Company: AIRJW
Filing Date: 2025-03-27
Form Type: S-1
Source: 0001013762-25-002897
Chunk: 102

Company: AirJoule Technologies Corp.
Filing Date: 2025-03-27
Form: S-1
Chunk 102
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 sales. We are party to a joint development agreement, dated as of September 27, 2022, with BASF for the production of engineered super -porousMOF materials to our specifications that are applied as a coating to AirJoule contactors to perform the energy and water -harvesting 59 function (the “Joint Development Agreement”). In 2024, BASF produced our proprietary MOF for our prototypes as part of pilot production, and we believe BASF is positioned to scale its production for mass production of our MOF materials. Pursuant to the terms of the Joint Development Agreement, for as long as BASF is able and willing to supply MOF materials developed under the Joint Development Agreement with a competitive performance profile at a competitive price, we are required to procure all of our MOF materials exclusively from BASF during the term of the Joint Development Agreement and for at least ten years thereafter. In the event that commercial dealings between us and BASF are discontinued, and we instead utilize third -partymanufacturers to produce the MOF materials, we will be required to pay BASF a license fee based on MOF quantities manufactured if the third -partyutilizes intellectual property that is jointly owned by us and BASF. The Joint Development Agreement has a three -yearterm that ends on September 27, 2025. CATL US Joint Venture.On October 27, 2021, we entered into a joint venture agreement with CATL US, pursuant to which we and CATL US formed CAMT. We and CATL US both own 50% of CAMT’s issued and outstanding shares. CAMT is managed by a four -memberboard of directors, with two directors designated by CATL US and two directors designated by us. Under the joint venture agreement, as revised, CAMT has the exclusive right to commercialize our AirJoule technology in Europe and Asia. Pursuant to the amended and restated joint venture agreement, entered into on September 29, 2023, we and CATL US have each agreed to contribute $6.0 million to CAMT. Contributions may be called once a business plan and operating budget is set by CAMT’s board of directors, but no action to establish a business plan or operating budget has occurred to date. Therefore, through December 31, 2024, neither we nor CATL US have funded CAMT. Accordingly, our financial statements do not reflect any accounting for CAMT as no assets (including IP) or cash have