Company: AIRJW
Filing Date: 2025-05-05
Form Type: 424B3
Source: 0001213900-25-039770
Chunk: 8

Company: AirJoule Technologies Corp.
Filing Date: 2025-05-05
Form: 424B3
Chunk 8
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 dehumidified air — two key inputs for a variety of industrial activities, including data centers
and advanced manufacturing. In HVAC applications, our AirJoule technology is designed to reduce energy consumption, minimize or even eliminate
the use of environmentally-harmful refrigerants, and generate material cost efficiencies for air conditioning systems. We are focused
on commercialization and scaling manufacturing of our AirJoule systems through our global partnerships, including with GE Ventures LLC
(“GE Vernova”) and Carrier Global Corporation (“Carrier”), and we believe that deploying AirJoule units worldwide
can help to improve water security and reduce global emissions. We plan to manufacture AirJoule units capable of producing 1,000 liters
per day in 2025, which we intend to use for customer demonstrations, and we expect to scale capacities for commercial sales in 2026.

Company Background

Our Predecessor, established in 2018, worked closely
with researchers at the Pacific Northwest National Laboratory (“PNNL”) to develop enhancements to its self-regenerating pressure
swing dehumidifier technology. In 2020, the Predecessor executed a strategic project partnership agreement with PNNL, and in 2021, obtained
an exclusive worldwide license from PNNL with respect to the technology. Our Predecessor then spent several years developing the
pressure swing technology, securing additional intellectual property protection, producing multiple prototypes, and assembling partnerships
with leading global companies including GE Vernova and Carrier. See “Business — Our Competitive Strengths — Our Partners.” In June 2023, we entered into an Agreement and Plan of Merger (“the Merger Agreement”) with the
Predecessor, which was consummated through a Business Combination on March 14, 2024. In connection with closing the Business Combination,
we changed our name from Power & Digital Infrastructure Acquisition II Corp. to Montana Technologies Corporation. In November 2024,
to better align our name with our business operations and proprietary technology, we changed our name from Montana Technologies Corporation
to AirJoule Technologies Corporation, and our wholly owned subsidiary changed its name from Montana Technologies LLC to AirJoule Technologies
LLC.

The Committed Equity Financing

On March 25, 2025, we entered into the Purchase
Agreement and a related registration rights agreement, dated as of March 25, 2025 (the “Registration Rights Agreement”), with
B. Riley Principal Capital II. Upon the terms and subject to