American Invests In Universal Hydrogen - What's On The Cards? - American Airlines Gr (NASDAQ:AAL)

American Airlines Group Inc AAL has made a strategic equity investment in Universal Hydrogen Co, a company building a green hydrogen distribution and logistics network for aviation. The details of the investment were not disclosed.
The investment will help AAL's science-based targets to reduce greenhouse gas (GHG) emissions by 2035 and to achieve net zero GHG emissions by 2050.
In August, American invested in hydrogen-electric engine developer ZeroAvia.
Universal Hydrogen's fuel distribution network uses modular hydrogen capsules that are handled like cargo, eliminating the need for new fueling infrastructure at airports.
Universal Hydrogen anticipates starting hydrogen deliveries for regional aircraft in 2025, with plans to expand its services to larger, single-aisle aircraft, first for auxiliary power in the late-2020s and then as a primary fuel by the mid-2030s.
"This technology has the potential to be a game-changer on the industry's path to zero-emission flight," said CFO Derek Kerr.
Other investors in Universal Hydrogen include Airbus SE EADSF Airbus Ventures, General Electric Co GE GE Aviation, and Toyota Motor Corp TM Toyota Ventures.
Price Action: AAL shares are trading lower by 1.72% at $11.97 on the last check Monday.
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American Invests In Universal Hydrogen - What's On The Cards?