Peregrine Hydrogen develops a proprietary electrolyzer-based co-production technology that produces clean hydrogen together with valuable industrial chemicals. The company says this approach can reach cost parity with steam methane reforming by producing hydrogen alongside higher-value chemical streams. Peregrine spun out of the climate technology incubator Orca Sciences in June 2023 and is operating from Santa Cruz/California while growing its technical team in the state. It plans to target fertilizer applications initially and then expand into broader commodity chemical markets. The company will use an oversubscribed $7.8M seed financing to refine and scale up its technology and to support technical development and hiring of chemical and process engineers. Investors include Bidra, Builders, Gates Frontier, Presidio Ventures, RiSC Capital and Schox.

Total raised

$8M

Funding rounds

1

Latest round

Seed

Latest activity

Sep 2023