Raven SR Inc., a renewable fuels company, has been awarded a €1.7m (USD$1.75m) grant from the European Commission for the development of a waste-to-hydrogen production facility in the Aragón region of Spain, according to a news release.
The funding is part of a broader €14m European Commission grant to Hy2Market, a multi-regional project led by the New Energy Coalition to research and produce hydrogen on an accelerated timeframe.
The company has been working on a $100m capital raise expected to close last month, as reported by ReSource.
Raven SR earlier this year established Raven Iberia, a wholly owned subsidiary in Zaragoza, the capital of Aragón, in conjunction with planning the $35m waste-to-hydrogen production facility in the region. The modular project’s commercial operations are targeted to begin in 2024 and the fuel supply will serve hydrogen-powered vehicles.
The Raven SR project in Aragón will produce 1,600 metric tons per year of renewable hydrogen from approximately 75 tons of organic solid waste per day. Raven SR’s patented, non-combustion technology reduces waste and emissions while creating clean, renewable fuel. Its design provides higher energy output per ton of waste than any other waste-to-hydrogen technology worldwide.
“We are honored to receive such broad support for our first waste-to-hydrogen production facility in Europe,” said Raven SR CEO Matt Murdock. “This initial project in Spain provides a foothold in a regional market that is highly supportive of shifting away from carbon-intensive fuels to achieve a net-zero energy economy. We also look forward to collaborating within the wider Hy2Market consortium to potentially expand to additional sites in the European Union.”
Raven SR’s project in Spain was chosen late last year by the S3 European Hydrogen Valleys Partnership as the best new industrial European initiative linked to hydrogen due to its advanced technological development stage and potential for scaling up in the European Union. Raven SR is also part of the Pilot Action Hy2Market and European Consortium related to the Interregional Innovation Investment Funding Instrument I3, which aims to support the commercialization and scaling up of interregional European innovation projects and investments through the development of European hydrogen value chains.
