As Europe grapples with volatile energy markets and heavy reliance on imported fuels, a new generation of startups is stepping in to reshape the continent’s energy future. Rivan is emerging as a key player in this shift, securing $34 million in fresh funding to accelerate the development of domestically produced synthetic fuels designed to strengthen energy security and reduce emissions.
Strong Investor Backing Signals Urgency
The funding round was led by IQ Capital, with participation from existing investor Plural and new backer Fundomo. The round also attracted prominent angel investors, including Thomas Wolf, Matt Clifford, and Markus Villig.
This latest raise brings Rivan’s total funding to $46 million, underscoring strong confidence in its approach to tackling one of Europe’s most pressing challenges.
A Region Under Energy Pressure
Natural gas remains a cornerstone of Europe’s economy, powering industries, generating electricity, and heating homes. However, dependence on imports continues to expose the region to supply disruptions and price volatility.
Recent geopolitical tensions and global competition for energy resources have driven significant price increases, highlighting the urgent need for more resilient and locally sourced energy solutions. Rivan was founded to address this vulnerability by enabling large scale domestic production of synthetic fuels.
Turning Sunlight and Air into Fuel
Founded in 2024 by Harvey Hodd, the company has developed a vertically integrated system that produces synthetic natural gas using renewable inputs.
The process begins with solar energy, which powers electrolysis to generate green hydrogen. At the same time, carbon dioxide is captured directly from the air using direct air capture technology. These elements are then combined in a reactor to produce synthetic natural gas that is chemically identical to conventional natural gas.
This compatibility allows the fuel to be injected directly into existing pipelines and storage infrastructure, eliminating the need for costly system overhauls.
From Pilot to Operational Scale
In just a short time, Rivan has made significant progress in scaling its technology. The company operates a one megawatt plant in Wiltshire, currently the largest of its kind in the United Kingdom.
Since its seed round, Rivan has transitioned from pilot systems to a fully operational facility while tripling its customer contracts. This rapid growth reflects increasing demand for reliable and sustainable energy alternatives that can be deployed quickly.
Scaling Up Manufacturing and Infrastructure
The newly raised capital will support several major expansion initiatives. Rivan plans to build Europe’s largest synthetic natural gas plant and open a new 50,000 square foot manufacturing facility in London. The company also intends to more than double its workforce, growing its team to around 100 employees.
In addition, Rivan has partnered with Wales & West Utilities to deliver the United Kingdom’s first grid connected commercial synthetic natural gas project. Larger gigawatt scale sites are already in development, signaling the company’s ambition to operate at national scale.
A Vision for Energy Independence
Rivan aims to produce more than one billion cubic metres of synthetic natural gas annually within the next decade. This would represent a significant share of the United Kingdom’s industrial gas demand while also removing millions of tonnes of carbon dioxide from the atmosphere.
By combining renewable energy with advanced engineering, the company is working to create a new category of domestic energy production that is both sustainable and economically viable.
Building the Next Energy Giant
Rivan’s integrated approach, from in house system design to full scale production, is central to its strategy of achieving cost parity with fossil fuels. As the platform scales, the company expects its synthetic fuel to become increasingly competitive.
With strong investor backing, rapid technological progress, and growing market demand, Rivan is positioning itself as a future leader in Europe’s energy landscape. Its mission goes beyond innovation, aiming to deliver a stable, secure, and sustainable energy supply for the region’s industries and communities.