Raven SR (RAVEN) has secured a significant €1,441,862.95 grant from the Ministry for Ecological Transition and Demographic Challenge (MITECO). Administered through the Institute for the Diversification and Saving of Energy (IDAE), this funding falls under the Strategic Projects for Economic Recovery and Transformation Program. The grant underscores Raven SR's commitment to advancing sustainable technologies, specifically enhancing its initiatives aimed at economic recovery and transformation, aligning with Spain's ecological transition objectives.

The grant from MITECO will bolster Raven SR's efforts to establish an organic waste-to-renewable hydrogen production facility in Zaragoza, Spain. This initiative will utilize Raven's innovative non-combustion Steam/CO2 Reforming technology, marking the first such project in Europe at an industrial scale. The funding supports Raven's commitment to advancing sustainable energy solutions, contributing significantly to Spain's transition towards ecological sustainability. Previously, Raven Iberia secured €1.7 million in 2022 from the European Commission as part of the Hy2Market consortium, further validating Raven's leadership in pioneering renewable hydrogen technologies within Europe's evolving energy landscape.

The Ministry of Ecological Transition and Demographic Challenge plays a pivotal role in shaping governmental policies aimed at combatting climate change, preventing pollution, and safeguarding Spain's natural resources such as biodiversity, forests, seas, and water supplies. Its mandate extends to addressing demographic challenges, fostering a sustainable and productive societal model.

In its latest initiative, the Ministry has launched a targeted call for projects aimed at fostering innovative developments and advanced technologies capable of producing renewable hydrogen within Spain. These initiatives are intended to be scalable and replicable, supporting Spain's broader goals of transitioning towards cleaner energy solutions. The final approval and announcement of the awarded projects were recently made following endorsement by the Board of Directors of the Institute for Energy Diversification and Saving (IDAE), a public entity under the purview of MITECO responsible for managing funding programs aimed at promoting innovative energy technologies.

Matt Murdock, Founder and CEO of Raven SR, expressed gratitude for the grant award, emphasizing its validation of the Steam/CO2 Reforming technology's potential in Spain and the European Union for renewable hydrogen production. He highlighted the Ministry's recognition of Raven SR's non-combustion approach and its role in converting organic waste into renewable hydrogen. Murdock underscored Spain's leadership in EU hydrogen production and expressed eagerness to advance the project in the upcoming year, contributing to the expansion of sustainable fuel alternatives across the region.

Raven's commitment to deploying cutting-edge technologies aligns seamlessly with Spain's national strategy to reduce carbon emissions and increase reliance on renewable energy sources. By focusing on the development and implementation of advanced hydrogen production technologies, Raven not only contributes to Spain's environmental objectives but also explores potential expansion opportunities across the European Union. Markets in France, Portugal, and Greece are among those being actively considered for future growth and deployment of similar sustainable energy solutions.