- Combining GE Vernova’s Proprietary Sorbent Materials and Coating Processes with Montana’s Patented AirJoule® System Can Reduce Energy Consumption and Carbon Emissions in Air Conditioning, While Reducing or Eliminating Refrigerants and Providing Pure Water from Air
- The 50/50 Relationship Will Leverage Montana’s Global Supply Agreement With BASF, the World’s Largest Chemical Company and Manufacturer of Adsorbent Material at Production Scale
Montana Technologies LLC (“Montana”) today announced an agreement to form a joint venture with GE Vernova, a global leader in electrification, decarbonization, and energy solutions, to incorporate GE Vernova’s proprietary sorbent materials into systems that utilize Montana’s patented AirJoule® dehumidification, air conditioning, and atmospheric water harvesting technology. Pending customary closing conditions, the transaction is anticipated to close in the first quarter of this year.
The joint venture will exclusively manufacture and supply products incorporating the combined technologies to leading original equipment manufacturers and customers in the Americas, Africa, and Australia. The joint venture will also leverage Montana’s global supply agreement with BASF, which is expected to supply the new sorbent materials at production scale. The joint venture follows the recent execution of an agreement between Montana and Carrier Corp. to commercialize the AirJoule® technology in Carrier’s Heating, Ventilation, and Air Conditioning (HVAC) products throughout the Americas, Europe, India, and the Middle East.
“We are excited that the combination of proprietary water harvesting technologies developed by GE Vernova’s Advanced Research team with Montana’s AirJoule® system represents a major breakthrough in air-conditioning and air-to-water generation,” said GE Vernova Vice President of Business Development Rob Duffy. “Our joint venture with Montana is an opportunity to make an important impact on our world, our environment, and our future.”
Combining GE Vernova’s proprietary sorbents and coating processes with Montana’s AirJoule® technology is expected to improve the atmospheric water harvesting efficiency of the AirJoule® system. The AirJoule® system utilizes a self-regenerating pressure swing adsorption method to harvest thermal energy and pure water from air. Incorporating GE Vernova’s sorbent innovations into this proprietary system has the potential to reduce electricity consumption as compared to conventional air conditioning cooling systems and result in a corresponding reduction in carbon emissions as well as a reduction, or in some cases elimination, of refrigerants. In addition, the combined technologies can harvest pure water from air at low cost, offering a potential solution to water scarcity around the world.
“We are looking forward to the opportunity to join together with GE Vernova,” said Matt Jore, CEO of Montana. “The sorbent and coating innovations developed by the GE Vernova Advanced Research team combined with the AirJoule® system developed at Montana represent an opportunity to accelerate the energy- water nexus frontier, thereby reducing the cost and carbon footprint byproducts of air conditioning and fostering the cost-effective production of pure water from air.”
“Combining world-class technologies and capabilities, the joint venture will be positioned as a technology leader in the marketplace,” said Bryan Barton, Senior Director of Marketing, Ventures and Incubation at GE Vernova. “When working directly with end-use customers or HVAC and Water OEMs, these deep technical capabilities enable the JV to execute and deliver their transformative products.”
Montana announced on June 5, 2023, that it will combine with Power & Digital Infrastructure Acquisition II Corp (XPDB) (“XPDB”) and list on the NASDAQ (the “Proposed Business Combination”). The Proposed Business Combination is expected to close in the first quarter of 2024. GE Vernova expects to spin-off from General Electric Company in early April 2024.
Pat Eilers, CEO of XPDB, said, “The consummation of the joint venture partnership between GE Vernova and Montana is a remarkable advancement for the commercialization of AirJoule®. It also provides further validation of the AirJoule® technology, and support for the business combination between XPDB and Montana to access the public markets to finance the anticipated demand for the joint venture’s breakthrough technologies.”
