RockCreek invests in Raven SR

RockCreek, a $15bn investment firm, has invested in Raven SR.

Raven SR is currently raising a Series C funding round. Raven SR received approval to build its first organic waste-to-hydrogen bioenergy project last month. The project will be in Richmond, California.

“Raven SR is pioneering innovative ways to produce renewable transportation fuels that will play an instrumental role in decarbonizing the aviation and transportation industries,” said Justin Heyman, managing director, 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.”

RockCreek made the investment through its Smart Aviation Futures Fund which it runs with a major US airline.

“RockCreek’s investment in Raven SR signals the investing community’s confidence that our patented Steam/CO2 Reforming technology will have a significant impact on reducing carbon emissions through the production of carbon-neutral and carbon-negative fuels,” said Matt Murdock, CEO, Raven SR. “With the demand for sustainable aviation fuel and renewable hydrogen rapidly on the rise, RockCreek’s support will play a vital role in advancing the development and expansion of our global business model.”

Raven SR’s investors include: Chevron New Energies; Hyzon Motors; ITOCHU; Ascent Hydrogen Fund; Samsung Ventures; Stellar J; and RockCreek.

It uses a chemical reductive process to turn organic waste and landfill gas into hydrogen and Fischer-Tropsch synthetic fuels. It does not burn the waste or need fresh water as a feedstock. It says that this is more efficient that traditional fuel production. Raven SR, which is based in Wyoming, plans to generate as much of its own power as possible when making SAF.