London-based synthetic fuel startup Rivan has raised $34 million in new funding, led by IQ Capital, with participation from existing investor Plural, new investor Fundomo, and angel investors including Thomas Wolf, Matt Clifford, and Markus Villig.
The company said the round brings its total funding to $46 million. Rivan is developing synthetic fuel systems aimed at strengthening Europe’s energy security by producing fuel domestically using renewable energy and captured carbon.
The new capital will be used to deploy what Rivan says will be Europe’s largest synthetic natural gas plant, open a 50,000 sq ft manufacturing facility in London, and expand its headcount to 100 employees.
The raise comes as interest grows in technologies designed to reduce Europe’s reliance on imported fossil fuels while working within existing energy infrastructure.
The company said the round brings its total funding to $46 million. Rivan is developing synthetic fuel systems aimed at strengthening Europe’s energy security by producing fuel domestically using renewable energy and captured carbon.
The new capital will be used to deploy what Rivan says will be Europe’s largest synthetic natural gas plant, open a 50,000 sq ft manufacturing facility in London, and expand its headcount to 100 employees.
The raise comes as interest grows in technologies designed to reduce Europe’s reliance on imported fossil fuels while working within existing energy infrastructure.