Raven SR, a renewable fuels company, announced today key board additions and an executive promotion, coupled with securing $15 million in new investments, positioning the company for further growth and innovation in the clean energy sector.

Ascent Funds, a venture capital fund dedicated to advancing the energy transition, led the latest $15 million investment, with contributions from existing investors Chevron New Energies, ITOCHU Corp. and Stellar J Corp., the engineering, procurement and construction company managing construction of Raven SR's hydrogen project in Richmond, California.

Raven SR is a renewable fuels company whose proprietary Steam/CO2 Reforming process converts waste materials, solid and gaseous, into hydrogen and Fischer-Tropsch synthetic fuels, including sustainable aviation fuel (SAF) and renewable diesel, with low to negative carbon intensity. Its non-combustion process reliably produces hydrogen-rich syngas regardless of the feedstock utilized. The Raven SR process does not use fresh water and is more efficient than both conventional hydrogen production and electrolysis. Raven SR's modular and scalable design allows emissions-free renewable fuels to be produced locally using local waste, and reduces greenhouse gas emissions, achieving a low-carbon economy.