Company: AIRJW
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002263
Chunk: 90

Company: AirJoule Technologies Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1
Chunk 90
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 in Newark,
Delaware. This facility has the capacity to support the expected volumes of preproduction units, as well as initial volumes of our commercial
units that we expect to deliver starting in 2026. Once we have visibility into customer demand and have received certain customer commitments,
we may choose expand our manufacturing capacity.

For HVAC applications, we are working with Carrier to integrate AirJoule
technology into air conditioning systems. Through our joint venture with GE Vernova, we intend to manufacture and sell to Carrier the
sorbent-coated contactors that are integral to AirJoule’s operation. The manufacturing facility in Newark, Delaware includes a coating
line where the contactors will be manufactured. We expect this facility to support our coated contactor requirements into 2026. As our
manufacturing output increases, we may choose to build a high volume manufacturing line for coated contactors or partner with industry
leading suppliers. We expect that Carrier will procure many of the other key AirJoule system components from its existing suppliers, who
may manufacture and sell these proprietary components pursuant to a licensing agreement.

Our Partners

We intend to elevate and grow our international partnerships to rapidly
and sustainably deploy AirJoule systems worldwide as a key solution to address global warming and water scarcity. We are collaborating
with experienced strategic partners such as PNNL, BASF (an international chemical producer) and CATL (an international lithium-ion electric
vehicle battery manufacturer), Carrier (a global provider of HVAC technology and equipment), and GE Vernova (a global provider of advanced
technologies and service for renewable energy, power generation, grid solutions, and decarbonization). All of our strategic partners are
committed to the continued development, commercialization, and distribution of AirJoule units. We anticipate that these partnerships will
enable us to rapidly scale to mass production, using a capital-efficient business model.

PNNL License. PNNL scientists originally conceived of and patented
the concept for a self-regenerating dehumidifier. In the first quarter of 2021, we obtained an exclusive worldwide license from PNNL with
respect to the self-regenerating dehumidifier technology. Since then, we have added our own significant advancements to the technology,
and we hold independent intellectual property relating to, among other things, heating, cooling and low-cost harvesting of potentially
potable water from the air. See “— Intellectual Property.”

4

BASF Commercial Agreements. According to Chemical & Engineering