CleanJoule Secures $50M From Aviation Giants and Climate Investors to Scale Sustainable Fuel Technology

The sustainable aviation fuel (SAF) sector just got a major shot in the arm. CleanJoule, a Salt Lake City-based startup developing cost-effective SAF production technology, has closed a $50 million funding round backed by an impressive consortium of investors.

Who’s Backing This Bet?

The capital injection led by Indigo Partners—a major private equity player with stakes in multiple airlines—signals serious confidence in CleanJoule’s approach. But here’s what makes this deal interesting: the backing extends far beyond traditional venture capital. GenZero (Temasek’s decarbonization-focused platform), Cleanhill Partners, and three airlines themselves—Frontier Airlines, Wizz Air, and Volaris—are all in.

When airlines put their own money into a fuel technology, you know they believe in it.

Why This Matters for Aviation

Aviation remains one of the hardest sectors to decarbonize. According to the International Air Transport Association, SAF could theoretically account for up to 65% of the emissions reductions the aviation industry needs to hit net zero by 2050. That’s massive. The problem? Supply and cost have been major bottlenecks.

CleanJoule’s technology converts agricultural residues and waste biomass into high-performance SAF with better efficiency than many competing approaches. The company claims its manufacturing process offers high feedstock flexibility and significant decarbonization potential—all while improving cost dynamics.

Immediate Real-World Impact

This isn’t just capital for R&D. As part of the deal, Frontier Airlines, Wizz Air, and Volaris have signed binding commitments to purchase up to 90 million gallons of SAF from CleanJoule. That’s production volume, not promises.

Indigo Partners also secured a board seat at CleanJoule, giving them direct influence over the company’s strategy as it scales toward commercialization.

The Bigger Picture

What’s driving all this investment enthusiasm? The economics are shifting. Decarbonization isn’t just an ESG checkbox anymore—it’s becoming a business necessity. Airlines face increasing regulatory pressure and customer demand. Investors see energy transition as where returns will be in the next decade.

CleanJoule’s ability to use abundant, waste-based feedstock rather than competing with food production gives it a real advantage in the race to scale sustainable aviation fuel. The funding round essentially removes one of the major excuses holding back SAF adoption: “It’s too expensive to build at scale.”

With this capital backing and airline purchase commitments in place, CleanJoule moves from startup curiosity to credible player in the aviation decarbonization puzzle.