For more information visit: www.ocpgroup.ma