AirJoule Technologies Announces $15 Million Investment Anchored by GE Vernova
Summary
Companies to collaborate on waste heat to water project for industrial activities such as data centers, power generation, and advanced manufacturingRonan, MT, April 24, 2025 AirJoule Technologies Corporation (NASDAQ: AIRJ) (AirJoule Technologies or the Company), today announced that it has entered into subscription agreements to issue approximately $15 million in common stock in a private placement to GE Vernova and other investors (the PIPE) to accelerate commercialization of the transformational AirJoule\xae system for separating pure water from air. Both GE Vernovas investment into the Company, as well as the ongoing technical collaboration between the AirJoule JV and the GE Vernova Advanced Research Center to develop advanced sorbents, refine key components, and optimize system performance, highlight the teams dedication to commercializing the AirJoule\xae system.Titan Partners Group, a division of American Capital Partners, is acting as lead placement agent for the PIPE, with Marathon Capital acting as co-placement agent.AirJoule Technologies and GE Vernova Commence Strategic Project on Waste Heat to WaterAs AirJoule Technologies recently announced, AirJoule\xae can utilize low-grade waste heat to produce pure distilled water with market-leading energetics of below 160 watt-hours per liter. The project will examine AirJoule\xaes capability to convert low-grade waste heat into pure distilled water with GE Vernovas technology and product offerings and establish performance across a range of environmental conditions. Together, the joint venture leverages our expertise in advanced sorbents and AirJoule Technologies proprietary system to solve fundamental global challenges at the nexus of energy and water.The shares of common stock being issued and sold in the private placement have not been registered under the Securities Act of 1933, as amended, or applicable state securities laws and may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements. Designed to reduce energy consumption and generate material cost efficiencies, AirJoule\xae is being commercialized through a joint venture with GE Vernova and through partnerships with Carrier Global Corporation and BASF.