American Airlines Makes Equity Investment in Universal Hydrogen

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Universal Hydrogen Team

Canada is the largest regional turboprop market in the world, which puts a responsibility on Canadian aviation companies such Avmax to identify and adopt the technologies that enable the country’s aviation industry to thrive while reducing environmental impact. One of those enabling technologies, it turns out, is green hydrogen-fueled flight.

On July 19, 2022, Avmax and Universal Hydrogen Co., the leader in hydrogen fuel services and aircraft conversions, announced that Avmax Aircraft Leasing Inc. placed a firm order to convert 20 regional aircraft to run on green hydrogen. Within this order, Avmax has the flexibility to select between Universal Hydrogen’s ATR 72-600 and Dash 8-300 conversion kits. Further, Universal Hydrogen will provide hydrogen fuel to power both Avmax’s leased and owned fleets. Avmax, a sizeable regional lessor, engineering house, MRO, and global aircraft operator, could also become a maintenance and MRO partner to Universal Hydrogen, given the company’s solid North American operating footprint and aircraft conversion capabilities.

“Rapidly curtailing our contribution to aviation’s carbon impact requires looking at how we operate our fleets. Universal Hydrogen’s regional conversion kits allow our existing and future fleet to run on green hydrogen, and Universal Hydrogen is simultaneously unlocking cost-competitive and scalable logistics for hydrogen fuel” – Scott Greig, SVP and head of Avmax Aircraft Leasing Inc.

“This order is an important step for Canada’s sizable regional aviation market, which is home to the largest turboprop fleet in the world with nearly 300 Dash-8s and 50 ATRs servicing over 120 airports,” said Paul Eremenko, co-founder and CEO of Universal Hydrogen. “As air travel volumes return to pre-pandemic levels, expansive nations like Canada are revitalizing regional routes to reconnect communities and spur economic activity. We’re excited to collaborate with Avmax to bring hydrogen to Canadian skies.”

“Rapidly curtailing our contribution to aviation’s carbon impact requires looking at how we operate our fleets. Universal Hydrogen’s regional conversion kits allow our existing and future fleet to run on green hydrogen. Universal Hydrogen is simultaneously unlocking cost-competitive and scalable logistics for hydrogen fuel,” says Scott Greig, SVP and head of Avmax Aircraft Leasing Inc. “Offering our customers true-zero-emissions products and services sets us apart, and we hope to see other airlines in Canada follow suit. We see green hydrogen as the only solution to fully decarbonizing the industry, and we’re thrilled Universal Hydrogen started its work by tackling regional aircraft solutions.

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