Barber-Nichols, A Graham Corporation Company, Supplied Critical Turbomachinery Components for Universal Hydrogen’s Fuel Cell Powered Aircraft

Rhea-AI Summary

Graham Corporation's subsidiary, Barber-Nichols, supplied ethylene glycol water pumps to Universal Hydrogen for its hydrogen fuel cell powered aircraft.

Positive

• Barber-Nichols' collaboration with Universal Hydrogen demonstrates their ability to meet complex technical needs.
• Universal Hydrogen achieved ten successful test flights and received its G-1 Issue Paper from the FAA.
• Hydrogen as a clean fuel is gaining traction in aerospace and transportation markets.
• Graham Corporation plans to leverage its expertise in turbomachinery equipment to capture more opportunities in this growing market segment.

Negative

• None.

BATAVIA, N.Y.--(BUSINESS WIRE)-- Graham Corporation (NYSE: GHM) (“GHM” or the “Company”), a global leader in the design and manufacture of mission critical fluid, power, heat transfer, and vacuum technologies for the defense, space, energy, and process industries, today announced that its wholly owned subsidiary, Barber-Nichols, supplied ethylene glycol water pumps to Universal Hydrogen for its Dash 8 turboprop, deemed to be the world’s largest hydrogen fuel cell powered aircraft.

Matt Malone, VP and General Manager – Barber-Nichols, commented, “We are proud to have been instrumental in the success of Universal Hydrogen’s accomplishments in clean air travel. This project demonstrates Barber-Nichol’s ability to collaborate with our customers to meet their complex technical needs, utilizing our engineering and manufacturing expertise. Barber-Nichols wants to congratulate the Universal Hydrogen team on their successful flights and recent milestones.”

Universal Hydrogen has now achieved ten test flights as the company drives toward its goal of commercial entry into service in 2026. Universal Hydrogen also received its G-1 Issue Paper from Federal Aviation Administration (FAA), a milestone which is required to certify the airworthiness and environmental standards of hydrogen-powered aircraft.

Mr. Malone added, “Hydrogen as a clean, alternative fuel is gaining traction in aerospace and transportation, or the mobility market in general. We believe the engineering expertise we have demonstrated translates to many adjacent applications. We plan to leverage our expertise in high power, critical turbomachinery equipment that can operate in challenging environments to capture more opportunities in this growing market segment.”

About Graham Corporation
GHM is a global leader in the design and manufacture of mission critical fluid, power, heat transfer and vacuum technologies for the defense, space, energy, and process industries. The Graham Manufacturing and Barber-Nichols’ global brands are built upon world-renowned engineering expertise in vacuum and heat transfer, cryogenic pumps, and turbomachinery technologies, as well as its responsive and flexible service and the unsurpassed quality customers have come to expect from the Company’s products and systems.

Graham Corporation routinely posts news and other important information on its website, grahamcorp.com, where additional information on Graham Corporation and its businesses can be found.

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 directly to the airplane anywhere in the world. The company is targeting regional and narrowbody/single aisle airplanes as the near-term and most impactful decarbonization opportunities. Universal Hydrogen is also working to certify a powertrain conversion kit to retrofit existing regional aircraft to fly on hydrogen.

Safe Harbor Regarding Forward Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.

Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “believe,” “expects,” “anticipates,” “should,” ”may”, “will,” “plan” and other similar words. All statements addressing operating performance, events, or developments that Graham Corporation expects or anticipates will occur in the future, including but not limited to, its ability to secure new projects and the profitability of future projects and the business, and growth and opportunities in its markets, are forward-looking statements. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties are more fully described in Graham Corporation’s most recent Annual Report filed with the Securities and Exchange Commission (the “SEC”), included under the heading entitled “Risk Factors”, and in other reports filed with the SEC.

Should one or more of these risks or uncertainties materialize or should any of Graham Corporation’s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on Graham Corporation’s forward-looking statements. Except as required by law, Graham Corporation disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this news release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231019112429/en/

Christopher J. Thome

Vice President - Finance and CFO

Phone: (585) 343-2216

Deborah K. Pawlowski

Kei Advisors LLC

Phone: (716) 843-3908

dpawlowski@keiadvisors.com

Source: Graham Corporation

FAQ

What did Barber-Nichols supply to Universal Hydrogen?

Barber-Nichols supplied ethylene glycol water pumps to Universal Hydrogen for its hydrogen fuel cell powered aircraft.

How many test flights has Universal Hydrogen achieved?

Universal Hydrogen has achieved ten successful test flights.

What milestone did Universal Hydrogen recently reach?

Universal Hydrogen received its G-1 Issue Paper from the FAA.

What market is hydrogen gaining traction in?

Hydrogen is gaining traction in aerospace and transportation markets.

What are Graham Corporation's plans in the growing market segment?

Graham Corporation plans to leverage its expertise in turbomachinery equipment to capture more opportunities.