RockCreek Backs Raven's Renewable Fuels

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by KnowESG
KnowESG_RockCreek invests in SAF producer Raven
Image courtesy of Freepik

RockCreek, a prominent global multi-asset firm specialising in energy transition investments, has successfully concluded its investment in Raven SR, Inc., a company at the forefront of producing high-value renewable transportation fuels from diverse feedstocks, including waste streams.

With support from RockCreek's investment, Raven SR aims to further advance the commercialisation of low-to-negative carbon intensity hydrogen and sustainable aviation fuel (SAF).

Notably, Raven SR's Richmond, California project recently made history as the first-ever biomass-to-renewable hydrogen project to receive approval in the state.

Starting from 2024, renewable hydrogen from this project will be made available for commercial use in the Bay Area, thanks to agreements with Chevron New Energies and Hyzon Motors. Additionally, by 2025, the same technology will be adapted to facilitate the commercial production of sustainable aviation fuel.

RockCreek's investment in Raven SR is part of its Smart Aviation Futures fund, which focuses on investing in high-growth companies that contribute to and benefit from the aviation industry's decarbonisation efforts.

Both sustainable aviation fuel and hydrogen are crucial elements in achieving this goal, and the Smart Aviation Futures fund aligns with the emerging opportunities driven by policies such as the U.S. Inflation Reduction Act. The fund aims to invest in companies that share corporate and consumer preference for reducing environmental footprints.

The growing demand for sustainable aviation fuel and renewable hydrogen, combined with supportive public policies, is driving increased investment in this sector, leading to the development of projects worldwide.

Justin Heyman, managing director at RockCreek, expressed confidence in Raven SR's innovative approach to producing renewable transportation fuels. He highlighted that these products offer attractive environmental benefits and cost competitiveness compared to traditional fuels, presenting industries with intelligent choices for managing fuel costs and achieving emission reduction targets.

Matt Murdock, CEO of Raven SR, acknowledged RockCreek's investment as a vote of confidence from the investing community in their Steam/CO2 Reforming technology. This pioneering technology is expected to significantly reduce carbon emissions by producing carbon-neutral and carbon-negative fuels. As the demand for sustainable aviation fuel and renewable hydrogen continues to surge, RockCreek's support will play a pivotal role in advancing the global expansion of Raven SR's business model.

Raven SR's technology stands out due to its non-combustion thermal, chemical reductive process that converts organic waste and landfill gas into hydrogen and Fischer-Tropsch synthetic fuels.

A distinguishing feature of its Steam/CO2 Reformation process is its independence from freshwater as a feedstock and its energy efficiency, using less than half the energy required by electrolysis.

The result is a highly efficient method of hydrogen production that delivers fuel with low to negative carbon intensity. Moreover, Raven SR aims to generate a significant portion of its power on-site to reduce reliance on the grid, showcasing a commitment to sustainability. The modular design of the technology allows for scalable local production of renewable hydrogen and synthetic liquid fuels using local waste materials.

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Source: RockCreek 

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