Peregrine Turbine Technologies
Develops breakthrough sCO2 turbine technologies for power generation, storage, and clean energy applications.
Website: https://peregrineturbine.com/
Cover Block
PUBLIC
| Field | Value |
|---|---|
| Name | Peregrine Turbine Technologies |
| Tagline | Develops sCO2 turbine technologies for power generation, storage, and clean energy applications |
| Headquarters | Wiscasset, Maine, USA |
| Founded | 2012 |
| Stage | Seed |
| Business Model | B2B |
| Industry | Cleantech / Climatetech |
| Technology Type | Hardware |
| Geography | North America |
| Growth Profile | Venture Scale |
| Founding Team | Solo Founder |
| Funding Label | Seed |
| Most Recent Round | $880,000 unattributed, November 2025 [CBInsights] |
Links
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- Website: https://peregrineturbine.com/
- LinkedIn: https://www.linkedin.com/company/peregrine-turbine-technologies
- Crunchbase: https://www.crunchbase.com/organization/peregrine-turbine-technologies
- PitchBook: https://pitchbook.com/profiles/company/156218-23
Executive Summary
PUBLIC
Peregrine Turbine Technologies is a thirteen-year-old Maine engineering firm building supercritical CO2 (sCO2) Brayton-cycle turbines aimed at the established gas turbine market and at emerging clean-power use cases including biomass combined heat and power, geothermal, nuclear adjacent-plant heat recovery, and long-duration energy storage [Peregrine Turbine Technologies]. The company was founded in 2012 by David Stapp, a 35-year aerospace turbomachinery engineer who previously worked at GE Aircraft Engines and who continues to serve as both CEO and CTO [Peregrine Turbine Technologies]; [ZoomInfo]. Its core technical claim is the world's first start and run of an sCO2 Brayton-cycle turbine powered from phase-change thermal energy storage, a milestone announced via the company's LinkedIn page [LinkedIn]. Recent commercial signals include a collaboration with KMW Energy and Our Katahdin to field a 1 MWe biomass-fueled CHP demonstrator and a separate partnership with EXCEED GEO ENERGY to deploy sCO2 in geothermal applications [Peregrine Turbine Technologies, May 2024]. Disclosed external funding remains modest: a $1.5M loan reported by a Maine local paper to support R&D, plus an $880,000 unattributed round dated November 26, 2025 [Wiscasset Newspaper]; [CBInsights]. The company positions itself against an established $65 billion global gas turbine market segment, a figure sourced to Peregrine itself rather than a named third-party report [Peregrine Turbine Technologies]. Over the next 12 to 18 months, the most consequential signposts for investors are the fielding of the biomass CHP demonstrator referenced for 2025 in conference materials and any independent third-party validation of the phase-change thermal storage turbine claim [SCO2 Symposium, 2024]; [LinkedIn].
Data Accuracy: YELLOW -- Founding year and founder confirmed by PitchBook and Crunchbase; technology and traction claims rest predominantly on company-published material with limited independent press.
Taxonomy Snapshot
| Axis | Value | |---| | Stage | Seed | | Business Model | B2B | | Industry / Vertical | Cleantech / Climatetech, power generation hardware | | Technology Type | Hardware (sCO2 Brayton-cycle turbomachinery) | | Geography | North America (Wiscasset, Maine) | | Growth Profile | Venture Scale (capital-intensive hardware) | | Founding Team | Solo Founder (David Stapp) | | Funding | Seed; ~$880K most recent disclosed round (Nov 2025) plus a reported $1.5M loan |
Company Overview
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Peregrine Turbine Technologies, LLC was founded in 2012 in Wiscasset, Maine, by David Stapp, who is also the inventor of the Peregrine Engine and the president of an affiliated entity, Peregrine Consulting, Inc. [Peregrine Turbine Technologies]; [PitchBook]. The company is registered as a Maine limited liability company and has been profiled by the Maine Technology Institute, the state's quasi-public technology development arm, as a local hardware innovator focused on producing more power with a smaller carbon footprint [Maine Technology Institute].
The company's earliest public footprint is a Wiscasset Newspaper feature describing Stapp's turbine engine work and a subsequent local report on a $1.5 million loan secured for research and development in Wiscasset [Wiscasset Newspaper]. Peregrine has since published a sequence of milestones on its own channels: a first successful test run of its breakthrough sCO2 technology, the announcement of a long-duration energy storage solution, a novel sCO2 primary cycle for air-combustible fuels, and a series of partnership announcements [Peregrine Turbine Technologies]. In May 2024, Peregrine, KMW Energy, and the regional nonprofit Our Katahdin announced a collaboration to field what they describe as the world's first sCO2-enabled, biomass-fueled combined heat and power system [Peregrine Turbine Technologies, May 2024]. A separate collaboration with EXCEED GEO ENERGY targets sCO2 geothermal deployment [Peregrine Turbine Technologies].
Leadership additions have been incremental rather than headline-grabbing. Rear Admiral Larry LeGree, USN (ret.), joined the leadership team on September 3, 2024, signaling a push toward defense and federal energy adjacencies, although the specific scope of his role has not been disclosed in detail in publicly indexed material [Peregrine Turbine Technologies, 2024].
Data Accuracy: GREEN -- Founding year, location, and founder corroborated by Crunchbase, PitchBook, and Maine Technology Institute.
Product and Technology
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Peregrine's product line centers on supercritical CO2 Brayton-cycle turbines, a power-conversion architecture that uses CO2 above its critical point as the working fluid in place of steam or air. According to the company's own materials, its systems are configurable across heat sources including biomass, geothermal, nuclear adjacent-plant heat, and natural gas, and are pitched as a more compact and water-light alternative to conventional steam Rankine bottoming cycles [Peregrine Turbine Technologies]. For nuclear adjacent-plant applications, Peregrine argues that conventional steam turbines are large, water-intensive, and operationally expensive, and that sCO2 reduces footprint and infrastructure burden [Peregrine Turbine Technologies].
The most specific technical claim in the public record is the company's announcement, surfaced via LinkedIn, of "the world's first start and run of a sCO2 Brayton Cycle Turbine powered from phase change thermal energy storage," framed as enabling deeper renewable penetration through long-duration storage [LinkedIn]. A separate company release describes a 1 MWe sCO2 energy conversion system integrated with KMW biomass gasification for combined heat and power, with a demonstrator slated to be fielded in real-world applications in 2025 according to materials presented at the sCO2 Symposium [Wiscasset Newspaper]; [SCO2 Symposium, 2024]. Peregrine has also published a technical write-up of "A Novel sCO2 Primary Cycle for Air-Combustible Fuels," indicating in-house cycle design work beyond pure bottoming-cycle integration [Peregrine Turbine Technologies].
Independent third-party validation of test data, efficiency figures, or megawatt-hour ratings is limited in publicly indexed sources. The technology stack itself, turbomachinery design, structural and vibration analysis, and cycle modeling, is consistent with Stapp's described background in aerospace turbomachinery design at GE Aircraft Engines (inferred from founder background) [Peregrine Turbine Technologies]; [ZoomInfo]. No public roadmap of future product variants beyond the announced biomass CHP demonstrator and the geothermal collaboration has been released.
Data Accuracy: YELLOW -- Product descriptions and milestone claims are primarily company-published; the biomass CHP demonstrator timing is corroborated by the sCO2 Symposium reference and local press.
Market Research and Opportunity
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The sCO2 power-cycle category sits inside the much larger gas turbine and thermal power-conversion market, which is in the early stages of a decade-long replacement and decarbonization cycle. Peregrine frames its addressable opportunity as the "established $65Bn global gas turbine market segments," though that figure is sourced to the company itself and should be treated as a directional claim rather than an audited TAM [Peregrine Turbine Technologies]. Independent named reports give somewhat smaller but still material numbers: SkyQuest values the gas turbine market at USD 10.75 billion in 2024, growing to USD 15.43 billion by 2033 [Skyquestt], while Technavio estimates incremental growth of USD 2.65 billion between 2024 and 2028 [Technavio, 2025].
| Source | Metric | Value |
|---|---|---|
| Peregrine Turbine Technologies | Applicable global gas turbine market segments | $65B |
| SkyQuest | Gas turbine market 2024 | $10.75B |
| SkyQuest | Gas turbine market 2033 (projected) | $15.43B |
| Technavio | Incremental growth 2024-2028 | +$2.65B |
The gap between Peregrine's $65B framing and the SkyQuest/Technavio figures most likely reflects different scope boundaries (installed base and aftermarket versus new equipment sales). For valuation purposes, the more conservative third-party numbers are the safer anchor.
Demand drivers cited across these reports and adjacent industry coverage cluster around four themes: data-center power demand growth driving baseload and peaker investment, retirement of coal and aging steam plants, the search for higher-efficiency bottoming cycles for nuclear and industrial heat, and long-duration energy storage to firm intermittent renewables. Peregrine's product narrative, sCO2 cycles applied to biomass CHP, geothermal, nuclear adjacent-plant heat, and phase-change thermal storage, maps directly to the second, third, and fourth of those drivers [Peregrine Turbine Technologies]; [LinkedIn].
Adjacent and substitute markets temper the upside. Conventional steam Rankine and organic Rankine cycle (ORC) systems remain entrenched for waste-heat and biomass applications, and large gas turbine OEMs, GE Vernova, Siemens Energy, Mitsubishi Power, are pursuing their own sCO2 research alongside hydrogen-ready combined-cycle plants. Regulation is a meaningful tailwind: U.S. Department of Energy programs have funded sCO2 pilot work for over a decade, including the STEP demonstrator in San Antonio, and federal incentives under the Inflation Reduction Act for clean firm power create a more favorable buyer environment for novel cycles than existed when Peregrine was founded.
Data Accuracy: YELLOW -- Third-party market sizing from SkyQuest and Technavio is corroborated; Peregrine's own $65B figure is single-sourced and self-published.
Competitive Landscape
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Peregrine competes in a thin but credentialed field of sCO2-focused developers while sitting beneath a layer of large incumbent turbine OEMs that could enter or acquire at will.
| Company | Positioning | Stage / Funding | Notable Differentiator | Source |
|---|---|---|---|---|
| Peregrine Turbine Technologies | sCO2 Brayton-cycle turbines for biomass CHP, geothermal, nuclear adjacent-plant heat, and thermal storage | Seed; ~$880K disclosed Nov 2025 plus reported $1.5M loan | Claimed first sCO2 Brayton turbine run on phase-change thermal storage | [CBInsights]; [LinkedIn] |
| Echogen Power Systems | sCO2 heat-to-power and long-duration thermal energy storage | Privately held; multiple DOE awards historically | Longest commercial track record in sCO2 waste-heat recovery | [PUBLIC, industry-known] |
The competitive map breaks into three layers. At the incumbent layer, GE Vernova, Siemens Energy, Mitsubishi Power, and Pratt & Whitney sit on decades of installed base, service revenue, and balance-sheet capacity to fund their own sCO2 research; they are unlikely near-term direct competitors for a 1 MWe biomass demonstrator but they define the long-run cost curve any challenger must beat. At the substitute layer, organic Rankine cycle vendors (Ormat, Turboden, Exergy) are the incumbent solution for biomass CHP and low-temperature geothermal, and they will be the realistic head-to-head competitors for any Peregrine biomass deployment.
Where Peregrine has a defensible edge today, the evidence points to two areas. The first is application breadth across heat sources from a configurable cycle architecture, which lets the company pursue biomass, geothermal, nuclear adjacent-plant, and thermal storage from one platform rather than committing to a single end-market [Peregrine Turbine Technologies]. The second is the team's claimed cumulative experience across GE, Rolls-Royce, Pratt & Whitney, Sundstrand, and Solar Turbines, which is unusually deep for a seed-stage hardware company [One North]. The durability of both edges is conditional: configurability is only valuable once one application reaches commercial reference status, and senior engineering depth in a solo-founder structure concentrates execution risk.
Where Peregrine is most exposed is capital intensity and reference-customer scarcity relative to Echogen's longer field history, and the channel risk that large turbine OEMs own existing utility and industrial customer relationships. The most plausible 18-month scenario: winner if Peregrine fields the KMW biomass CHP demonstrator on the 2025 timeline cited at the sCO2 Symposium and produces independently witnessed performance data, which would convert the company from a research-stage developer into a referenceable vendor [SCO2 Symposium, 2024]; loser if the demonstrator slips materially while Echogen or an OEM-backed sCO2 program publishes a commercial reference first, in which case Peregrine's sub-$3M disclosed capitalization becomes a binding constraint on its ability to fund a second demonstrator.
Data Accuracy: YELLOW -- Subject row is sourced; competitor row reflects industry-known positioning rather than a structured-facts citation, and the broader OEM context is general industry knowledge.
Opportunity
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If Peregrine converts even one of its current collaborations into a referenceable commercial deployment, the prize is participation in the early commercialization phase of a power-conversion architecture that has been a research priority of the U.S. Department of Energy for more than a decade.
The headline opportunity. The single largest plausible outcome for Peregrine is becoming a specialist sCO2 power-block supplier for distributed clean-firm power: 1 to 10 MWe systems sold into biomass CHP, low-to-mid-temperature geothermal, and small modular reactor adjacent-plant heat recovery. The cited evidence that this is reachable rather than aspirational is concrete: a named biomass CHP collaboration with KMW Energy and Our Katahdin with a 2025 fielding target [Peregrine Turbine Technologies, May 2024]; [SCO2 Symposium, 2024], a separate geothermal collaboration with EXCEED GEO ENERGY [Peregrine Turbine Technologies], a published claim of a first-of-kind sCO2 turbine run on phase-change thermal storage [LinkedIn], and a senior team with cumulative turbomachinery experience at GE, Rolls-Royce, Pratt & Whitney, Sundstrand, and Solar Turbines [One North]. None of those are guarantees, but together they describe a credible path from research stage to first commercial reference.
Growth scenarios.
| Scenario | What happens | Catalyst | Why it's plausible |
|---|---|---|---|
| Biomass CHP reference win | The 1 MWe KMW demonstrator is fielded and produces witnessed performance data, opening repeat orders to regional biomass operators | Successful 2025 fielding of the KMW/Our Katahdin demonstrator [SCO2 Symposium, 2024] | The collaboration is already announced with a named industrial partner and a target year [Peregrine Turbine Technologies, May 2024] |
| Geothermal platform partnership | EXCEED GEO collaboration matures into a multi-site rollout for low-to-mid-temperature geothermal where ORC economics are weak | Independently witnessed efficiency data from the geothermal pilot [Peregrine Turbine Technologies] | sCO2 cycles are a recognized DOE research priority for geothermal heat-to-power |
| Defense / federal energy adjacency | Peregrine wins a DOE or DoD contract for distributed clean firm power on a federal site | Leadership addition of Rear Admiral Larry LeGree (Sept 2024) suggests federal channel build-out [Peregrine Turbine Technologies, 2024] | Federal programs have funded sCO2 pilots for over a decade and IRA-era clean firm power funding is active |
What compounding looks like. The flywheel for a hardware power-block company is reference customers. The first witnessed deployment converts the technology from "company claims" to "third-party operating data," which lowers the perceived risk for the second customer, which in turn lowers the cost of capital for the third project. Peregrine's configurable cycle architecture amplifies that flywheel: the same core power block, once proven on biomass, is more credible for geothermal and for nuclear adjacent-plant heat without rebuilding the engineering case from scratch [Peregrine Turbine Technologies]. The earliest public evidence the flywheel is starting is the layering of three named collaborations (KMW, Our Katahdin, EXCEED GEO) within roughly an 18-month window [Peregrine Turbine Technologies, May 2024]; [Peregrine Turbine Technologies].
The size of the win. A useful comparable is the broader gas turbine market, which independent third-party reports size at roughly $10.75 billion in 2024 growing to $15.43 billion by 2033 [Skyquestt], with Peregrine itself framing the applicable segments at $65 billion [Peregrine Turbine Technologies]. Distributed clean-firm power blocks in the 1 to 10 MWe range are a small fraction of that total, but even a low-single-digit-percent share of new equipment sales over a decade implies a multi-hundred-million-dollar annual revenue opportunity for whichever sCO2 specialist establishes the reference base first (scenario, not a forecast). For investors, the more relevant near-term comparable is Echogen Power Systems, the only named peer in this report, whose decade-plus development arc illustrates both the patience capital required and the durability of the category.
Data Accuracy: YELLOW -- Scenarios anchor on confirmed collaborations and named market reports; the size-of-the-win translation is explicitly labelled as scenario rather than forecast.
Sources
PUBLIC
[Peregrine Turbine Technologies] Peregrine Turbine Technologies | https://peregrineturbine.com/
[Peregrine Turbine Technologies] Global Markets | https://peregrineturbine.com/global-markets/
[Peregrine Turbine Technologies] EXCEED GEO ENERGY & Peregrine Turbine Technologies Announce Collaboration | https://peregrineturbine.com/exceed-geo-energy-and-ptt/
[Peregrine Turbine Technologies, May 2024] Updates & Industry News | https://www.peregrineturbine.com/updates-industry-news/
[Peregrine Turbine Technologies] PTT Nuclear Energy Systems | https://peregrineturbine.com/ptt-nuclear-energy-systems/
[Peregrine Turbine Technologies] Our Team | https://peregrineturbine.com/about/
[Peregrine Turbine Technologies] A Novel sCO2 Primary Cycle for Air-Combustible Fuels | https://peregrineturbine.com/a-novel-sco2-primary-cycle-for-air-combustible-fuels/
[Peregrine Turbine Technologies, 2024] Leadership announcement, Rear Admiral Larry LeGree | https://peregrineturbine.com/press-releases/
[LinkedIn] Peregrine Turbine Technologies company page | https://www.linkedin.com/company/peregrine-turbine-technologies
[PitchBook] Peregrine Turbine Technologies 2026 Company Profile | https://pitchbook.com/profiles/company/156218-23
[Crunchbase] Peregrine Turbine Technologies profile | https://www.crunchbase.com/organization/peregrine-turbine-technologies
[Crunchbase] David Stapp profile | https://www.crunchbase.com/person/david-stapp-8faf
[CBInsights] Peregrine Turbine Technologies Stock Price, Funding | https://www.cbinsights.com/company/peregrine-turbine-technologies/financials
[Maine Technology Institute] Peregrine Turbine Technologies, LLC innovator spotlight | https://www.mainetechnology.org/impact/innovator-spotlight/peregrine-turbine-technologies/
[Wiscasset Newspaper] Peregrine Turbine Technologies lands $1.5M loan for R&D in Wiscasset | https://www.wiscassetnewspaper.com/article/peregrine-turbine-technologies-lands-15m-loan-r-d-wiscasset/267566
[Wiscasset Newspaper] A man and his turbine engine | https://www.wiscassetnewspaper.com/article/man-and-his-turbine-engine/76626
[Skyquestt] Gas Turbine Market size analysis | https://www.skyquestt.com/
[Technavio, 2025] Global gas turbine market growth 2024-2028 | https://www.technavio.com/
[SCO2 Symposium, 2024] Biomass-fired sCO2 demonstrator presentation | https://sco2symposium.com/
[ZoomInfo] David Stapp profile, prior role at GE Aircraft Engines | https://www.zoominfo.com/
[One North] Peregrine Turbine Technologies leadership team summary | https://www.onenorth.com/
Articles about Peregrine Turbine Technologies
- Peregrine Turbine Is Betting a Maine Workshop Can Out-Engineer the Steam Cycle — A 13-year-old supercritical CO2 outfit lines up its first biomass-fired demonstrator and a fresh $880K round.