Wizz Air Participates in USD 50 mln Investment

Deals

Hungarian low-fare carrier Wizz Air this week said it has participated in a USD 50 million investment round in CleanJoule, a U.S.-based startup focused on the production of sustainable aviation fuel (SAF), according to azuzlet.hu.

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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