Monday 21 March 2022
Samsung Ventures invests in waste-to-hydrogen start-up Raven
Samsung Ventures has invested an undisclosed amount in US waste-to-hydrogen start-up Raven SR.
The Wyoming-based renewable fuels company is gearing up to start the construction of its first commercial waste-to-hydrogen production facility in the US.
The facility will produce green hydrogen and synthetic fuels, such as sustainable aviation fuel (SAF), from a wide range of feedstocks including municipal solid waste, methane and biomass.
Raven's non-combustion reforming process is emissions free and requires minimal waste sorting before processing.
The investment from Samsung Ventures will expand the start-up's global reach to South Korea, supporting the government's recently announced plans to provide 27.9 million metric tons of clean hydrogen per year by 2050.
It follows funding worth a total of $20 million (£15m) last year from global oil and gas firm Chevron, Japanese trading house ITOCHU, hydrogen firm Hyzon Motors and Ascent Hydrogen Fund.
Matt Murdock, CEO of Raven SR said: “Our readily deployable breakthrough technology is attracting strong backing from around the globe by major companies that are intent on making a difference in the energy transition today.
“Samsung’s appreciation for our renewable fuels process will step up our ability to deliver to new markets and provide an excellent addition for worldwide renewable energy projects.”
