15-Jun-2023 12:44 PM

Volaris joins CleanJoule SAF production investment consortium

Volaris announced (14-Jun-2023) a USD50 million investment agreement alongside Indigo Partners, GenZero, Cleanhill Partners, Frontier Airlines and Wizz Air to accelerate the production of sustainable aviation fuel (SAF) through the CleanJoule startup. CleanJoule will use the investment to develop its technology for producing SAF from agricultural waste and organic residues. As part of the consortium's investment, Volaris, Frontier Airlines and Wizz Air agreed to acquire 90 million gallons of SAF, with Volaris to receive 30 million gallons. Volaris president and CEO Enrique Beltranena said: "The development of sustainable fuel has made significant progress but still faces challenges, such as achieving competitive and cost-effective production volumes, especially for airlines operating under the low-cost model. That is why joining this investment is crucial to ensure the viability of our model and the sustainability of our business". [more - original PR]

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