Business Wire

Cleanhill Partners Announces Partnership with CleanJoule to Drive Growth of Sustainable Aviation Fuel

Share

Cleanhill Partners, a private equity firm pursuing investments in the energy transition sector that contribute to decarbonization, announced a partnership with CleanJoule LLC, the world’s leading producer of full-performance sustainable aviation fuels (SAF). The deal provides CleanJoule with the financial, strategic and operational resources to accelerate the commercialization of its technology – advancing meaningful efforts to slow climate change and addressing energy shortages predicted to disrupt the aviation industry within the next 30 years. The investment comes on the heels of Cleanhill’s partnership with KORE Power, Inc., the leading U.S.-based developer of battery cell technology for the electric transportation and energy storage industries.

“As decarbonization of the aviation sector continues to present a daunting technological challenge and mounting environmental imperative, we are thrilled to be able to partner with Cleanhill and advance our shared vision of creating cost-effective clean energy solutions that can be deployed today,” said Dr. Mukund Karanjikar, CEO of CleanJoule. “Having led the way in developing the industry’s most eco-friendly and commercially viable sustainable aviation fuel, CleanJoule is now very well-positioned to significantly expand its adoption and shorten the timeframes to achieving a greener global aviation industry.”

Dr. Karanjikar, who previously held innovation-focused roles at Technology Holding LLC and Chevron, has spent more than a decade developing the CleanJoule SAF technology, along with Dr. Ashok Joshi, a globally recognized, high-technology entrepreneur. Validated by the U.S. Department of Defense and U.S. Department of Energy, CleanJoule’s proprietary production process converts biomass into a superior SAF molecule along with a bio-derived rubber co-product, yielding the only carbon negative, zero-petroleum, full performance and 100 percent drop-in SAF that can be used in a variety of commercial aviation engines without modification.

Cleanhill co-founders and Managing Partners Ash Upadhyaya and Rakesh Wilson will join CleanJoule’s board of directors. Having previously served in leadership positions at KKR and Apollo, respectively, they bring decades of experience investing across the energy value chain.

“Cleanhill is laser-focused on partnering with companies such as CleanJoule that are solving large-scale decarbonization challenges with timely, commercially viable approaches,” said Upadhyaya and Wilson. “By rapidly scaling CleanJoule in collaboration with our industry partners, we’ll be advancing efforts of vital importance to the climate and global economy.”

Kirkland & Ellis LLP served as legal counsel to Cleanhill Partners.

About CleanJoule

CleanJoule is the world’s leading innovator of full-performance SAF, founded by a passionate and creative group of engineers, scientists and visionaries focused on aviation fuels, with the purpose of creating a sustainable planet, reducing global carbon emissions and ultimately combatting climate change. CleanJoule’s highly innovative technology allows it to harness existing energy from biomass and convert it to superior performance aviation fuel as well as bio-rubber that can be used in various consumer and commercial products. For more information, visit www.cleanjoule.com.

About Cleanhill Partners

Cleanhill Partners is a private equity firm pursuing investments in the energy transition sector that contribute to decarbonization. The firm invests in scalable businesses with visibility into revenues, earnings and cash flow growth, leveraging its thesis-driven approach and operational expertise to enhance value in each of our investments. The firm has offices in New York and Houston. To learn more, please visit www.cleanhillpartners.com.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Media Relations
Hannah Arnold, The LAKPR Group
harnold@lakpr.com

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Schlumberger Announces Fourth-Quarter and Full-Year 2021 Results21.1.2022 12:50:00 CET | Press release

Schlumberger Limited (NYSE: SLB) today reported results for the fourth-quarter and full-year 2021. Fourth-Quarter Results (Stated in millions, except per share amounts)Three Months EndedChangeDec. 31, 2021Sept. 30, 2021Dec. 31, 2020SequentialYear-on-yearRevenue* $6,225 $5,847 $5,532 6% 13% Income before taxes - GAAP basis $755 $691 $471 9% 60% Net income - GAAP basis $601 $550 $374 9% 61% Diluted EPS - GAAP basis $0.42 $0.39 $0.27 8% 56% Adjusted EBITDA** $1,381 $1,296 $1,112 7% 24% Adjusted EBITDA margin** 22.2% 22.2% 20.1% 2 bps 208 bps Pretax segment operating income** $986 $908 $654 9% 51% Pretax segment operating margin** 15.8% 15.5% 11.8% 31 bps 401 bps Net income, excluding charges & credits** $587 $514 $309 14% 90% Diluted EPS, excluding charges & credits** $0.41 $0.36 $0.22 14% 86% Revenue by Geography International $4,898 $4,675 $4,343 5% 13% North America* 1,281 1,129 1,167 13% 10% Other 46 43 22 n/m n/m $6,225 $5,847 $5,532 6% 13% *Schlumberger divested certain businesses i

ZuluTrade - World’s Largest Social Trading Platform Joins the Finvasia Group21.1.2022 12:08:00 CET | Press release

ZuluTrade is strongly positioned to become the biggest and the largest broker neutral social trading platform with acquisition by Finvasia Group. 2022 will see ZuluTrade strengthening its current capabilities and widen its product line by venturing into different markets and financial instruments. The expansion will include contemporary asset classes like cryptocurrencies and traditional asset classes like stocks and bonds. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220120005780/en/ ZuluTrade - World’s Largest Social Trading Platform Joins the Finvasia Group (Graphic: Business Wire) ZuluTrade has been at the forefront of copy trading for more than a decade and has helped over a million investors across more than 100 countries trade a volume of over USD 2 trillion. ZuluTrade 2.0 Future plans include launching a more engaging social investing platform with enhanced social and technology features, built on ZuluTrade’s curre

Ipsen Nominates Karen Witts as New Independent Board Member21.1.2022 07:00:00 CET | Press release

Regulatory News: This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220120006035/en/ Karen Witts (Photo: Business Wire) Ipsen (Euronext: IPN; ADR: IPSEY) announced today the nomination of Karen Witts to its Board of Directors as independent member. Karen Witts was Group CFO at Compass Group Plc until October 2021. Compass is the world’s leading food service company, operating in 43 countries and employing more than 500k people. She was responsible for corporate strategy and planning, business performance management and reporting, financial reporting and control, tax and treasury activities, M&A, internal audit and enterprise risk management, investor relations, and led the digital and technology function. Prior to this, Karen was Group CFO at Kingfisher Plc, the international home improvement company. She has also held various senior strategic finance positions at companies including Vodafone Group Services Ltd, and BT Plc. She

Peru Is Presenting Itself at FITUR 2022 as a Bio-safe Destination, Committed to Outdoor Experiences21.1.2022 02:48:00 CET | Press release

Peru is in attendance at the 42nd edition of FITUR 2022 to position itself as a safe and ready destination for international travellers, motivating them to rediscover the South American country, reported the Comisión de Promoción del Perú para la Exportación y el Turismo [Peruvian Export and Tourism Promotion Commission] (PROMPERÚ). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220119005812/en/ Inauguration of the Peru stand at FITUR 2022 by the executive president of PROMPERÚ, Amora Carbajal. ©PROMPERÚ In line with its promotion and recovery strategy, Peru is presenting a delegation made up of 19 co-exhibitors in order to show off the best of its tourist offering in the nature, adventure and culture segments. Likewise, it announced its collaboration with the Asociación Española de Agencias de Incentivos – IdeMICE, in order to enhance the attributes of the destination in this segment. In addition, the executive president of

McAfee Continues to Provide Leading Online Protection to Consumers21.1.2022 02:40:00 CET | Press release

Today, McAfee Corp. (NASDAQ: MCFE, “McAfee”), a global leader in online protection, provided an update regarding its pure-play consumer offering and the previously announced divestiture of its enterprise business. In July 2021, McAfee completed the sale of its enterprise business. This transaction allowed McAfee to singularly focus on its consumer business and accelerate its strategy to be the leader in online protection for consumers. “McAfee continues to safeguard the privacy, security and identity of our consumers as the digital world evolves rapidly,” said Gagan Singh, Executive Vice President & Chief Revenue and Product Officer, McAfee. “We continue to stand firm that meaningful protection is a personal right for consumers and have recently rolled out major updates and industry firsts, including McAfee Total Protection and Protection Score, that look out for consumers online, including their privacy and identity.” The McAfee Enterprise business was purchased by Symphony Technology

Velodyne Lidar Named Finalist for 2022 SXSW Innovation Awards20.1.2022 22:30:00 CET | Press release

Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW) today announced its Intelligent Infrastructure Solution was selected as a finalist for the 24th annual SXSW Innovation Awards taking place March 14 during the South by Southwest® (SXSW®) Conference and Festivals. Velodyne’s smart city solution provides traffic monitoring and analytics to improve road safety, efficiency and air quality, and help cities plan for smarter, safer transportation systems. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220120005876/en/ Velodyne Lidar announced its Intelligent Infrastructure Solution was named a finalist for the 24th annual SXSW Innovation Awards at the South by Southwest® (SXSW®) Conference and Festivals. Velodyne’s smart city solution provides traffic monitoring and analytics to improve road safety, efficiency and air quality, and help cities plan for smarter, safer transportation systems. (Photo Credit: Velodyne Lidar) Velodyne’s Intellig

HCL Technologies Named Top Employer 2022 in 17 Countries Globally20.1.2022 20:00:00 CET | Press release

HCL Technologies (HCL), a leading global technology company, has been named a Top Employer in 17 countries by Top Employers Institute, a global authority in recognizing excellence in people practices. HCL emerged as a Top Employer, among some of the world’s largest and best-known enterprises, based on its dedication to fostering employee growth while continuing to drive value for clients around the globe. HCL has been awarded this status in Australia, Brazil, Canada, France, Germany, Guatemala, Malaysia, Mexico, the Netherlands, New Zealand, the Philippines, Poland, Singapore, South Africa, Sweden, the United Kingdom and the United States. Recognized for the sixteenth time in a row in the United Kingdom, HCL is also ranked first in Poland, Sweden and the Philippines. Each year, Top Employers Institute certifies organizations that are focused on putting their people first through their exceptional HR policies. The Top Employers Institute program certifies organizations based on the part

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom