In Texas, Ara Partners announced a collaboration with HF Capital, the investment arm of Jimmy Haslam’s family office which has committed up to $725 million, to launch Ara Energy Decarbonization, aimed at reducing emissions in North America’s energy sector by enhancing operations at ethanol and natural gas plants. Ara Energy Decarbonization will be led by Shameek Konar.
Haslam, owner of the Cleveland Browns, is also known for his role as the former CEO of Pilot Flying J. “We are proud to partner with and make a significant capital commitment behind Ara, Shameek, and his team of talented colleagues leading this new strategy,” said Haslam. “Shameek succeeded me as CEO of Pilot in 2020 and did an exceptional job leading, growing, and optimizing the business until its sale earlier this year.”
During his tenure as Pilot’s CEO, Konar also led the industry with an innovative partnership with General Motors, developing a nationwide network of DC fast chargers at Pilot locations with the aim of reducing “range anxiety” for EV owners.
This initiative builds on HF Capital’s portfolio of traditional and renewable energy firms such as Silicon Ranch and RNG producer Arizona DF Renewables.
Tags: Ara Partners, HF Capital, Texas
Category: Fuels
