Rivan, a startup developing synthetic fuel has raised £25m in new funding to scale its production capacity. The new funding round saw VC group Plural re-invest in the firm after leading its £10m funding round in May 2025. The company was launched to reduce the cost and increase the availability
Oscar Hornstein
Rivan, a startup developing synthetic fuel has raised £25m in new funding to scale its production capacity.
The new funding round saw VC group Plural re-invest in the firm after leading its £10m funding round in May 2025.
The company was launched to reduce the cost and increase the availability of synthetic fuels to make them a better option than traditional fossil fuels in heavy industries. It is particularly focused on industries that struggle with electrification.
Rivan’s is currently developing synthetic natural gas that it hopes will become much cheaper than fossil fuels for use at scale across Europe. According to figures cited by the company, 22% of global emissions come from the use of natural gas in industries such as steel, cement and chemicals.
“We started Rivan to create a large-scale domestic supply of synthetic fuels, removing the price, supply and emissions risk crippling Europe today. Natural Gas will remain an essential part of the energy system, especially for heavy industry, but how it is produced needs to change,” Harvey Hodd, founder and chief executive at Rivan.
“By vertically integrating the entire process and manufacturing entirely in-house, we can enable domestic production of synthetic fuels at a scale and price that can make a dent in Europe’s energy security plan. This new funding is a big step towards achieving that, and a small step towards our ultimate aim to make life sustainable on Earth.”
The new funding round was led by IQ Capital with additional support from Plural.
