2 minute read | January.12.2023
Orrick advised Chevron New Energies, a division of Chevron U.S.A. Inc., on its collaboration with Raven SR Inc. (Raven SR), a renewable fuels company, and Hyzon Motors Inc. (NASDAQ: HYZN), a global supplier of fuel cell electric commercial vehicles, to develop, construct and own a green waste-to-hydrogen production facility in Richmond, California, that will supply hydrogen fuel to transportation markets in Northern California.
The facility will be owned by a newly formed company, Raven SR S1 LLC, and operated by clean fuels company Raven SR. Chevron holds a 50% equity stake in Raven SR 1, while Raven SR holds a 30% stake and Hyzon owns the remaining 20%. Chevron will market its share of the hydrogen in California fueling stations while Hyzon plans to offer refueling for hydrogen fuel cell trucks at a hydrogen hub in Richmond.
Raven SR’s technology is a first-of-its-kind non-combustion thermal, chemical reductive process that converts organic waste and landfill gas to hydrogen and Fischer-Tropsch synthetic fuels. Unlike other hydrogen production technologies, its Steam/CO2 Reformation does not require fresh water as a feedstock and uses less than half the energy of electrolysis. The process is more efficient than conventional hydrogen production and can deliver fuel with low to negative carbon intensity. In addition, the project is expected to divert up to 99 wet tons of green and food waste per day from a local landfill, producing up to 2,400 metric-tons per year of renewable hydrogen and potentially avoiding up to 7,200 metric-tons per year of CO2 emissions from the landfill. Commercial operation is targeted for Q1 2024.