AirJoule Technologies Corp (NASDAQ: AIRJ) is an atmospheric water harvesting technology company that develops systems to extract water vapor from ambient air while simultaneously providing dehumidification and cooling. The company has not generated commercial revenue as of its FY2025 10-K filing (filed March 31, 2026). It operates through a joint venture with GE Vernova, manufacturing AirJoule systems at a 45,000 square foot facility in Newark, Delaware. AirJoule holds an exclusive worldwide license from Pacific Northwest National Laboratory (PNNL) for self-regenerating dehumidifier technology, obtained in Q1 2021, and has filed patent applications across relevant markets covering atmospheric latent energy and water harvesting systems. In January 2024, the company entered binding term sheets with Carrier for exclusive commercialization rights to AirJoule-integrated HVAC products in North and South America. Target end markets include HVAC, data centers, advanced manufacturing, and military applications. Commercial sales are not expected to begin until 2026, per the FY2025 filing.
- Revenue model
- AirJoule Technologies generated no commercial product revenue through FY2025. The company is pre-revenue, with expenses concentrated in general and administrative, research and development, and sales and marketing. It recorded equity losses from its investment in AirJoule, LLC and interest income on cash holdings. Future revenue is expected to come from sales of AirJoule systems and related components, with planned commercial deployment beginning in late 2026.
- Products and services
- The core product is the AirJoule system, offered in Core and Prime platform configurations, which harvests atmospheric water vapor using advanced sorbent materials, vacuum distillation, and UV filtration to produce PFAS-free distilled water meeting FDA bottled water standards. The system also delivers dehumidified and cooled air. Multiple AirJoule Core systems were manufactured and deployed during 2025 to field test sites in Hubbard, Texas; Tempe, Arizona; Pescadero, California; and Dubai, UAE.
- Customers and end markets
- Target end markets include HVAC (building owners and facility managers seeking energy and refrigerant reduction), data centers (cooling cost reduction and water sustainability), advanced manufacturing (humidity control and ultra-pure water), and military (water supply in remote or water-scarce environments). Carrier holds exclusive commercialization rights for AirJoule-integrated HVAC products in North and South America, and non-exclusive rights in Europe, India, and the Middle East, per binding term sheets signed January 7, 2024. TenX Investment holds an exclusive distribution agreement for the Middle East region.
- Value-chain role
- AirJoule Technologies occupies a technology development and licensing role, holding foundational IP licensed from PNNL and filing its own PCT patent applications. Manufacturing is conducted through its joint venture with GE Vernova at the Newark, Delaware facility. The company plans to co-develop sector-specific applications with strategic partners who provide supply chains, sales channels, and service networks.
- Geographic exposure
- Manufacturing is based in Newark, Delaware. Field deployments as of FY2025 span Hubbard, Texas; Tempe, Arizona; Pescadero, California; and Dubai, UAE. Carrier holds commercialization rights covering North and South America (exclusive) and Europe, India, and the Middle East (non-exclusive). TenX Investment covers the Middle East under an exclusive distribution agreement.
