Company: AIRJW
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002263
Chunk: 114

Company: AirJoule Technologies Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1
Chunk 114
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 Applicable Products and the viability of the commercialization of the Applicable Products. Despite entry into the
Binding Term Sheets, we and CAMT ultimately may not enter into definitive agreements with Carrier on terms consistent with the Binding
Term Sheets or at all.

15

We expect to be dependent on a limited number of customers
and end markets. A decline in revenue from, or the loss of, any significant customer, could have a material adverse effect on our financial
condition and operating results.

We are in the process of developing our technology and do not yet
have any customers. We expect to initially depend upon a small number of customers for a substantial portion of our future revenue.
Accordingly, a decline in revenue from, or the loss of, any significant customer could have a material adverse effect on our
financial condition and operating results. We cannot assure you that prospective customers will ultimately utilize our products and
services or enter into contracts with us for such products and services on acceptable terms or at all.

There can also be no assurance that our efforts to secure new customers,
including through acquisitions, will succeed in reducing our customer concentration. Acquisitions are also subject to integration risk,
and revenues and margins could be lower than we anticipate. Failure to secure business from new customers in any of our end markets would
adversely impact our operating results.

Our long-term success depends, in part, on our ability to negotiate
and enter into sales agreements with, and deliver our products to, customers on commercially viable terms. There can be no assurance that
we will be successful in securing such agreements.

Our success depends, in part, on our ability to acquire and retain
new customers and to do so in a cost-effective manner. In order to obtain and expand our customer base, we must appeal to, acquire and
enter into sales agreements with third-party customers on commercially viable terms, either directly or through third-party distributors.
We expect to make significant investments related to customer acquisition in the future. If we fail to deliver and market a robust product
that appeals to customers, or if customers do not perceive AirJoule units to be of high value and quality, we may be unable to acquire
or retain customers. If we are unable to acquire or retain customers sufficient to grow our business, we may be unable to generate the
scale necessary to achieve operational efficiency. Consequently, our prices may increase or may not decrease to levels sufficient to
generate customer interest, and total revenue may decrease and margins and profitability may decline. As a result,