Cleanhill Partners Announces Partnership with CleanJoule to Drive Growth of Sustainable Aviation Fuel
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
New Study Further Validates Environmental Benefits of Floor Refinishing Compared to Replacement12.11.2025 13:00:00 EET | Press release
A recent report and lifecycle assessment (LCA) conducted by IVL Swedish Environmental Research Institute confirms refinishing hard flooring surfaces, including wood, vinyl and linoleum, is more sustainable for the environment than replacing the flooring surfaces. This new study, which was conducted for the German market, is the next step of research inspired from a previous 2019 study conducted in Sweden. Both studies aim to evaluate the environmental impact of replacing a worn, damaged or outdated flooring surface compared to refinishing the flooring surface which may include sanding, finishing, staining, or painting. Bona, a global, family-owned company that supplies products for installing, renovating, maintaining, and restoring premium floors, commissioned this new study to build on the findings from a 2019 Swedish study. The new research focused on Germany, a market with a population eight times larger than Sweden, and analysed a 20 square metre scenario, reflecting a smaller, dom
PUMA Relaunches Company Magazine CATch UP to Showcase the Best of the Brand12.11.2025 11:00:00 EET | Press release
Sports company PUMA has relaunched its online company magazine CATch UP to provide journalists, investors, retailers, athletes and sports enthusiasts with a window into the world of PUMA and insights into the company’s new strategic priorities, as the brand starts its transformation journey. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251112815459/en/ Sports company PUMA has relaunched its online company magazine CATch UP to provide journalists, investors, retailers, athletes and sports enthusiasts with a window into the world of PUMA and insights into the company’s new strategic priorities, as the brand starts its transformation journey. The online magazine, which is available on puma-catchup.com, has received a thorough visual makeover and will focus on the stories that highlight the company’s innovations, sports, history, corporate culture and the strategic priorities that are being implemented to establish PUMA as a T
CWAN Report: Insurance Industry’s $2.7 Trillion Shift to Alternative Investments Creates Technology Gap12.11.2025 11:00:00 EET | Press release
Clearwater Analytics (NYSE: CWAN), the most comprehensive technology platform for investment management, today released industry research revealing that alternative investments have fundamentally transformed from a fringe strategy to a portfolio cornerstone, now comprising nearly one-third of the US insurance industry’s assets – representing approximately $2.7 trillion – as insurers abandon traditional portfolio strategies. Similar structural shifts are also emerging across the UK and continental Europe as insurers pursue diversification, yield and liability-matching under Solvency II and evolving capital rules. The report, “Are ‘Alternatives’ Still Alternative?”, combines industry-wide NAIC data with analysis of approximately 400 CWAN insurers representing $4.4 trillion in combined assets, including UK and European insurers on the CWAN platform, providing granular insight into alternative investment adoption patterns across the insurance sector. CWAN’s Key Data Findings Challenge Indu
INNIO to Power UK Grid Stability with Landmark Project Near London12.11.2025 10:00:00 EET | Press release
INNIO Group and Clarke Energy are helping to deliver one of the world’s largest high-speed gas engine peaking power plants in Thurrock, England. The two companies already signed a contract to this effect in 2024. The 450-MW flexible generation facility is being constructed by Statera Energy, a leading developer, owner, and operator of flexible energy assets. With full operations targeted for late 2026, it is expected to provide enough power for up to 1 million homes in Southeast England—helping to support the UK’s energy resilience strategy. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251112767813/en/ Thurrock Flexible Generation Project (c) Statera Energy As the UK transitions to renewables, grid stability is more critical than ever. The Thurrock Flexible Generation Project is designed to respond rapidly to fluctuations in supply and demand, ensuring reliable electricity during peak periods and when renewable output vari
Visa Direct Stablecoin Payouts Pilot Speeds Up Access to Funds for Creators & Gig Workers12.11.2025 10:00:00 EET | Press release
At Web Summit today, Visa Inc. (V) announced a breakthrough pilot allowing businesses and platforms to send payouts directly to recipients’ stablecoin wallets. For businesses using Visa Direct, payouts can be funded in fiat currency, while recipients can choose to receive their funds in USD-backed stablecoins like USDC, transforming the speed and accessibility of global payouts. This innovation expands the reach of Visa Direct by providing creators, freelancers, and marketplaces with a stable store of value and faster access to funds - even in markets facing currency volatility or limited banking infrastructure. “Launching stablecoin payouts is about enabling truly universal access to money in minutes - not days - for anyone, anywhere in the world,” said Chris Newkirk, President, Commercial & Money Movement Solutions, Visa. “Whether it’s a creator building a digital brand, a business reaching new global markets or a freelancer working across borders, everyone benefits from faster, more
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