Ascent Hydrogen Fund Announces Investment in Raven SR – One of the Only Combustion-Free, Waste-to-Green Hydrogen Producers in the World

May 6, 2021; New York, USA: Ascent Hydrogen Fund (“Ascent”), a US-based energy investment platform, today announced it has signed an agreement to make an investment in Raven SR, LLC (“Raven SR”), a renewable fuels company based in Wyoming, USA. Raven SR owns propriety technology that can convert mixed and multiple organic wastes, such as municipal solid waste, medical waste, paper, plastics, and woodchips, as well as natural gas or biogas, into locally-produced, renewable green hydrogen and/or renewable synthetic fuels such as jet fuel or diesel fuel. Raven SR produces more hydrogen per to…

May 6, 2021; New York, USA: Ascent Hydrogen Fund (“Ascent”), a US-based energy investment platform, today announced it has signed an agreement to make an investment in Raven SR, LLC (“Raven SR”), a renewable fuels company based in Wyoming, USA.  Raven SR owns propriety technology that can convert mixed and multiple organic wastes, such as municipal solid waste, medical waste, paper, plastics, and woodchips, as well as natural gas or biogas, into locally-produced, renewable green hydrogen and/or renewable synthetic fuels such as jet fuel or diesel fuel.  Raven SR produces more hydrogen per tonne of waste than any other process  Ravens SR's technology enables it to be one of the only combustion-free, waste-to-hydrogen producers in the world, and the company has developed a strong portfolio of patents around this technology. Unlike alternative approaches to waste disposal, such as incineration or gasification, Raven SR's steam/CO2 reformation process involves no combustion, as confirmed by the State of California EPA’s Department of Toxic Substances.  The removal of oxygen from the process avoids the creation of toxic pollutants and particulates while still producing more green hydrogen per tonne of waste than competing processes.  In addition, the process will divert organic waste from landfills, ameliorating the growing global landfill problem. Raven SR is expected to generate a carbon emissions profile that is superior to both other waste-to-hydrogen technologies, as well as to production of hydrogen through electrolysis using wind or solar generated electricity.  Raven’s steam/CO2 reforming process produces no toxic pollutants Raven SR’s renewable green hydrogen is 99.9999% pure and produced at costs that are similar to hydrogen produced using hydrocarbons - so-called "gray" hydrogen. In California, the hydrogen produced through Raven SR's process is expected to benefit from the state's Low Carbon Fuel Standard (LCFS), allowing Raven SR to sell hydrogen to third parties at extremely competitive prices.  Raven SR’s process can also convert waste and natural gas into other renewable energy products such as synthetic liquid fuels (diesel, Jet A, mil-spec JP-8), additives and solvents (acetone, butanol, naphtha, etc.) and even electricity via microturbines. Raven SR’s renewable synthetic fuels are also cleaner, and more powerful, capable of delivering higher engine output and greater torque .  Raven and Hyzon agree to build out 100 hydrogen hubs  On April 27, 2021, Hyzon Motors Inc., a leading supplier of zero-emission hydrogen fuel cell-powered vehicles, announced it had entered into an agreement with Raven SR to build out 100 green hydrogen hubs across the US and globally. The first Hyzon-Raven hydrogen hub will be built in the San Francisco Bay Area and is expected to process 50 tonnes of solid waste per day, producing up to 4.5 tonnes of renewable green hydrogen. Future hubs may be able to scale to five times larger to accommodate sites with higher hydrogen requirements.  [For the full announcement, please click HERE]. Looking for future Hydrogen Champions Mr. Matt Murdock, CEO of Raven SR, said: "We’re excited to now have Ascent onboard – a team of experienced energy investors and capital market executives who understand Raven’s role in decarbonization and the energy transition. Ascent also has a proven track record of working closely with their investee companies, providing both strategic guidance as well as day-to-day support through Ascent’s global network.” Mr. David Wu, President of Ascent Hydrogen Fund said, “Ascent’s global mandate is to look for champions across the hydrogen value chain from hydrogen production, hydrogen logistics to hydrogen applications. Following our investment in Hyzon Motors, a champion in the hydrogen mobility sector, and natural hydrogen explorer Helios Aragon in Spain, we are excited to now also be working with Raven SR, a unique technology that solves both the waste problem as well as the hydrogen production problem.” The deal is expected to close in the third quarter of 2021.

• Raven SR owns patents on a combustion-free, waste-to-hydrogen process capable of producing more pure green hydrogen per tonne of waste than similar processes 
• Raven SR and Hyzon Motors plan to build out 100 hydrogen hubs in the US and globally – converting over 5,000 tonnes of waste per day and powering over 10,000 heavy duty trucks
• Raven SR’s green hydrogen is 99.999% pure and cost competitive even against ‘gray’ hydrogen produced from hydrocarbons
• Raven SR can also produce high quality synthetic liquid fuels, like jet fuel and diesel fuel

About Ascent Hydrogen Fund  Ascent Hydrogen Fund is a US-based energy platform that seeks champions within the hydrogen ecosystem. Ascent is led by Mark Gordon, veteran Wall Street energy investor with senior positions at Goldman Sachs, Soros Fund Management, Paulson & Co and Janus Henderson; and capital markets executive David Wu, a former Rothschild banker and Chairman of Capital Markets for Fosun International, one of the largest investment conglomerates in the world managing over US$100bn in total assets.  Find out more at www.ascent-funds.com  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.  Find out more at www.ravensr.com

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