- Funding will support an organic waste-to-hydrogen production
facility in Zaragoza, Spain.
- Project will contribute to the ambitious "Hydrogen Roadmap"
launched by the Ministry of Ecological Transition and Demographic
Challenge
PINEDALE, Wyo., July 16,
2024 /PRNewswire/ -- Raven SR (RAVEN) announced today
it was awarded a €1,441,862.95 grant from Ministry for Ecological
Transition and Demographic Challenge (MITECO). The funding is
managed by the Institute for the Diversification and Saving of
Energy (IDAE) under the Strategic Projects for Economic Recovery
and Transformation Program.
The funding will support the development of an organic
waste-to-renewable hydrogen production facility in Zaragoza,
Spain, using Raven's
non-combustion Steam/CO2 Reforming technology. The
project is the first in Europe to
be established on an industrial scale. Raven Iberia was previously
awarded in 2022, €1.7m by the European Commission being part of the
European Consortium, Hy2Market.
"This grant award reinforces the attractiveness of the
Steam/CO2 Reforming technology and the critical role it
can play in Spain and the European
Union when producing renewable hydrogen," said Matt Murdock, Founder and CEO of Raven SR. "We
are honored the Ministry recognizes the benefits of our
non-combustion technology and the opportunity to reduce organic
waste by converting it into renewable hydrogen. Spain is at the forefront of hydrogen
production in the EU and we look forward to developing this
project in the coming year to advance renewable fuel options in the
region."
The Ministry of Ecological Transition and Demographic Challenge
is responsible for developing government policy on addressing
climate change, prevention of pollution, and protecting the natural
heritage, biodiversity, forests, sea, water and energy for a more
ecological and productive social model. It is also responsible for
the elaboration and development of government policy against the
country's demographic challenges.
The Ministry is supporting with this specific call for projects,
innovative developments and advanced technologies to produce
renewable hydrogen in Spain that
can be replicable and scalable. The publication of the final award
resolution was made by the Ministry last week after approval by the
Board of Directors of the Institute for Energy Diversification and
Saving (IDAE), a public entity dependent on MITECO and responsible
for managing these funding programs for innovative
technologies.
By developing and deploying advanced technologies, Raven is
contributing to Spain's national
strategy of reducing carbon emissions and promoting renewable
energy sources. Raven is also exploring other production
opportunities across the European Union in France, Portugal, and Greece.
About Raven SR
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. Visit https://ravensr.com.
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SOURCE Raven SR Inc.