Company: AIRJW
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002263
Chunk: 144

Company: AirJoule Technologies Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1
Chunk 144
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 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 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 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