Company: AIRJW
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002263
Chunk: 136

Company: AirJoule Technologies Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1
Chunk 136
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 to deploy our technology; the dependence of our commercialization
strategy on our relationship with third parties; our history of losses; accuracy of assumptions underlying projections related to our
equity method goodwill impairment testing; and other risks and uncertainties described in our other SEC filings.

Unless the context otherwise requires, references in this “Management’s
Discussion and Analysis of Financial Condition and Results of Operations” to “we”, “us”, “our”,
and the “Company” are intended to refer to (i) following the Business Combination (as defined below), the business and operations
of AirJoule Technologies Corporation, formerly known as Montana Technologies Corporation and its consolidated subsidiaries, and (ii) prior
to the Business Combination, AirJoule Technologies LLC, formerly known as Montana Technologies LLC, or Predecessor, (the predecessor entity
in existence prior to the consummation of the Business Combination) and its consolidated subsidiaries.

Company Overview 

We are a water harvesting technology company that aims to provide energy
and cost-efficient water harvested from air. Our product, AirJoule, is a climate solution technology that harvests the water vapor in
the atmosphere and produces pure distilled water to improve water security and sustainability for businesses and consumers around the
world. AirJoule 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 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 with GE Vernova and Carrier , and
we believe that deploying AirJoule units worldwide can help to improve water security and reduce global emissions. We plan to manufacture
AirJoule units capable of producing 1,000 liters per day in 2025, which we intend to use for customer demonstrations, and we expect to
scale capacities for commercial sales in 2026.

Growth Strategy and Outlook

We anticipate significant growth opportunities by offering AirJoule
in global markets where demand for water, dehumidified air and cooling are highest. With our proprietary technology, we believe that we
are uniquely positioned to provide curated solutions that satisfy our customers’ needs and expectations in fast