Company: AIRJW
Filing Date: 2025-05-05
Form Type: 424B3
Source: 0001213900-25-039770
Chunk: 91

Company: AirJoule Technologies Corp.
Filing Date: 2025-05-05
Form: 424B3
Chunk 91
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Pursuant to the Amended and Restated Joint Venture
Agreement for CAMT, entered into on September 29, 2023, our Predecessor and CATL US have each agreed to contribute $6.0 million
to CAMT. Contributions will be requested by CAMT once a business plan and operating budget is set by CAMT’s board of directors.
No action to establish a business plan or operating budget has occurred to date. Any additional financing beyond the initial $12.0 million
(i.e., $6.0 million from each of the Predecessor and CATL US) will be subject to the prior mutual agreement of the Predecessor and
CATL US. CAMT is managed by a four-member board of directors, with two directors (including the chairman) designated by CATL US and
two directors (including the vice chairman) designated by the Predecessor.

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In the event of an equal vote, the chairman may
cast the deciding vote. Certain reserved matters, including debt issuances exceeding $5.0 million in a single transaction or in aggregate
within a fiscal year, amendments to CAMT’s constitutional documents the annual financial budget of CAMT, and any transaction between
CAMT and CATL US or the Predecessor in an amount exceeding $10.0 million in a single transaction or in aggregate within a fiscal
year, require the unanimous vote of both CATL US and the Predecessor or all directors. As of December 31, 2024, we have not funded
this joint venture or contributed any assets to the joint venture.

The purpose of our Predecessor’s joint venture
with CATL US is to commercialize our AirJoule technology in Asia and Europe and, pursuant to the Amended and Restated Joint Venture Agreement
for CAMT, CAMT has the exclusive right to commercialize AirJoule technology in those territories. Subject to the oversight of CAMT’s
board, CATL US is responsible for managing the day-to-day operations of CAMT (including the nomination and replacement of the Chief
Executive Officer of CAMT), and is responsible for providing CAMT and any subsidiaries formed by CAMT with, among other things, administrative
services, supply chain support, assistance in obtaining required permits and approvals and assistance in purchasing or leasing land and
equipment.

Critical Accounting Estimates

Management’s discussion and analysis of
our financial condition and results of operations is based on our consolidated