Company: AIRJW
Filing Date: 2025-05-05
Form Type: 424B3
Source: 0001213900-25-039770
Chunk: 90

Company: AirJoule Technologies Corp.
Filing Date: 2025-05-05
Form: 424B3
Chunk 90
---
 from Operating Activities

During the year ended December 31, 2024,
net cash used in operating activities was $24.3 million and primarily reflected our net income from operations and decreases in accounts
payable, accrued expenses and other liabilities.

During the year ended December 31, 2023,
net cash used in operating activities was $5.1 million and primarily reflected our net loss from operations offset by an increase
in accounts payable and accrued expenses and other liabilities.

Cash Flows from Investing Activities

During the year ended December 31, 2024,
net cash used in investing activities was $10.0 million as a result of the Company’s contribution made to AirJoule, LLC.

Cash Flows from Financing Activities

During the year ended December 31, 2024,
net cash provided by financing activities was $61.9 million and primarily related to proceeds from the issuance of the Predecessor
common stock related to private placements prior to the Business Combination, the exercise of stock options and warrants and the issuance
of common stock to PIPE investors.

During the year ended December 31, 2023,
minimal cash was provided by financing activities.

Contractual Obligations and Commitments

Royalties

In October 2021, we entered into a patent
license agreement with a third party whereby the third party granted us 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 August 14, 2040. In connection with this, we
agreed to a minimum royalty amount of which $0.3 million and $0.2 million was expensed for the year ended December 31,
2024 and 2023, respectively. At December 31, 2024 and December 31, 2023, $0.3 million and $0.2 million, respectively,
was accrued in the accompanying consolidated balance sheets.

Future minimum royalties for 2025 and each year
through the date the patents expire are $0.3 million.

Joint Venture Agreements

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. Under the joint venture agreement, as revised, CAMT has the exclusive right to commercialize our AirJoule technology
in Europe and Asia.