Renewable fuels company Raven SR has secured $15 million in new investments, which will contribute to the construction of its hydrogen project in Richmond, California. Ascent Funds, a venture capital fund dedicated to advancing the energy transition, led the latest investment, with contributions from existing investors Chevron New Energies, ITOCHU Corp, and Stellar J Corp.
""Raven SR is pleased to have the continued and enhanced support of our investors as we move toward construction of our organic waste-to-hydrogen facility,"" said founder and CEO of Raven SR Matt Murdock. ""This funding is crucial for finalising our production setup"".
The company has also appointed former Fannie Mae CFO Stuart McFarland as its board chairman as well as Ascent Funds chief investment officer as vice chairman. It also promoted its CFO Matt Scanlon to president and interim CFO.
Raven SR secures $15 million investment; bolsters leadership team
