Raven SR successfully trials full-scale hydrogen production reformer

• Raven SR successfully trials its second stage equilibrium Steam/CO2 Reformer to produce hydrogen-rich syngas from methane at its Benicia facility in California
• Non-combustion and catalyst-free design exceeds the typical performance of SMR processes
• In collaboration with Stellar J, POWER Engineers and Watlow, the Raven SR team developed the protocols used in the trial
• Highly competitive technology ready for operation in first half of 2023

PINEDALE, Wyo., Sept. 8, 2022 /PRNewswire/ -- Raven SR Inc. (Raven SR), a renewable fuels company, announced today the results of the field trial of its non-combustion equilibrium Steam/CO2 Reforming SR2 unit, which converted methane to transportation-grade hydrogen at a rate exceeding other commercially available technologies for producing hydrogen from methane. Over 95% of the hydrogen currently produced in the U.S. uses Steam Methane Reformation (SMR), which has an average first-pass conversion efficiency of only 75-80%.

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The August 12 trial, held at Raven SR's Benicia Fabrication & Machine facility in Benicia, Calif., demonstrated to stakeholders at the event, including investors and local officials, how this ground-breaking technology for waste-to-hydrogen and gas-to-hydrogen processes is commercially ready, effective, and efficient.

The trial comes on the eve of Raven SR opening its Round C financing, which is expected to close this fall, with Raven SR advised by Barclays and BofA Securities. Raven's roster of strategic investors prior to its Round C launch includes Chevron, Ascent Hydrogen Fund, ITOCHU, Samsung and Hyzon Motors.

Raven SR plans to bring its first commercial Steam/CO2 Reforming production facility online in the first half of 2023 at the West Contra Costa Sanitary Landfill in Richmond, Calif., where Raven's facility will convert organic green waste into transportation-grade hydrogen for local customers.

"Today's results demonstrate, at scale, the core of Raven SR's industry leading technology. With this unit, built at our Benicia facility, Raven SR is now able to rapidly scale up production and project deployment," said Matt Murdock, CEO of Raven SR. "This was a monumental day to showcase how our technology is highly productive and efficient in creating a hydrogen-rich syngas for downstream conversion into renewable fuels. We now have the means to deliver advanced fuels with low to negative carbon intensity to markets around the world," said Murdock.

"These successful results strongly support our upcoming capital raise, which will be used to deploy multiple systems around the globe, positioning Raven SR as a key global player in carbon negative hydrogen and synthetic fuels," said Murdock. "We are ready to put our modular and scalable units on the ground to produce local fuel from local waste, contributing to energy independence and security."

The Raven SR technology can produce emissions-free hydrogen fuel and lower-carbon synthetic fuels from a variety of feedstock sources, including landfills, methane, fugitive gas wells, wastewater treatment plants, agricultural and other sites.

"Raven SR's vision of a non-combustion, non-catalytic reactor was seemingly impossible, but they've achieved it," said Jim Hays, business unit director at POWER Engineers. "Raven SR's technology is not only a major improvement upon existing technologies like SMR, but a significant step toward the future of clean hydrogen energy. POWER Engineers is proud to be part of this journey."

The patented Raven SR Steam/CO2 Reforming process was originally created by the late Professor Terry Galloway, whose earlier commercial systems were smaller until large scale commercialization by Raven SR.

"Raven SR's technology could significantly change the hydrogen production arena," said Terry Mazanec, chief operating officer of Lee Enterprises Consulting. "It has been a great pleasure to work with the Raven team on their waste-to-fuels process, and I am proud of the small part that Lee Enterprises Consulting has played to realize Galloway's vision. The Raven SR process allows under-utilized mountains of waste to be diverted from landfills and converted into the renewable fuels needed for the transition away from fossil resources."

Raven SR's technology is designed to produce hydrogen-rich syngas, the essential building block for clean fuels, efficiently and economically. Raven SR's renewable energy products, such as hydrogen, sustainable aviation fuels, synthetic liquid fuels (diesel, Jet A, mil-spec, JP-8), additives and solvents (such as methanol, butanol, and naphtha), will further promote local and regional energy independence and security.

Raven SR is especially grateful to its Chief Technology Officer Mike Fatigati for his energy, vision and persistence in designing and further developing Galloway's reformer and the incredible team at Benicia Fabrication and Machine, led by its CEO Carmelo Santiago, who fabricated our SR2 unit with a high degree of craftsmanship. Raven also appreciates its engineering, procurement and construction teams at Stellar J, POWER Engineers and Watlow, who all played critical roles in helping us finalize our design and managing our successful trial.

About Raven SR

Raven SR, headquartered in Wyoming, transforms biomass, mixed municipal solid waste, bio-solids, sewage, medical waste, and natural or biogas into renewable fuels. Using its proprietary, non-combustion, non-catalytic "Steam/CO2 Reformation" technology, Raven SR dependably produces a hydrogen-rich syngas regardless of feedstock utilized. Raven SR, led by co-founders Matt Murdock and Matt Scanlon, is committed to adding value to local resources and communities while responsibly reducing greenhouse gases and achieving a low carbon economy. By using modular systems and producing low air emissions, their systems can be located closer to customers and feedstock, creating local fuel from local waste for local mobility. Visit https://ravensr.com/.

SOURCE Raven SR Inc.