Company: AIRJW
Filing Date: 2025-05-05
Form Type: 424B3
Source: 0001213900-25-039770
Chunk: 206

Company: AirJoule Technologies Corp.
Filing Date: 2025-05-05
Form: 424B3
Chunk 206
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 solely for the purposes specified therein, GE Vernova
LLC, a Delaware limited liability company (“GE Vernova Parent”), pursuant to which Legacy Montana and GE Vernova agreed, subject
to the terms and conditions of the Framework Agreement, including certain closing conditions specified therein, to form a joint venture
in which each of Legacy Montana and GE Vernova will hold a 50% interest. The purpose of the AirJoule JV is to incorporate GE Vernova’s
proprietary sorbent materials into systems that utilize the Company’s AirJoule water capture technology and to manufacture and bring
products incorporating the combined technologies to market in the Americas, Africa and Australia.

Upon the closing of the transaction on March 4,
2024, (the “JV Closing”), each party to the agreement entered into (i) an amended and restated limited liability company
agreement of the AirJoule JV (the “A&R Joint Venture Agreement”), pursuant to which, among other things, the AirJoule
JV has the exclusive right to manufacture and supply products incorporating the combined technologies to leading original equipment manufacturers
and customers in the Americas, Africa and Australia, (ii) master services agreements, pursuant to which, among other things, each
party to the agreement agree to provide certain agreed services to the AirJoule JV for a period of at least two years following the
JV Closing (unless earlier terminated by the parties thereto) and (iii) an intellectual property agreement, pursuant to which, among
other things, each of the Company and GE Vernova Parent license certain intellectual property to the AirJoule JV.

Pursuant to the A&R Joint Venture Agreement,
the Company contributed $10.0 million in cash to the AirJoule JV at the JV Closing and in June 2024, GE Vernova contributed
$100 to the AirJoule JV. The Company has also agreed to contribute up to an additional $90.0 million in capital contributions
to the AirJoule JV following the JV Closing based on a business plan and annual operating budgets to be agreed between the Company and
GE Vernova. In general, for the first six years, GE Vernova has the right, but not the obligation, to make capital contributions
to the AirJoule JV. Until GE Vernova elects to participate and contributes its pro-rata share of all past capital contributions and
commits to contribute its pro-rata share for all future capital contributions, the