Peregrine Hydrogen has signed a Letter of Intent (LOI) with OCP Group, a plant nutrition solutions and phosphate-based fertilizers company, to secure scale-up funding and offtake for its H₂ technology.

Peregrine is developing a novel electrolyzer technology that co-produces clean H₂ 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 H₂ 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,” said Peregrine, CEO, Friðrik Lárusson. “We’re excited to share what we’re working on in the metals, oil, and natural gas industries. Stay tuned.”