Peregrine Hydrogen, a Santa Cruz, CA-based climate technology company, raised $7.8M in Seed funding.
The round was led by Bidra with participation from Builders, Gates Frontier, Presidio Ventures, RiSC Capital and Schox.
The company intends to use the funds to refine and scale-up their proprietary technology and expand into commodity chemical markets.
Led by CEO Friðrik Lárusson, and CTO Matt Shaner, Peregrine Hydrogen provides proprietary technology that co-produces clean hydrogen and valuable commodity chemicals. To start, the company will target fertilizer applications, which is responsible for feeding roughly 50% of humanity. Its technology decarbonizes the hydrogen for ammonia production, simplifies supply chains, and provides additional strategic advantages for fertilizer producers.
FinSMEs
25/09/2023