Universal Hydrogen and Elix Aviation Sign LOI to Advance the Decarbonization of Aviation
Universal Hydrogen acquires its first test aircraft from the aircraft leasing company
LOS ANGELES–(BUSINESS WIRE)–#aerospace—Universal Hydrogen, the company leading the fight to decarbonize aviation through the adoption of hydrogen as a universal fuel, today announced it has taken delivery of its first test aircraft, a Dash 8-300 from Elix Aviation Management Limited (“Elix”), a leading global regional aircraft leasing company. Elix has also signed a letter of intent (LOI) with Universal Hydrogen to acquire ten conversion kits for the current and future Elix leased fleet as the lessor brings new decarbonization technology to its customers.
Under the LOI, Elix is purchasing ten of Universal Hydrogen’s conversion kits for installation in its existing and future turboprop aircraft fleet. Universal Hydrogen has provided Elix flexibility to select any combination of the Dash 8-300 or ATR 72-500/600 conversion kits within this ten unit order.
“Collaborating with Universal Hydrogen is a continuation of our streak of innovation in the aviation leasing industry,” said John Moore, Chief Executive Officer of Elix Aviation. “Universal Hydrogen’s mission to decarbonize aviation enables Elix to provide this opportunity to our airline customers to contribute to reducing carbon emissions as our industry continues to grow.”
The two companies have agreed to collaborate on the marketing of Universal Hydrogen’s fuel service and logistics solution to Elix’s customers. In the face of rising hydrocarbon fuel costs, particularly with evermore prevalent carbon taxes and offset obligations, green hydrogen is expected to be cost-competitive with Jet-A1 fuel by 2025, with subsequent further declining costs.
“As our order book continues to grow across commercial and cargo airlines, lessors and others, we are also focused on a key objective for 2022—first flight,” says Paul Eremenko, co-founder and CEO of Universal Hydrogen. “With this agreement with Elix we have secured our first flight test aircraft, which we are already busy working to convert to run on hydrogen at our Moses Lake, Washington facility.”
About Universal Hydrogen
Universal Hydrogen is making hydrogen-powered commercial flight a near-term reality. The company takes a flexible, scalable, and capital-light approach to hydrogen logistics by transporting it in modular capsules over the existing freight network from green production sites to airports around the world. To accelerate market adoption, Universal Hydrogen is also developing a conversion kit to retrofit existing regional airplanes with a hydrogen-electric powertrain compatible with its modular capsule technology.
About Elix Aviation
Elix Aviation is a regional aircraft leasing platform established in 2013 to offer comprehensive asset management and leasing solutions to airlines, lenders, and investors in the regional aircraft market. Elix Aviation’s uniquely specialized platform is well positioned to retain and grow a market-leading presence in regional aircraft leasing and continue its streak of innovation and dedication to the sector. The platform is led by a management team with deep aviation expertise and a strong network of relationships across the industry.
Contacts
Media Contacts
Universal Hydrogen
Kate Gundry
Elix Aviation
John Moore
