Company: AIRJW
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002263
Chunk: 1465

Company: AirJoule Technologies Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 9B
Chunk 1465
---
 375,796  
     5,211,486 
  
    Cash, cash equivalents and restricted cash, end of the period 
    $28,021,748  
    $375,796 

    Supplemental non-cash investing and financing activities: 

    Initial recognition of True Up Shares liability 
    $555,000  
    $— 
  
    Initial recognition of Subject Vesting Shares liability 
    $11,792,000  
    $— 
  
    Initial recognition of ROU asset and operating lease liability 
    $172,649  
    $— 
  
    Liabilities combined in recapitalization, net 
    $8,680,477  
    $— 
  
    Contribution to AirJoule, LLC of license to technology 
    $333,500,000  
    $— 

    Supplemental cash flow information: 

    Taxes paid 
    $—  
    $— 

The accompanying notes are an integral part
of these consolidated financial statements.

F-6

AIRJOULE TECHNOLOGIES CORPORATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Note 1 — ORGANIZATION AND BUSINESS
OPERATIONS

We are a water harvesting technology company that produces pure distilled
water by harvesting the water vapor in the atmosphere. Our proprietary AirJoule system, once commercialized, will provide cost-effective
water to businesses and consumers around the world and help address growing concerns around water scarcity. Our system is especially valuable
for industrial users, which generate significant amounts of waste heat that can be utilized to produce pure distilled water and dehumidified
air – two key inputs for a variety of industrial activities, including data centers and advanced manufacturing. In HVAC applications,
our AirJoule technology is designed to reduce energy consumption, minimize or even eliminate the use of environmentally-harmful refrigerants,
and generate material cost efficiencies for air conditioning systems. We are focused on commercialization and scaling manufacturing of
our AirJoule systems through our global partnerships, including with GE Vernova and Carrier Global Corporation (“Carrier”),
and we believe that deploying AirJoule units worldwide can help to improve water security and reduce global emissions.

Power & Digital Infrastructure Acquisition II Corp (“XPDB”)
entered into an Agreement and Plan of Merger (the “Merger Agreement”), dated June 5, 2023, as amended on February 5, 2024,
with XPDB