Wizz Air invests in US SAF startup

The low-cost airline Wizz Air has joined the US SAF startup CleanJoule together with major shareholder Indigo Partners, the sister companies Volaris and Frontier Airlines as well as Genzero and Cleanhill.

As part of the consortium's investment, Frontier Airlines, Wizz Air and Volaris have signed binding agreements to purchase up to 90 million gallons of SAF. Indigo Partners directors will also receive a seat on the CleanJoule board of directors.

GenZero is a decarbonization-focused investment platform from Singapore-based Temasek. Cleanhill Partners, a US-based private equity firm, is also focusing on decarbonization. Funds raised from the round will support the further development of CleanJoule technology to more cost-effectively produce high-performance SAF from agricultural residues and other waste biomass. The funding round marks an important chapter in the global effort to reduce carbon emissions and take meaningful climate action. SAF, a biofuel used to power commercial aircraft but with a lower carbon footprint, could potentially help reduce the emissions needed for the aviation sector to reach net-zero by 65 by up to 2050 percent.