Raven SR Inc., a renewable fuels firm, introduced the closing of a strategic funding from Samsung Ventures, increasing Raven SR’s attain into the worldwide market, particularly in Asia-Pacific area. Samsung Ventures’ strategic funding illustrates heightened demand for scalable renewable gasoline manufacturing to reply to local weather change issues. In 2021, Raven SR attracted funds totalling $20 million from international oil and gasoline main Chevron, Japanese buying and selling home ITOCHU, hydrogen mobility chief and innovator Hyzon Motors, and Ascent Hydrogen Fund.
Raven SR, which is able to quickly break floor in its first industrial waste-to-hydrogen manufacturing facility within the U.S., can produce inexperienced hydrogen and high-quality Fischer-Tropsch artificial fuels, resembling sustainable aviation gasoline, from a variety of feedstocks, together with municipal strong waste, methane and biomass. Raven SR’s non-combustion Steam/CO2Reforming course of is itself emissions-free and requires minimal waste sorting earlier than processing.
Samsung Ventures’ funding will develop Raven SR’s international attain to South Korea, a driving power within the hydrogen financial system. The South Korean authorities just lately introduced plans to offer 27.9 million metric tons of fresh hydrogen per 12 months by 2050, changing oil because the nation’s predominate power supply and reducing dependency on fossil fuels. “Our readily deployable breakthrough expertise is attracting robust backing from across the globe by main corporations which can be intent on making a distinction within the power transition right now,” stated Matt Murdock, CEO of Raven SR. “Samsung’s appreciation for our renewable fuels course of will step up our means to ship to new markets and supply a superb addition for worldwide renewable power initiatives.”
Samsung C&T, one of many world’s main engineering, procurement and building (EPC) corporations, will improve the scalability of Raven SR in Asian markets and past as Raven’s strategic enterprise associate. Raven SR’s expertise is designed to supply extra inexperienced hydrogen per ton of waste than competing processes. Raven SR’s course of may also produce different renewable power merchandise, resembling artificial liquid fuels (diesel, Jet A, mil-spec, JP-8), components and solvents (resembling acetone, butanol, and naphtha), electrical energy by way of microturbines, and sustainable aviation gasoline.