Universal Hydrogen gets investment from American Airlines

American Airlines Group Inc. AAL, -0.90% said Monday it’s investing an undisclosed sum in Universal Hydrogen Co., a two-year-old, California-based company building a hydrogen distribution and propulsion ecosystem for the aviation industry. Airbus Ventures, GE Aviation GE, +0.06% and Toyota Ventures are also investors in the company. Universal Hydrogen co-founder and CEO Paul Eremenko said the investment by American Airlines “is a strong signal that customers want a true zero-emissions solution for passenger aviation and are willing to back tangible, pragmatic steps to get there quickly.” Shares of American Airlines are down 32.2% in 2022 compared to a 23.6% loss by the S&P 500 SPX, -0.79%.