Multi-asset investment firm RockCreek has closed an investment in Raven SR Inc., a company that produces renewable transportation fuels from a variety of feedstocks, including waste streams, using a proprietary non-combustion process.
Raven SR will use RockCreek’s investment to further commercialize low- to negative-carbon-intensity hydrogen and sustainable aviation fuel. The investment comes on the heels of last month’s announcement that Raven SR’s Richmond, Calif., project is the first-ever biomass-to-renewable hydrogen project permitted in the state of California.
Renewable hydrogen from this project will be commercially available in the Bay Area beginning in 2024 through agreements with Chevron New Energies and Hyzon Motors.
“Raven SR is pioneering innovative ways to produce renewable transportation fuels that will play an instrumental role in decarbonizing the aviation and transportation industries,” says Justin Heyman, managing director of RockCreek. “Their products have an attractive environmental footprint and are cost-competitive with traditional fuels. This offers industries smart options to both manage fuel costs and achieve abatement goals.”
The Raven SR technology is a non-combustion thermal, chemical reductive process that converts organic waste and landfill gas to hydrogen and Fischer-Tropsch synthetic fuels. Unlike other hydrogen production technologies, it does not require fresh water as a feedstock and uses less than half the energy of electrolysis, the company says.