Samsung Ventures invests in waste-to-hydrogen firm Raven SR
Plastic waste. Source: Neste
March 14 (Renewables Now) - US renewable fuels company Raven SR Inc said on Monday it has closed a strategic investment of an undisclosed size from Samsung Ventures on the path to expanding its global footprint into the Asia-Pacific market.
The Wyoming-based firm is getting ready to begin the construction of its first commercial waste-to-hydrogen production facility in the US. It will be able to produce green hydrogen and Fischer-Tropsch synthetic fuels, including sustainable aviation fuel, from various feedstocks such as municipal solid waste, methane and biomass. The company claims that its non-combustion Steam/CO2 Reforming process is itself emissions-free and requires minimal waste sorting before processing.
Raven SR noted that the fresh investment from Samsung Ventures will expand its global reach to South Korea, the government of which recently set a goal to provide 27.9 million tonnes of clean hydrogen per year by 2050.
Last summer, Raven SR announced the closing of an investment round totalling USD 20 million (EUR 18.3m) with participation from oil and gas major Chevron Corp, Japanese trader Itochu Corp, hydrogen mobility company Hyzon Motors Inc and Ascent Hydrogen Fund.