Cleveland Browns Owner Backs New Initiative to Cut Heavy Industry Emissions
Jimmy Haslam, the former owner of Pilot is putting $725 million toward decarbonizing natural gas plants, biofuels and power distribution.
Cleveland Browns owner Jimmy Haslam.
Photographer: Jason Miller/Getty ImagesCleveland Browns owner Jimmy Haslam’s family office HF Capital LLC has committed $725 million to help launch an initiative aimed at decarbonizing heavy industry, it announced Monday.
The money will be managed by private equity firm Ara Partners, which has appointed Shameek Konar to lead the new effort. It will target investments in power generation, biofuels for the marine shipping industry and other sectors, and energy supply and distribution businesses. It has a goal of reducing 50 million tons of greenhouse gas emissions over the lifetime of the fund, according to Konar.