• Strategic partnership with Samsung C&T, one of Korea’s largest construction firms, marks fifth strategic investor in renewable fuels company Raven SR
• Raven expands global footprint into Asia-Pacific market, a growing force in the hydrogen economy
PINEDALE, Wyoming – Mar. 14, 2022 – Raven SR Inc. (Raven SR), a renewable fuels company, announced today the closing of a strategic investment from Samsung Ventures, expanding Raven SR’s reach into the global market, especially in Asia-Pacific region.
Samsung Ventures’ strategic investment illustrates heightened demand for scalable renewable fuel production to respond to climate change concerns.
In 2021, Raven SR attracted funds totalling $20 million from global oil and gas major Chevron, Japanese trading house ITOCHU, hydrogen mobility leader and innovator Hyzon Motors, and Ascent Hydrogen Fund.
Raven SR, which will soon break ground in its first commercial waste-to-hydrogen production facility in the U.S., can produce green hydrogen and high-quality Fischer-Tropsch synthetic fuels, such as sustainable aviation fuel, from a wide range of feedstocks, including municipal solid waste, methane and biomass. Raven SR’s non-combustion Steam/CO2 Reforming process is itself emissions-free and requires minimal waste sorting before processing.
Samsung Ventures’ investment will expand Raven SR’s global reach to South Korea, a driving force in the hydrogen economy. The South Korean government recently announced plans to provide 27.9 million metric tons of clean hydrogen per year by 2050, replacing oil as the country’s predominate energy source and decreasing dependency on fossil fuels.
“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,” said Matt Murdock, CEO of Raven SR.
“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.”
Samsung C&T, one of the world’s leading engineering, procurement, construction and (EPC) companies, will enhance the scalability of Raven SR in Asian markets and beyond as Raven’s strategic business partner.
Raven SR’s technology is designed to 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 (diesel, Jet A, mil-spec, JP-8), additives and solvents (such as acetone, butanol, and naphtha), electricity via microturbines, and sustainable aviation fuel.
About Raven SR
Raven SR, headquartered in Wyoming, transforms biomass, mixed municipal solid waste, bio-solids, sewage, medical waste, and natural or biogas into renewable fuels.
Using its proprietary, non-combustion, non-catalytic Steam/CO2 Reformation technology, Raven SR dependably produces a hydrogen-rich syngas regardless of feedstock utilized. Raven SR, led by co-founders Matt Murdock and Matt Scanlon, is committed to adding value to local resources and communities while responsibly reducing greenhouse gases and achieving a low carbon economy. By using modular systems and producing low air emissions, their systems can be located closer to customers and feedstock, creating local fuel from local waste for local mobility. Visit the Raven website here.
About Samsung Ventures
Samsung Venture Investment Corporation was established to promote promising small and medium-sized companies engaging in the development of new technologies. Our collaboration is based on managerial know-how and trust, and actively investing in future-oriented businesses based on new and innovative technologies that are expected serve as new growth engines. Please visit the website for more in detail.
About Samsung C&T
Samsung C&T is an international corporation with four business groups: Engineering & Construction, Trading & Investment, Fashion, and Resort. Together, they provide services and products in over 50 countries. Find out more about Samsung C&T here.