Raven SR has made key transitions in the company’s leadership, and secured $15 million in new investments.
Raven SR stated that the former CFO of Fannie Mae, Stuart McFarland, will take on the role of chairman of the Board of Directors, alongside Mark Gordon of Ascent Funds, who becomes vice chairman. The new entrants in the board include Justin Heyman of RockCreek Group, and Stellar J Corp.’s founder and CEO, Robert Kinghorn. Matt Scanlon, the present CFO, is expected to ascend into the role of president and interim CFO.
Fundraising
Raven SR’s latest fundraising effort signifies investor trust in the company’s unique Steam/CO2 Reforming technology. This technology can convert various waste streams into renewable transportation fuels like hydrogen and sustainable aviation fuel (SAF). Compared to known alternatives, the process exhibits superior efficiency.
Ascent Funds, a venture capital fund focused on hastening the energy transition, took the lead in the latest $15 million investment. Chevron New Energies, ITOCHU Corp, and Stellar J Corp., existing investors in the company, also contributed to this funding round. Interestingly, Stellar J Corp. will manage the construction of Raven SR’s hydrogen project in Richmond, California.
