Peregrine Hydrogen

Peregrine Hydrogen, a spin-out from Orca Sciences’ climate technology incubator, is developing electrolyzer technology to produce clean hydrogen at cost parity with steam methane reforming (SMR).

Peregrine Hydrogen’s novel dual production technology leverages the chemical properties of the feedstock to reduce the energy required to produce clean hydrogen, while simultaneously producing the industrial chemicals needed by its customers.

According to the company, its technology emits zero greenhouse gases and requires 50% less energy than water electrolysis.

Funding and financials

In October 2023, the company raised USD 7.8 million in seed funding led by lead investor Bidra, with participation from Builders, Gates Frontier, Presidio Ventures, RiSC Capital, and Schox. The funds were used for technical refinement and the scaling of the technology, additional hiring, and expansion into the commodity chemical market.