Airjoule Technologies Corporation
08/13/2026 | Press release | Distributed by Public on 08/13/2026 15:26
AirJoule Technologies Announces Second Quarter 2026 Results and Provides Business Update (Form 8-K)
AirJoule Technologies Announces Second Quarter 2026 Results and Provides Business Update
AIRJ Signs Exclusive Sales Agreement with Kubota Corporation, Commissions First Full-Scale AirJoule Prime System, and Extends Commercialization into the UAE
Ronan, Mont., August 13, 2026 - AirJoule Technologies Corporation (NASDAQ: AIRJ) ("AirJoule Technologies" or "AIRJ"), a leading platform technology that unleashes the power of water from air, today announced its results for the second quarter of 2026 and provided a business update.
"We are continuing to execute on our plan to commercialize the AirJoule technology," said Matt Jore, Founder and Chief Executive Officer of AirJoule Technologies. "Our Kubota partnership enables us to deploy AirJoule systems for residential development in two states where water is a binding constraint on new housing. Alongside that, we have been operating our first Prime system and optimizing its performance before its deployment to Europe. We completed the technology acceleration program supported by the Net Zero Innovation Hub for Data Centers, we were awarded one of the first Expo City Dubai Green Licences in the UAE, and we now have an AirJoule Core system operating at GE Vernova's new Advanced Research Center Frontier Campus. The technology is validated, and we are working closely with our partners to bring the AirJoule products to our customers."
Second Quarter 2026 Highlights
Strategic Partnerships and Agreements
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Kubota Corporation Exclusive Sales Agreement: AIRJ entered into an exclusive sales agreement with Kubota Corporation ("Kubota") under which Kubota will act as the exclusive sales channel for AirJoule systems into multi-unit residential developments in Texas and California. Two AirJoule Core systems will be deployed at sites near Corpus Christi, Texas, and Irvine, California, with deployment commencing in the third quarter of 2026. Kubota, established in 1890, maintains operations in more than 150 countries and has expertise in wastewater treatment, water reclamation, pipe systems, and operations and maintenance.
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Net Zero Innovation Hub for Data Centers: AIRJ completed the technology acceleration program of the Net Zero Innovation Hub for Data Centers (the "Hub") in June 2026, having been selected from a field of more than seventy applicants in the fall of 2025. Over the course of the program, AIRJ worked with Hub member organizations, among them Google, Microsoft, Data4, Danfoss, Schneider Electric, and Vertiv, to align the AirJoule waste-heat-to-water platform with data center operating requirements. AIRJ expects to ship its first AirJoule Prime system to Europe in the third quarter of 2026, where it will demonstrate the ability to convert low-grade waste heat into pure distilled water.
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GE Vernova Advanced Research Center Frontier Campus: GE Vernova opened its Advanced Research Center Frontier Campus in Niskayuna, New York, in July 2026 and highlighted AirJoule as one of the key technologies that its research center supports. An AirJoule Core system is installed at the campus and operates as a demonstration unit for customers and partners visiting the site. The installation reflects GE Vernova's continued support for the 50/50 joint venture with AIRJ.
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Expo City Dubai Green Licence: In July 2026, AirJoule Technologies received one of the first Expo City Dubai Green Licences, admitting the company to the inaugural cohort of the Green Innovation District. The Green Innovation District is the UAE's first district dedicated to sustainable innovation, and the Green Licence is awarded only to companies able to demonstrate sustainability credentials.
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AirJoule Core Deployment Program in the UAE: In early August 2026, AIRJ shipped an AirJoule Core system to the UAE to support a program of customer demonstrations and performance validation across the country. The initial installation will be at Expo City Dubai, which exhibits technologies addressing water security and related challenges to a public and industry audience. Subsequent placements will support on-site customer demonstrations and exhibitions across various emirates of the UAE.
Product Development and Manufacturing
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First Full-Scale AirJoule Prime System Commissioned and Operating: AIRJ commissioned its first full-scale AirJoule Prime system at its Newark, Delaware facility in May 2026, and the system has operated outdoors since commissioning. System performance is progressing toward the published specification of up to 2,000 liters per day at less than 200 watt-hours per liter when paired with low-grade waste heat.
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AirJoule Prime Unveiling: On June 26, 2026, AIRJ unveiled the first Prime system, hosting Delaware Governor Matt Meyer and United States Senator Chris Coons, along with local elected officials and representatives from regional economic development organizations.
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Additional Prime Systems Under Construction: AIRJ is building additional Prime systems at Newark over the coming months. The additional systems allow AIRJ to continue optimizing at Newark and to provide showcase assets for customer demonstrations and performance validation while the first system is deployed in Europe.
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Core DH Energy Performance: Head-to-head testing of the AirJoule Core DH system against an incumbent desiccant wheel standard continued to demonstrate significant energy savings across AIRJ's target humidity range. Core DH targets the 1.2 million unit installed base of conventional desiccant wheel systems in dry storage and cold storage facilities that operate between 30% and 50% relative humidity. AIRJ is deploying Core DH systems to strategic customers beginning in the third quarter of 2026.
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Productization and Manufacturing Readiness: AIRJ ran commercial deployment and product development in parallel during the quarter, continuing to deploy systems with a limited number of strategic customers while a second engineering track completes design for manufacturing, cost reduction, reliability testing, and product certification for production at scale. AIRJ is also reducing and simplifying the bill of materials on both platforms and working through a defined sequence to prepare for contract manufacturing.
Balance Sheet and Liquidity
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Cash Position: AIRJ ended the second quarter of 2026 with $41.4 million of cash on the balance sheet, which includes $14.2 million of net proceeds from a registered direct offering completed in June 2026. Combined cash across AirJoule Technologies and the joint venture was $43.0 million with no debt.
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Capital Contributions to the Joint Venture: AirJoule Technologies funded $2.5 million in capital contributions to the joint venture during the second quarter to support ongoing productization, manufacturing, and commercial deployment activities. Total joint venture operating expenses for the quarter were approximately $5.0 million.
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2026 Spend Framework Updated: AIRJ now expects approximately $27 million to $28 million of combined cash spend across AirJoule Technologies and the AirJoule joint venture during 2026, compared with the approximately $25 million communicated previously. The increase reflects greater commercialization activity at the joint venture as AIRJ pursues multiple projects and deployments across different applications. AIRJ has sufficient liquidity to fund operations, the joint venture, and planned commercial deployments into 2028.
2026 Outlook
Key priorities for the remainder of 2026 include:
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Product Launches: Continue optimizing the first AirJoule Prime system; bring additional Prime systems online at Newark; and deploy AirJoule Core DH systems.
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Customer Deployments: Begin the two Kubota Core deployments near Corpus Christi, Texas and Irvine, California; deploy the first Prime system in Europe through the Net Zero Innovation Hub for Data Centers; execute the AirJoule Core demonstration program in the UAE beginning at Expo City Dubai; and build the deployed reference base and contracted customer relationships that support scaled commercial activity in 2027.
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Manufacturing and Scale: Complete design for manufacturing and bill-of-materials reduction work on both platforms and continue contract manufacturing preparations.
Quarterly Report on Form 10-Q
AirJoule Technologies' condensed consolidated financial statements and related footnotes are available in its Quarterly Report on Form 10-Q for the three and six months ended June 30, 2026, which is expected to be filed with the Securities and Exchange Commission ("SEC") on August 14, 2026.
Earnings Call Webcast
AirJoule Technologies will host a conference call to discuss second quarter 2026 results at 8:30 AM ET on Friday, August 14, 2026. To access the live audio webcast of the conference call, please visit the AirJoule Technologies investor relations website at https://airjouletech.com/investors. To participate by phone, dial 877-407-6184. An archived webcast will be available following the call.
About AirJoule Technologies Corporation
AirJoule Technologies Corporation (NASDAQ: AIRJ) is a leading platform technology that unleashes the power of water from air. Through its joint venture with GE Vernova and in partnership with Carrier Global Corporation, the Company is freeing the world of its water and energy constraints by delivering groundbreaking sorption technologies. For more information, visit https://airjouletech.com.
Follow AirJoule Technologies on LinkedIn: https://www.linkedin.com/company/airjoule-tech/
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