Benzinga | Aug 24, 2021 01:40PM EDT

Raven SR Partners With Republic Services To Produce Commercial Green Hydrogen

* Raven SR Inc., a renewable fuels company, collaborates with Republic Services Inc. (NYSE:RSG) to convert organic waste to produce green hydrogen at a site in Richmond, California, starting summer 2022.

* Wyoming-based Raven SR will initially process up to 99.9 tons of organic waste per day at Republic Services' West Contra Costa Sanitary Landfill and produce up to 2,000 metric tons per year of renewable hydrogen and power for its operations.

* The green hydrogen will be resold in commercial fueling stations to power passenger and heavy-duty fuel cell vehicles.

* The agreement will help move toward California's goal of reducing emissions from organic waste under the state's Short-Lived Climate Pollutant (SLCP) Reduction Strategy while also producing emission-free hydrogen fuel for passenger and heavy-duty vehicles.

* Price Action: RSG shares are trading higher by 0.67% at $122.4 on the last check Tuesday.