Company: AIRJW
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002263
Chunk: 102

Company: AirJoule Technologies Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1
Chunk 102
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Report on Form 10-K unless expressly noted. Our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K
and any amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act are available on our website,
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Item 1A. Risk Factors

Risks Related to Our Business, Our Technology and Our Industry

We have incurred significant losses since inception, we expect
to incur losses in the future, and we may not be able to achieve or maintain profitability.

We are an early-stage water harvesting technology company with a history
of losses. We have incurred a net income (loss) of $215.7 million and $(11.4) million for the years ended December 31, 2024 and 2023,
respectively. Although our predecessor entity was established in 2018, we did not develop our first prototype of the AirJoule unit until
June 2021, and we have not yet begun commercializing our AirJoule units. We expect that we will continue to incur losses in future periods
as we:

●design, develop, market, commercialize and begin to sell AirJoule units;

●continue to utilize and develop potential new relationships with third-party partners for supply and manufacturing;

●build up inventories of parts and components for AirJoule units;

●expand our design, development, installation and servicing capabilities;

●further develop our proprietary technology;

●develop our distribution network;

●increase our general and administrative functions to support our growing operations; and

●expand our production and testing facilities to enhance our efficiency and capabilities for assembly of AirJoule units.

10

Because we will incur the costs and expenses from these efforts before
we receive any incremental revenues with respect thereto, our losses in future periods could be significant. In addition, we may find
that these efforts are more expensive than we currently anticipate or that these efforts may not