We invested in Raven SR, Inc., a US company that will produce renewable fuel from municipal solid waste in August 2021.
Raven SR’ has announced that it will soon be starting commercial production of its hydrogen plant as a first step. The innovative Steam/CO2 reforming, non-combustion technology has the potential to revolutionize the renewable fuels industry by converting various types of local waste, such as green waste, municipal solid waste, organic waste and methane from municipal solid waste, into clean fuels including hydrogen and SAF.

With its distributive model, Raven SR's technology offers a sustainable solution for the reliable long-term production of renewable fuels. By utilizing local and regional waste, the company produces fuels closer to market demand, leading to greater decarbonization and addressing environmental issues caused by waste in specific regions.

ITOCHU, a global leader in the renewable energy sector, intends to keep close relationships with Raven SR to commercialize projects that contributes to a stable supply of renewable fuel. Raven SR's technology represents a major breakthrough in the production of renewable fuels and could play a significant role in reducing carbon emissions and promoting sustainability in the global energy market.

Additionally, we have invested to Chomp, formerly Impact Bioenergy, a U.S.-based company whose proprietary equipment turns food and other organic waste into renewable energy and organic fertilizer through anaerobic digestion.

In the United States, regulations on landfill waste are being tightened for the benefit of environmental protection, and there is a growing awareness around the need to reduce waste. In August 2022, the federal government passed the Inflation Reduction Act, a bill that greatly expands subsidies for renewable energy projects, to inspire and stand behind carbon neutrality commitments. More and more states—among them California and New York—and municipalities are imposing regulations around organic waste disposal and recycling in order to reduce the amount of food waste sent to landfills and to work toward carbon neutrality.

Chomp develops, manufactures, and sells equipment right-sized for supermarkets, food processing businesses, campuses and municipalities. Their solution is modular, odorless and easy to install. The energy output can be used for electricity and fuel. The platform also reduces costs related to waste disposal and transportation and draws carbon down from the environment, generating carbon credits.

We expect that demand for Chomp's equipment will increase as food waste regulations continue to tighten across the United States. ITOCHU aims to support the expansion of Chomp’s marketing and manufacturing systems, and, in the medium to long term, ITOCHU aims to support overseas expansion by leveraging ITOCHU's overseas network.