Peregrine Hydrogen

Peregrine Hydrogen is a Seattle-based climate technology company pioneering a dual co-production electrolyzer technology that simultaneously produces green hydrogen and valuable industrial chemicals such as sulfuric acid, using approximately 50% less energy than conventional electrolysis. Founded in 2023 by Stefan Omelchenko, Matthew Shaner, and Fridrik Lárusson—spun out of Bill Gates-backed research efforts—the company raised $7.8 million in seed financing in September 2023. Peregrine's approach generates revenue from both hydrogen and the valuable co-produced chemicals, making green hydrogen economically competitive without a premium over fossil-fuel alternatives. The company has signed a Letter of Intent with OCP Group, a major fertilizer producer, and is partnering with Tasmania Energy Metals to deploy its electrolyzer in an integrated nickel and iron production project.