The investment round was led by the principals of U.S. private equity firm Indigo Partners and included participation by Wizz Air peers Frontier Airlines and Volaris, in addition to other investors.
The funds will support the further development of CleanJoule's technology to produce SAF from agricultural residues and other waste biomass more cost-effectively.
As part of the consortium's investment, Wizz Air, Frontier Airlines and Volaris have signed binding agreements to purchase up to 90 million gallons of SAF.
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