American Airlines commits to conditional purchase of 100 ZeroAvia hydrogen powered engines, increases investment in hydrogen electric innovator

Fort Worth, Texas, and Everett, Washington; July 2, 2024 American Airlines today announced that it has entered into a conditional purchase agreement with clean aviation innovator ZeroAvia for 100 hydrogen-electric engines intended to power regional jet aircraft with zero inflight emissions save for water vapor.

In addition, American has increased its investment in ZeroAvia. American made its first investment in ZeroAvia in 2022 and has also now participated in the company's Series C financing round. The engine agreement follows the Memorandum of Understanding the companies announced in 2022.

ZeroAvia is developing hydrogen-electric (fuel cell-powered) engines for commercial aircraft, which offer the potential for close to zero inflight emissions. The company is flight testing a prototype for a 20-seat plane and designing an engine for larger aircraft such as the Bombardier CRJ700, which American operates on certain regional routes.

The investment and conditional commitment to purchase novel engine technology contributes to American's aggressive goal to achieve net-zero greenhouse gas emissions by 2050. In recent years, American has undertaken the most extensive fleet renewal effort in the history of commercial aviation, which currently gives it the youngest mainline fleet of any major U.S. network carrier and improves fuel efficiency. American has made industry-leading investments in sustainability, including finalizing an offtake agreement with Infinium, a producer of next-generation low-carbon sustainable aviation fuel, and becoming the first customer of Graphyte's innovative and permanent carbon removal process.

ZeroAvia's hydrogen-electric engines use hydrogen in fuel cells to generate electricity, which is then used to power electric motors to turn the aircraft's propellers. The only inflight emission is low-temperature water vapor, and the lower intensity electrical systems have the potential to offer significant cost savings.

About American Airlines Group
To Care for People on Life's Journey®. Shares of American Airlines Group Inc. trade on Nasdaq under the ticker symbol AAL and the company's stock is included in the S&P 500. Learn more about what's happening at American by visiting news.aa.com and connect with American @AmericanAir and at Facebook.com/AmericanAirlines.

About ZeroAvia
ZeroAvia is working to deliver the clean future of flight for the entirety of aviation by enabling electric propulsion. With a primary focus on developing hydrogen-electric (fuel cell-powered) engines, ZeroAvia has submitted its first powertrain for up to 20 seat planes for certification with a target of the end of 2025 and is working on a larger powertrain for 40-80 seat aircraft by 2027. Founded in California and now with thriving teams in Everett, WA and the United Kingdom, ZeroAvia has secured experimental certificates to test its engines in three separate testbed aircraft with the FAA and CAA and passed significant flight test milestones. The company has signed a number of key engineering partnerships with major aircraft OEMs and has nearly 2,000 pre-orders for engines from a number of the major global airlines, with future revenue potential over $10bn. For more, please visit ZeroAvia.com, follow @ZeroAvia on Facebook, Twitter/X, Instagram, LinkedIn, and YouTube.

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Press Contacts:

ZeroAvia
[email protected]

American Airlines
[email protected]