Company: AIRJW
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002263
Chunk: 488

Company: AirJoule Technologies Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1C
Chunk 488
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 order to finance these opportunities and associated costs, it is possible
that we would need to raise additional financing if the proceeds realized to date are insufficient to support our business needs. While
we believe that the proceeds realized to date will be sufficient to meet our currently contemplated business needs, management cannot
assure that this will be the case. If additional financing is required by us from outside sources, we may not be able to raise it on terms
acceptable to us or at all. If we are unable to raise additional capital on acceptable terms when needed, our product development business,
results of operations and financial condition would be materially and adversely affected.

Cash flows for the year ended December 31,
2024 and 2023

The following table summarizes our cash flows from operating, investing
and financing activities for the year ended December 31, 2024 and 2023:

    Year ended December 31, 

    2024  
    2023 
  
    Net cash used in operating activities 
    $(24,261,446) 
    $(5,100,989)
  
    Net cash used in investing activities 
     (10,019,058) 
     — 
  
    Net cash provided by financing activities 
     61,926,456  
     265,299 
  
    Net increase (decrease) in cash and cash equivalents 
    $27,645,952  
    $(4,835,690)

Cash Flows 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.

30

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 Merger, the