ITOCHU announces its investment in Raven SR Inc, a company for waste-to-renewable hydrogen and renewable fuels.
ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Keita Ishii, President & COO; hereinafter “ITOCHU”) announced investment in Raven SR Inc. (headquartered in Wyoming, the U.S.A.; Matt W. Murdock, CEO hereinafter “Raven”), a startup seeking to produce renewable hydrogen and renewable fuels from municipal solid waste (“MSW”), along with Chevron U.S.A. Inc.,1 Hyzon Motors Inc.,2 and Ascent Hydrogen Fund.*3
Raven developed its original combustion-free technology of gasification to produce synthetic gas of hydrogen and carbon monoxide. Their technology is expected to provide more efficient production of clean and inexpensive renewable hydrogen and renewable fuels from MSW, which is relatively difficult to handle as a raw material.
Raven will start to produce renewable hydrogen for mobility from MSW in California, where the carbon credit scheme is in place, and then expand the business to produce SAF4 and renewable diesel5 that can reduce GHG emissions in aviation and land transportation.
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ITOCHU has set “Enhancing our contribution to and engagement with the SDGs through business activities” in our medium-term management plan, “Brand-new Deal 2023”. As part of this plan, we started establishing a supply chain for SAF and renewable diesel in Japan. We will also contribute to the realization of a circulating low-carbon and sustainable society overseas through collaboration with Raven and its partners.
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ITOCHU Announces its Investment in Raven SR Inc., a Company for Waste-to-Renewable Hydrogen and Renewable Fuels, August 23, 2021
