Company: AIRJW
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002263
Chunk: 143

Company: AirJoule Technologies Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1
Chunk 143
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required for new and existing projects. Management expects that future operating losses and negative operating cash flows may increase
from historical levels because of additional costs and expenses related to the development of its technology and the development of market
and strategic relationships with other businesses and customers.  

With the consummation of the Business Combination and Subscription
Agreements (as described above and in Note 4 – Recapitalization), we received gross proceeds of approximately $43.4 million
in the first quarter of 2024 and approximately $6.0 million in May 2024. Additionally, in June 2024, we received gross proceeds of approximately
$12.4 million from existing and new investors for 1,238,500 million shares of Class A common stock pursuant the June 2024 PIPE Subscription
Agreements entered into on June 5, 2024.

Our future capital requirements will depend on many factors, including
the timing and extent of spending to support the launch of our product and research and development efforts, the degree to which we are
successful in launching new business initiatives and the cost associated with these initiatives, and the growth of our business generally.
Pursuant to the A&R Joint Venture Agreement, we 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. We have also agreed to contribute up to an additional $90.0 million in capital contributions
to the AirJoule JV 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.

In order to finance these opportunities and associated costs, it is possible
that we would need to raise additional financing if the proceeds realized to date are insufficient to support our business needs. While
we believe that the proceeds realized to date will be sufficient to meet our currently contemplated business needs, management cannot
assure that this will be the case. If additional financing is required by us from outside sources, we may not be able to raise it on terms
acceptable to us or at all. If we are unable to raise additional capital on acceptable terms when needed, our product development business,
results of operations and financial condition would be materially and adversely affected.

Cash flows for the year ended December 31,
2024 and