Embracing the drive for sustainability, London-based carbon utilisation enterprise Rivan has successfully secured £10 million in funding to bolster its innovative efforts in decarbonising heavy industry. This remarkable injection of funds will be spearheaded by Plural, an early-stage investment firm, alongside participation from noteworthy backers such as 20VC, NFDG, and angel investors like Patrick and John Collison of Stripe. Rivan’s strategic move signifies an alignment of interest among stakeholders keen on advancing sustainable solutions in industrial operations. By employing state-of-the-art technology originally manufactured in Bermondsey, Rivan is set to develop and deploy cost-efficient carbon capture solutions. Additionally, this development may foster further innovation and industry partnerships.
Similar funding initiatives for carbon capture technology have been observed in recent years, reflecting a growing interest among investors in sustainability. Previous reports emphasized a modest advancement in capturing carbon emissions. With Rivan’s development of modular plants powered by off-grid solar energy, this shows an evolution from earlier reliance on conventional energy forms, advancing the cost-reduction and deployment efficiency of these systems. This reflects a shift from past models that faced barriers in scalability and cost management. Furthermore, the company’s emphasis on the integration of synthetic fuels represents a broader trend of seeking fossil fuel alternatives.
How is Rivan Addressing Carbon Emissions?
Rivan’s approach to tackling carbon emissions lies in its innovative design of modular synthetic fuel plants. These plants aim to decarbonise industries previously reliant on natural gas, which contributes significantly to global carbon emissions. By leveraging electrolyser, direct-air-capture (DAC), and Sabatier reactor modules, the company aims to foster a transition to carbon-neutral synthetic fuels. This solution seeks to handle heavy industries’ hard-to-abate emissions by substituting fossil fuels with synthetic natural gas (SNG) that bears the same chemical properties but lacks environmental detriment. Furthermore, the company’s systems are designed for seamless integration with existing pipeline infrastructures in the UK and Europe.
What Are Rivan’s Future Goals?
TS scaling its project from a 100kW pilot to a 1MW setup is Rivan’s immediate priority. This expansion will showcase the plant’s ability to produce SNG on a larger scale while maintaining cost-effectiveness. By doing so, Rivan prepares for commercial-scale deployments targeted for 2026, seeking to improve performance metrics and reduce manufacturing costs. The goal is to prove that their technology can achieve scale and price parity with current fossil fuel systems. Rivan’s founder, Harvey Hodd, underscores the pressing need for such solutions, stating the importance of economically viable synthetic fuels to facilitate industry-wide decarbonisation.
The advancements made by Rivan signify a potential pivotal moment in reducing carbon emissions from industrial sources. Their technology is made more essential by the realistically unattainable alternatives of carbon credits or battery solutions for industries such as steel and cement. Rivan’s use of only air and water as inputs for SNG production highlights a sustainable innovation, while their partnership with world-class investors suggests confidence in long-term viability and impact.
Overall, Rivan’s funding efforts and technological innovations aim to transform how heavy industries manage emissions, with ambitions to lead by example in the UK and Europe. Their initiatives reflect a broader landscape shift toward sustainable practices in industrial operations, representing hope for achieving energy security while reducing environmental impacts.
