- Press Releases
August 18 (Renewables Now) - US waste-to-hydrogen outfit Raven SR Inc said Tuesday it has closed a strategic investment of USD 20 million (EUR 17m) from high-profile investors such as US oil group Chevron Corp (NYSE:CVX), through Chevron USA Inc, and Japanese trader Itochu Corporation (TYO:8001).
Hydrogen mobility company Hyzon Motors Inc (NASDAQ:HYZN) and Ascent Hydrogen Fund also took part in the investment round.
Raven SR's combustion-free, waste-to-hydrogen process converts organic waste into renewable hydrogen. The company says its technology can also produce synthetic fuels for commercial and passenger vehicles and for aviation.
Raven SR recently selected contractors to build its first production facilities, which will be located at landfills in Northern California and will supply local hydrogen fuel stations and Hyzon's hydrogen hubs.
Hyzon Motors chief executive Craig Knight described Raven SR's technology as efficient, scalable and mobile and said it addresses many of the logistics and financial challenges of green hydrogen production.
Raven and Hyzon Motors earlier this year agreed to partner on the construction of hydrogen production facilities across the US and globally.
(USD 1 = EUR 0.850)