Plural participates in Rivan’s $34M funding round
Rivan, a London-based climate and energy startup, has raised $34 million in a funding round led by IQ Capital, with participation from Plural, Fundomo, and angel investors including Thomas Wolf (Hugging Face), Matt Clifford (Entrepreneur First), and Markus Villig (Bolt).
Founded in 2024 by Harvey Hodd, Rivan is developing synthetic natural gas (SNG) infrastructure to decarbonise heavy industry and strengthen Europe’s energy security. Its technology produces carbon-neutral gas from air, water, and renewable energy, offering a drop-in replacement for fossil fuels in sectors such as steel, cement, and chemicals.
The company has already built a 1MW synthetic gas plant in the UK, demonstrating its vertically integrated approach—from hydrogen production and carbon capture to fuel synthesis—using in-house designed systems.
Harvey Hodd, Founder of Rivan, said: “We need to build the infrastructure to produce clean, reliable fuel at scale in Europe. Synthetic gas allows us to decarbonise industry without requiring major changes to existing systems.”
Rivan is addressing a critical challenge for Europe, where reliance on imported natural gas continues to expose the region to price volatility and geopolitical risks.
The new funding will support the construction of large-scale synthetic gas infrastructure, expansion of manufacturing capacity, and continued technology development as the company works to enable domestic, cost-competitive fuel production across Europe. This latest round brings Rivan’s total funding to $46 million.
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