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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
client focusb2bsub industryOil & Gassub industryWaste Solutionbusiness modelManufacturingsectorBiotechnologysectorHydrogensectorSustainable Development GoalssectorSustainable Aviation FuelsectorClimate TechsectorCircular EconomysectorWaste to BiogassectorHydrogen (Not Green)sectorZero Emission FuelsectorHydrogen Production

Valuation & funding

Raven funding history

Company financing events and reported valuations.

Deal typeDateAmountValuationInvestorsSource
EARLY VCEquity / VC Apr 2024 $15M $60M ITOCHU · Stellar J · Chevron New Energies · Ascent Funds
EARLY VCEquity / VC Jul 2023 $0 Rock Creek Group
EARLY VCEquity / VC Mar 2023 $0 Stellar J
GRANTOther financing Dec 2022 $1.9M European Commission
EARLY VCEquity / VC Mar 2022 $0 Samsung Ventures
SEEDEquity / VC Aug 2021 Undisclosed
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Financials

Workforce over time

Available workforce history. Financial fields without reported data are omitted.

YearEmployees
2026 9
2025 11
2024 11
2023 9
2022 9
2021 9
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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.

Latest monthly visits3.3K 3-month web change+94.1% 1-year team growth-18.2%
Monthly website visits47 observations · Jan 2022–Jul 2026
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Comparisons

Raven compared with similar companies

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Talent graph

Raven's talent

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Team profiled 3 named & role-tagged
Founders Hidden — book a demo/100 quality score
Key operators 1 quality Hidden — book a demo/100
Potential founders Hidden — book a demo likely future founders
Startup mafia Hidden — book a demo alumni-founded startups
Talent movements Hidden — book a demo in · Hidden — book a demo out past 12 months

Source: Dealroom Talent Intelligence.

Investors

7 investors on Raven's cap table

Sourced from Dealroom's funding and investor records.

Seed 1 investor entered at this stage
European Commission
Series A 6 investors entered at this stage
Samsung Ventures
Stellar J
Rock Creek Group
Ascent Funds
ITOCHU
Chevron New Energies

Global footprint

Where Raven has talent and traffic

Workforce by country
2 countries with
team presence
🇺🇸 United States83.3%
🇪🇸 Spain16.7%
2 countries shown

In the news

Latest news about Raven

Recent press, funding announcements, and product moves mentioning Raven — open to read from the original sources.

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Market sentiment

What the market is saying about Raven

An AI-synthesized read of the highest-engagement posts about Raven on X over the past 7 days. We rank by likes & retweets, ignore corporate channels, and surface the themes that broke out from real people.

Reading the room on X — pulling top posts and synthesizing themes…

Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour

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