Raven SR, a renewable fuels company, Chevron New Energies, a division of Chevron U.S.A. Inc., a subsidiary of Chevron (CVX), and Hyzon Motors (HYZN) announced they are collaborating to commercialize operations of a green waste-to-hydrogen production facility in Richmond intended to supply hydrogen fuel to transportation markets in Northern California. The facility will be owned by a newly formed company, Raven SR S1 LLC. Raven SR will be the operator of the facility, which is targeted to come online in the first quarter of 2024. Chevron holds a 50% equity stake in Raven SR 1. Raven SR holds a 30% stake and Hyzon owns the remaining 20%. Chevron plans to market its share of the hydrogen in Bay Area and Northern California fueling stations, enabling the energy transition to zero emission vehicles. Hyzon, a global supplier of fuel cell electric commercial vehicles, plans to provide refueling for hydrogen fuel cell trucks at a hydrogen hub in Richmond.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on HYZN:
