Raven SR and Cap Clean Energy to Collaborate on Canadian SAF and Renewable Diesel projects

• Announcement marks Raven SR and Cap Clean's strategic commitment to sustainable aviation fuel (SAF) production to support aviation industry decarbonization
• MOU to co-develop a portfolio of bioenergy with carbon capture and sequestration (BECCS) opportunities across Canada
• SAF to be produced from non-combustion conversion of bio-waste feedstocks that do not compete with food

PINEDALE, Wyo., April 25, 2023 /PRNewswire/ -- Raven SR Inc. (Raven SR), a renewable fuels company, and Cap Clean Energy Corp. (Cap Clean), a clean energy development company headquartered in Calgary, Alberta, today announced they have signed a memorandum of understanding (MOU) to co-develop biofuels facilities in Canada to produce sustainable aviation fuel (SAF) and renewable diesel (RD) for the heavy duty transport sector.

The MOU provides a roadmap for a co-development partnership for deploying Raven SR's patented Steam/CO₂ Reforming process in Cap Clean's portfolio of biofuel facilities across Canada. This partnership will allow Cap Clean to produce high-quality renewable fuels from various biomass and bio-wastes feedstocks for the difficult-to-abate transportation sector using modular systems capable of rapid production scale-up.

"This MOU with Cap Clean Energy provides a pathway to explore development opportunities in Canada, and in addition to expanding our SAF production footprint, will lay the groundwork for our first renewable diesel project," said Matt Murdock, CEO of Raven SR. "Our agreement with Cap Clean will enable the production of SAF and RD with zero to negative carbon intensities in strategic North American markets utilizing local waste feedstocks that do not compete with food production. By reducing waste and emissions, we can have a meaningful impact on mitigating climate change while meeting the growing demand for sustainable and renewable fuels."

By converting various types of wastes, such as biomass waste, municipal solid waste, organic waste, and methane from municipal solid waste into clean fuels, Raven SR offers a sustainable solution for the reliable and long-term production of SAF and renewable fuels.

"Our purpose at Cap Clean is to develop a portfolio of clean energy assets to power society with more sustainable energy," said Steve Polvi, CEO of Cap Clean. "Cap Clean is committed to becoming an industry leader in sustainable biofuels production. The announcement between Cap Clean and Raven SR will support our goals of helping to rapidly decarbonize aviation. We look forward to collaboratively working together on biofuels production scale-up, which is imperative to supporting the aviation industry to achieve its net-zero goals."

The North American jet fuel market consumes ~25 billion gallons per year, of which less than 1% is currently produced from renewable sources. The demand for SAF over the next 10 years is forecast to grow at a compound annual growth rate of 10 – 15%.

The Raven SR technology is a 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. The process is more efficient than conventional hydrogen production and can deliver fuel with low to negative carbon intensity. Additionally, Raven SR's goal is to generate as much of its own power onsite as possible to reduce reliance on the power grid and be independent of the grid. Its modular design provides a scalable means to locally produce renewable hydrogen and synthetic liquid fuels from local waste.

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. Visit https://ravensr.com/.

About Cap Clean Energy

Cap Clean Energy, headquartered in Calgary, AB, Canada, develops biofuel facilities that upcycle biomass, mixed municipal solid wastes, bio-solids, sewage, and biogas into value-added drop-in renewable liquid fuels for the heavy-duty transport sector. By integrating proven technologies and other critical components across the sustainable fuels value chain, Cap Clean deploys novel development concepts that allow for the commercial scale production of non-food sourced cellulosic biofuels to meet the growing demand for sustainable fuels in North America while managing carbon emissions through carbon capture, utilisation & storage (CCUS). Our biofuels reduce the carbon impact of aviation and heavy-duty transport by more than 90% (or greater than 100% with CCUS) when compared to traditional fossil fuels. Visit https://capclean.com/.

SOURCE Raven SR Inc.