Company: AIRJW
Filing Date: 2025-05-16
Form Type: POS AM
Source: 0001213900-25-044504
Chunk: 181

Company: AirJoule Technologies Corp.
Filing Date: 2025-05-16
Form: POS AM
Chunk 181
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 Company, as an early-stage business without
any current operations, product sales or revenue, has historically been dependent upon the sourcing of external capital to fund its overhead
and product development costs. This is a typical situation for any early-stage company without product sales to be in.

License Agreement

In October 2021, the Company entered into
a patent license agreement with a third party whereby the third party granted the Company rights to use certain of their patents in exchange
for an upfront payment and royalties based on a percentage of net sales until such patents expire. In connection with this, the Company
agreed to a minimum royalty amount of which $ million and $ million was accrued by the Company in the accompanying consolidated
balance sheets as of December 31, 2024 and December 31, 2023, respectively.

Future minimum royalties are as follows as of
December 31, 2024:

| 2025 and each year through the date the patents expire |     | 300,000 |

Joint Venture Agreement

On October 27, 2021, Legacy Montana entered
into a joint venture with CATL US Inc. (“CATL US”), an affiliate of CATL, pursuant to which we and CATL US formed CAMT Climate
Solutions Ltd., a limited liability company organized under the laws of Hong Kong (“CAMT”). Legacy Montana and CATL US
both own % of CAMT’s issued and outstanding shares. CAMT is managed by a four-member board of directors, with two directors designated
by CATL 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.

F-34 AIRJOULE TECHNOLOGIES CORPORATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Note 13 — COMMITMENTS AND CONTINGENCIES(cont.) Pursuant to the Amended and Restated Joint Venture Agreement for CAMT, entered into on September 29, 2023, Legacy Montana and CATL US have each agreed to contribute $ 6.0million to CAMT. Contributions will be requested by CAMT once a business plan and operating budget is set by CAMT’s board of directors. No action to establish a business plan or operating budget has occurred to date. Any additional financing beyond the initial $ 12.0million (i.e., $ 6.0million from each of Legacy Montana and CATL US) will be subject to the prior mutual agreement