Cleanhill Partners Announces Partnership with CleanJoule to Drive Growth of Sustainable Aviation Fuel
1.11.2021 17:00:00 EET | Business Wire | Press release
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211101005195/en/
Contact information
Media Relations
Hannah Arnold, The LAKPR Group
harnold@lakpr.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
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
AI Meets Traditional Culture: Huangshan Captures Widespread Attention at ITB Berlin7.3.2026 11:22:00 EET | Press release
Huangshan, one of China’s most iconic scenic destinations, drew significant attention at this year’s ITB by presenting a compelling fusion of traditional Chinese culture and cutting-edge artificial intelligence under the slogan “The world of Huangshan is for the world.” This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260307909978/en/ International visitor admires Huangshan cultural and creative exhibits at the Huangshan stand during ITB Berlin. Located in eastern China’s Anhui Province, Huangshan is famed for its “Five Natural Wonders” — fantastic pines, grotesque rocks, sea of clouds, hot spring and winter snow. The mountain is widely regarded as one of China’s greatest mountain landscapes. It is also a rare natural heritage site that simultaneously holds multiple international designations, including UNESCO World Cultural and Natural Heritage status, a UNESCO Global Geopark and a World Biosphere Reserve. At ITB, the Huangsh
Incyte Announces the European Commission Approval of Zynyz ® (retifanlimab) for the First-Line Treatment of Advanced Squamous Cell Carcinoma of the Anal Canal (SCAC)6.3.2026 23:42:00 EET | Press release
Incyte (Nasdaq:INCY) today announced that the European Commission (EC) has approved Zynyz® (retifanlimab) in combination with carboplatin and paclitaxel (platinum-based chemotherapy) for the first-line treatment of adult patients with metastatic or with inoperable locally recurrent squamous cell carcinoma of the anal canal (SCAC). “The EC approval of Zynyz marks an important step forward for patients with advanced SCAC, a rare cancer for which meaningful treatment advances have not occurred in several decades,” said Bill Meury, President and Chief Executive Officer, Incyte. “As the first PD-1 immunotherapy approved in Europe in combination with platinum-based chemotherapy in the first-line setting, Zynyz helps expand the standard-of-care options available to clinicians and underscores our commitment to delivering innovative medicines that can have an impact for patients.” The EC decision follows the January 2026 positive opinion received from the European Medicines Agency’s Committee f
Dfns Launches Payouts6.3.2026 22:27:00 EET | Press release
Dfns today announced the launch of Payouts, a new API enabling institutions to convert stablecoins to fiat and route payouts across multiple bank accounts while keeping wallet-level governance and controls in place. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260305327930/en/ Convert stablecoins to fiat and settle payouts to bank accounts in 94 countries, today. Solving the problem of single-rail off-ramps Today, most fintechs and institutions still hard-wire a single payout provider into their stack, or rely on vertically integrated models that bundle routing, pricing, custody, and settlement together. That approach may be convenient early on, but it creates structural problems at scale: weak price discovery because there is no competitive pressure on margins, limited auditability because routing decisions are opaque, and operational fragility because a single provider degradation in any corridor requires architectural i
Klarna Group Plc Clarifies Mechanics of March 9 Lock-Up Expiration6.3.2026 21:23:00 EET | Press release
Klarna Group plc (NYSE: KLAR) today issues the following clarification to ensure investors and market participants have accurate information regarding the mechanics of its lock-up expiration on March 9, 2026, the processes required before pre-IPO shares can be traded on the NYSE, and the prior liquidity opportunities already available to shareholders. This release contains only factual descriptions of the Company's share structure and applicable processes. It does not constitute guidance or a projection of any kind regarding future trading volumes, share price, or the intentions of any shareholder and speaks only as of the date of this press release. 1. 335 million locked-up shares — but two different categories Of the 378 million total ordinary shares outstanding, approximately 335 million are subject to lock-up restrictions expiring March 9, 2026. However, these shares fall into two distinct categories governed by separate sets of regulations. A. 159 million shares (48% of locked-up
Lone Star Funds Announces Agreement to Acquire the Capsules & Health Ingredients Division of Lonza Group AG6.3.2026 19:30:00 EET | Press release
Lone Star Funds (“Lone Star”) today announced that an affiliate of Lone Star Fund XII, L.P. has entered into a definitive agreement to acquire the Capsules & Health Ingredients (“CHI”) division of Lonza Group AG. As part of the transaction, Lonza will retain a 40% equity position in the business. Headquartered in Basel, Switzerland, CHI operates globally across the Americas, Europe and Asia Pacific. The business comprises three segments: Hard Empty Capsules: leading global manufacturer of gelatin and plant-based capsules offering a broad range of innovative solutions for pharmaceutical and nutraceutical customers. Dosage Form Solutions: end-to-end development and manufacturing platform serving nutraceutical and pharmaceutical customers. Health Ingredients: provider of branded, science-backed nutrition ingredients serving joint health, energy and active lifestyle markets. Lone Star believes CHI is a high-quality, globally recognized platform with strong technical capabilities, different
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