Company: AIRJW
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002263
Chunk: 94

Company: AirJoule Technologies Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1
Chunk 94
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to market in the Americas, Africa, and Australia.

Upon the JV closing, each party to the Framework Agreement entered
into (i) the A&R Joint Venture Agreement, pursuant to which, among other things, the AirJoule JV has the exclusive right to manufacture
and supply products incorporating the combined technologies to leading original equipment manufacturers and customers in the Americas,
Africa and Australia, (ii) master services agreements, pursuant to which, among other things, each party to the agreement agreed to provide
certain agreed services to the AirJoule JV for a period of at least two years following the JV closing (unless earlier terminated by the
parties thereto) and (iii) an intellectual property agreement, pursuant to which, among other things, each of the we and GE Vernova Parent
agreed to license certain intellectual property to the AirJoule JV. In addition, pursuant to the A&R Joint Venture Agreement, we contributed
$10.0 million to the AirJoule JV at the JV closing and expected to contribute additional capital to the AirJoule JV based on a business
plan and annual operating budgets to be agreed between us and GE Vernova.

Pursuant to the A&R Joint Venture Agreement, we have agreed to
contribute up to an additional $90.0 million in capital contributions to the AirJoule JV following the JV closing based on a business
plan and annual operating budgets to be agreed between us 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. Until GE Vernova elects to participate and contributes its pro-rata share
of all past capital contributions and commits to contribute its pro-rata share for all future capital contributions (the “GE
Match Date”), we shall be solely responsible for funding the AirJoule JV, and we shall have a distribution preference under the
A&R Joint Venture Agreement for the amount of its post-closing capital contributions plus a 9.50% preferred return on such amounts.

Our Patents

We hold and license foundational patent applications relating to atmospheric
latent energy and water harvesting that uniquely position us to capture and drive a meaningful amount of the growth in the rapidly developing
atmospheric water harvesting sector. In the first quarter of 2021, we obtained an exclusive worldwide license from PNNL with respect to
the self-regenerating de