R
Raven
Aviation · Pinedale, United States · Founded 2018
A producer of green hydrogen and synthetic fuels using organic waste MoreLess
Raven SR is a renewable fuels company operating in the clean energy and waste management sectors. The company was founded in January 2018 by CEO Matt Murdock, an entrepreneur with over 30 years of experience in renewable energy and infrastructure projects. His journey with the technology began in August 2015, working with its creator, the late Dr. Terry Galloway, and founding Sublette GTL to adapt the process for gas fields and landfills. This led to Murdock's group purchasing the assets of Dr. Galloway's company, Intellergy, to establish Raven SR.
The company's business model centers on deploying its patented, non-combustion Steam/CO2 Reforming technology to convert a wide array of organic waste into high-value renewable fuels. This process accepts diverse feedstocks, including municipal solid waste, biosolids, biomass, and various gases, without requiring combustion, which significantly reduces emissions. Raven SR's modular and scalable systems are designed to be deployed locally at sites like landfills and wastewater treatment plants, processing local waste to produce fuel for local markets, thereby minimizing transportation costs and emissions. Revenue is generated through the sale of these clean fuels to various clients, including partnerships for hydrogen refueling stations and agreements with major airlines for sustainable aviation fuel (SAF).
Raven SR produces two primary product lines: high-purity (99.999%) renewable hydrogen and Fischer-Tropsch (FT) synthetic fuels. The hydrogen is suitable for fuel cell electric vehicles, while the FT process yields sustainable fuels like renewable diesel and SAF (including Jet A, Jet B, and JP-8). A key feature of the core technology is its high efficiency, producing a greater volume of hydrogen-rich syngas per ton of waste compared to competing methods like gasification. This efficiency, coupled with the system's feedstock flexibility and the fact that it does not consume fresh water, offers a distinct advantage over conventional hydrogen production and electrolysis. The company has established key strategic projects, including its first commercial-scale waste-to-hydrogen facility in Richmond, California, in collaboration with Republic Services and Chevron. Additionally, Raven SR is expanding internationally with a project in Zaragoza, Spain, which has received financial backing from the European Commission and the Spanish government, marking it as a project of regional interest.
Keywords: waste-to-hydrogen, renewable fuels, Fischer-Tropsch, sustainable aviation fuel, syngas, steam reforming, clean energy, waste conversion, circular economy, non-combustion, green hydrogen, biomass conversion, synthetic fuels, low-carbon fuels, distributed energy, cleantech, renewable diesel, waste management solutions, hydrogen production, modular systems, carbon capture
Company overview
Raven company information
The essential company record, classifications and operating signals in one place.
- Status
- Operational
- Founded
- 2018
- Headquarters
- Pinedale, United States
- Employees
- 9
- Open positions
- None listed
- Dealroom signal
- 68.4
Valuation & funding
Raven funding history
Company financing events and reported valuations.
| Deal type | Date | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| EARLY VC✓Equity / VC | Apr 2024 | $15M | $60M | ITOCHU · Stellar J · Chevron New Energies · Ascent Funds | ↗ |
| EARLY VC✓Equity / VC | Jul 2023 | $0 | — | Rock Creek Group | ↗ |
| EARLY VC✓Equity / VC | Mar 2023 | $0 | — | Stellar J | ↗ |
| GRANT✓Other financing | Dec 2022 | $1.9M | — | European Commission | ↗ |
| EARLY VC✓Equity / VC | Mar 2022 | $0 | — | Samsung Ventures | ↗ |
| SEED✓Equity / VC | Aug 2021 | Undisclosed | — |
Financials
Workforce over time
Available workforce history. Financial fields without reported data are omitted.
| Year | Employees |
|---|---|
| 2026 | 9 |
| 2025 | 11 |
| 2024 | 11 |
| 2023 | 9 |
| 2022 | 9 |
| 2021 | 9 |
Growth signals
Raven website traffic
Latest recorded traffic for Raven is 3.3K monthly website visits, up 94.1% over the last three months. Raven's team declined 18.2% over the past year.
Comparisons
Raven compared with similar companies
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Talent graph
Raven's talent
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Investors
7 investors on Raven's cap table
Sourced from Dealroom's funding and investor records.







Global footprint
Where Raven has talent and traffic
team presence
In the news
Latest news about Raven
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Market sentiment
What the market is saying about Raven
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