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Raven SR Acquires Benicia Fabrication & Machine

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PINEDALE, Wyo.-- Raven SR Inc. (Raven SR), a waste-to-renewable fuels company, announced today it has acquired Benicia Fabrication & Machine Inc. (BFM), which will construct several key components of Raven's Steam/CO2 Reformer system as the company ramps up to meet increasing demand for green hydrogen and renewable synthetic fuels.

BFM, based in the San Francisco Bay Area, brings extensive experience in producing pressure vessels, heat exchangers and other crucial operational equipment for the upstream and downstream oil and gas as well as power and utilities sectors. The acquisition by Raven SR extends BFM's engineering and equipment fabrication capabilities into the renewable fuels sector. BFM will fabricate the proprietary reactors of the Raven SR systems to be installed in 2022 for waste-to-energy projects in California and serve Raven's expanding global project pipeline.

"By acquiring an American firm with a record of success in the energy sector, we will reliably deliver our renewable fuels production units to a growing market," said Matt Murdock, Raven SR CEO. "Companies and consumers are demanding responses to climate change sooner rather than later and our acquisition of BFM means we can meet the challenge now and mitigate manufacturing disruptions."

By acquiring a high-quality specialized fabricator moving into the green energy fabrication, Raven will ensure quality control of its production units, maintain competitive pricing of its retail fuels and manage its equipment supply chain in order to successfully meet project demand. 

BFM will retain its name and its CEO Carmelo Santiago, P.E., will become vice president of manufacturing at Raven and president of BFM as a wholly-owned subsidiary of Raven SR. BFM will also continue to serve its existing customers in the refining and utility sectors.

"Becoming part of Raven SR launches us into renewable energy, giving us the immediate opportunity to join the energy transition," Santiago said. "By combining our mechanical engineering know-how and Raven SR's chemical engineering advances, we can serve a broader array of customers across the energy spectrum."

BFM is also aligned with its customer base's initiatives in clean energy. Its first customer, Chevron, is also a strategic investor in Raven SR.

BFM offers engineering design and fabrication of ASME code certified equipment for all types of industries. It fabricates equipment through final assembly in turn-key fashion and components for original equipment manufacturers (OEM) as well as replacement for non-OEM components. It also provides maintenance support for the repair of industrial equipment.

The BFM acquisition comes after Raven SR announced its partnership with Republic Services to site its first California waste-to-hydrogen production facility at the West Contra Costa Sanitary Landfill in Richmond, Calif. Raven SR will convert organic waste with its patented non-combustion process to produce green hydrogen to be resold in commercial fueling stations in Northern California to power passenger and heavy-duty fuel cell vehicles. Raven SR will break ground in early 2022 at the Richmond location.

About Raven SR

Raven SR, headquartered in Wyoming, transforms biomass, mixed municipal solid waste, bio-solids, sewage, medical waste, and natural or biogas into renewable fuels. Using its proprietary, non-combustion, non-catalytic Steam/CO2 Reformation technology, Raven SR dependably produces a hydrogen-rich syngas regardless of feedstock utilized. Raven SR, led by co-founders Matt Murdock and Matt Scanlon, is committed to adding value to local resources and communities while responsibly reducing greenhouse gases and achieving a low carbon economy. By using modular systems and producing low air emissions, their systems can be located closer to customers and feedstock, creating local fuel from local waste for local mobility. Visit ravensr.com.

About Benicia Fabrication and Machine Inc.

Benicia Fabrication and Machine, Inc. (BFM) is a heavy fabrication and machine shop specializing in the repair, maintenance and new construction of pressure vessels, heat exchangers, and miscellaneous industrial equipment. BFM offers engineering design and fabrication of ASME code certified equipment for all types of industries and equipment. In addition, we provide maintenance support for the repair of industrial equipment. Founded in 1983, BFM facilities are located in the Benicia Industrial Park in Benicia, California (San Francisco Bay Area). The facility is located on 4 acres and operates four large bays consisting of a Fabrication, Machining, Plate, and Assembly & Testing shops. BFM is ready to service your needs to provide you a high-quality product.

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