Raven SR Inc., a renewable fuels company, has closed a $20 million strategic investment from Chevron U.S.A. Inc., ITOCHU Corp., Hyzon Motors Inc. and Ascent Hydrogen Fund. Raven SR plans to build modular waste-to-green hydrogen production units and renewable synthetic fuel facilities initially in California and then worldwide.
Raven SR’s Steam/CO2 Reformation process involves no combustion. Raven SR’s process is designed to reduce emissions and produce more green hydrogen per ton of waste than competing processes. The process can also produce other renewable energy products such as synthetic liquid fuels (diesel, Jet A, mil-spec JP-8), additives and solvents (such as acetone, butanol, and naphtha) and electricity via microturbines. Also, Raven SR’s technology can produce sustainable aviation fuel.
The strategic investment comes after Raven and Hyzon Motors agreed to build up to 250 hydrogen production facilities across the U.S. and globally. Hyzon Motors, with U.S. operations based in Rochester, N.Y., is a global supplier of zero-emission hydrogen fuel cell-powered commercial vehicles.
Raven SR’s first renewable fuel production facilities will be built at landfills and will produce fuel for Northern California hydrogen fuel stations and for Hyzon’s hydrogen hubs. These initial facilities are expected to process approximately 200 tons of organic waste daily, yielding green hydrogen and producing on-site energy to be as autonomous as possible.
“We are grateful for our investors’ recognition of Raven SR’s technology which transforms organic waste into renewable hydrogen and synthetic fuels for commercial and passenger vehicles and airplanes,” states Matt Murdock, CEO of Raven SR. “We’re excited to start working with our partners on realizing our global vision of zero-emission transportation, on land and in the skies, through locally sourced and produced renewable fuels, while reducing waste in our landfills and their accompanying emissions.”
“Raven SR’s technology is highly efficient, scalable and mobile, solving many of the logistics and financial challenges of green hydrogen production,” says Hyzon Motors CEO Craig Knight. “With their partnership, we expect to reach our vision of 1,000 green hydrogen hubs, which will enable thousands of Hyzon hydrogen fuel cell-powered trucks to operate on US roads in the near future – at costs comparable to diesel-powered vehicles.”