Chevron Makes Strategic Investment in Waste-to-green Hydrogen Fuels Company
Chevron, Japan-based ITOCHU, hydrogen mobility leader Hyzon Motors Inc., and Ascent Hydrogen Fund have closed a $ 20 million strategic investment in Raven SR Inc., a renewable fuels company that produces hydrogen fuel and high-quality synthetic fuels such as sustainable aviation fuel. Raven SR plans to build modular waste-to-green hydrogen production units and renewable synthetic fuel facilities initially in California and then worldwide, the company announced Aug. 17.
Raven SR's technology makes it one of the only combustion-free, waste-to-hydrogen producers in the world. Unlike alternative approaches to waste disposal, such as incineration or gasification, 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.
Raven SR's process can also produce other renewable energy products such as synthetic liquid fuels, additives and solvents (such as acetone, butanol, and naphtha) and electricity via microturbines. Also, Raven SR's technology can produce sustainable aviation fuel, an increasingly important component of the global aviation industry's decarbonization efforts to align with targets outlined in the 2016 Paris Agreement on climate change.
The strategic investment comes after Raven and Hyzon Motors agreed to build up to 250 hydrogen production facilities across the United States and globally.
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. Raven SR's units are modular and scalable and can easily be expanded to accommodate sites with higher hydrogen requirements. In addition to landfills, the production units can also be placed at wastewater treatment plants and agriculture sites.
Aug. 25, 2021