Rivan Funding News-UK-Based Rivan Raises £10M Led By Plural

Other investors include 20VC, Nat Friedman and Daniel Gross (NFDG), and angel investors Patrick and John Collison, co-founders of Stripe.

Rivan is building modular synthetic fuel plants powered fully by off-grid solar energy. Their goal is to improve energy security and reduce industrial carbon emissions in the UK and Europe.

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Their technology captures CO₂ from the air and combines it with green hydrogen made through electrolysis to create carbon-neutral fuels. These fuels are the same as regular fossil fuels but cleaner, so they can be used directly with current infrastructure.

This is especially important for tough-to-decarbonize industries like steel, cement, chemicals, and aviation.

“Capturing the 12 gigatonnes of carbon emitted every year by heavy industry is one of the defining challenges of our time,” said Harvey Hodd, Rivan’s founder and CEO. “For hard-to-abate industries like steel, cement, aviation and chemicals, neither carbon credits nor batteries paired with renewables provide a realistic solution. Until we develop cost-effective synthetic fuels from carbon captured from the air, we can’t expect industry to decarbonise.”

What makes Rivan stand out is its fully in-house, solar-powered production setup. The company designs and builds all three key components — the electrolyser, DAC unit, and Sabatier reactor — at its 10,000 sq ft factory in Bermondsey, London.

Its modular plants run off-grid and take advantage of falling solar energy costs to make fuels that are competitively priced with fossil fuels.

“Rivan is manufacturing vertically-integrated machines in Bermondsey and deploying them to solar-powered, off-grid sites to make carbon capture economically viable and achieve optimum costs and performance,” said Taavet Hinrikus, Partner at Plural. “With this ambition and Harvey’s background, I’m excited to be a part of Rivan’s mission to transform energy security and tackle the climate crisis once and for all.”

Rivan has already launched a 100kW pilot plant at a former military base in the UK, producing synthetic natural gas (SNG) using only air and water.

With the new £10 million funding, the company plans to scale up to a 1MW plant and aims for commercial-scale operations by 2026. It also plans to expand into liquid synthetic fuels, such as e-fuels for aviation.

Synthetic fuels are becoming a key solution for decarbonising industries that can’t easily switch to electricity. But high costs have been a major barrier.

Rivan is banking on the fast-declining price of solar energy—dropping by about 1% each month—to make synthetic fuels competitive with fossil fuels.

The EU’s push to cut emissions in hard-to-decarbonize sectors, along with the UK’s growing focus on energy security, makes Rivan’s approach especially relevant.

Rivan joins other players in this space, like Ineratec in Germany and Synhelion in Switzerland, who are also working on synthetic fuel technologies.

The startup is currently hiring engineers and will use the funding to boost R&D, improve its core modules, and increase production efficiency.

Rivan’s long-term vision is clear: “We hope to lead by example to show that synthetic fuels can be competitive with fossil fuels to deliver long-term energy security,” said Hodd.

About Rivan

Rivan Industries (Rivan.com) designs, builds, and operates synthetic fuel plants. Its mission is to make life on Earth more sustainable by making it cheaper to produce fuels from air than to extract them from the ground.