New Venture Concentrating on Advanced Dehumidification and Atmospheric Water Harvesting Chooses Delaware for Location
AirJoule, created by GE Vernova and Montana Technologies, opening sites in Newark and Wilmington.
- Wilmington-Newark, DE-MD (1888PressRelease) July 26, 2024 - AirJoule LLC (“AirJoule” or the “Company”), a 50-50 joint venture between GE Vernova Inc. (NYSE: GEV) and Montana Technologies Corp. (Nasdaq: AIRJ) that focuses on economical atmospheric water harvesting, has chosen to locate in Delaware.
AirJoule is leasing a 30,000 square-foot site on Shea Way in the Newark area’s Delaware Industrial Park for its main office and manufacturing facilities. It is also leasing 500 square feet at The Innovation Space in Wilmington’s DuPont Experimental Station for research and development activities.
The Company projects an investment of up to $15.3 million to prepare the Newark site for its operations. It also anticipates hiring up to 60 employees for professional, skilled and semi-skilled technical positions with salaries ranging from $60,000 to over $100,000 during the next few years.
“This is exciting news for Delaware. AirJoule’s decision to bring administrative, manufacturing and research operations to the First State creates a variety of job opportunities for Delawareans,” said Governor John Carney. “I want to thank the Delaware Prosperity Partnership for its continued work to make sure Delaware has a vibrant workforce and a strong economy.”
AirJoule uses an environmentally friendly, sorbent-based process with minimal emissions to produce efficient and sustainable air dehumidification and harvest pure distilled water from air. Designed to reduce energy consumption and generate material cost efficiencies, the AirJoule system eliminates the need for refrigerants, uses little energy and works in both humid and arid environments.
AirJoule is a 50-50 joint venture between GE Vernova and Montana Technologies. GE Vernova is a publicly traded global leader in electrification, decarbonization and energy solutions, with more than 80,000 employees across 100 countries, that generates approximately 30% of the world’s electricity and serves many of the world’s leading utilities and large industrial electricity users. Montana Technologies is a publicly traded corporation that developed the AirJoule system based on a concept developed by researchers at the Department of Energy’s Pacific Northwest National Laboratory.
AirJoule’s location in Delaware will further strengthen the state’s advanced chemical and materials science industries while contributing to global decarbonization initiatives.
“Congratulations to AirJoule on the location of their main office and manufacturing center in Newark, along with their cutting-edge R&D site in Wilmington,” said New Castle County Executive Matt Meyer. “Their commitment to pioneering atmospheric water harvesting through innovation and collaboration is truly inspiring, and we wish them a future filled with sustainable solutions and impactful advancements.”
Following a referral from the New Castle County Chamber of Commerce, DPP collaborated with the Company, the State of Delaware, and other partners to help AirJoule select its sites in Delaware. DPP supported AirJoule’s request to the Council on Development Finance for a Jobs Performance Grant of up to $540,000 and a Capital Expenditure Grant of up to $460,650 from the Delaware Strategic Fund. Distribution of these grant monies is dependent on the Company meeting commitments as outlined to the CDF, which reviewed and approved AirJoule’s request for up to $1,000,650 in total funding.
According to Company officials, AirJoule selected Delaware over another potential location primarily due to the state’s robust talent pool of chemical engineers and its business affordability.
“We are thrilled to be establishing our main office and manufacturing facility in the vibrant state of Delaware,” said AirJoule CEO Bryan Barton, who previously worked at other companies in Delaware. “Delaware’s dynamic business environment and talented workforce make it the ideal location to locate our operations.”
About Delaware Prosperity Partnership
Created in 2017, Delaware Prosperity Partnership is the nonprofit public/private organization that leads Delaware’s statewide economic development efforts to attract, grow and retain businesses; build a stronger entrepreneurial and innovation ecosystem; and support private employers in identifying, recruiting and developing talent.
About AirJoule LLC
Created as a 50-50 joint venture between GE Vernova and Montana Technologies in March 2024, AirJoule offers transformational technology that enables the atmosphere to become an around-the-clock renewable energy and water resource. It is the exclusive commercialization entity resulting from technologies developed both at GE Vernova and Montana Technologies. Furthermore, it is one of the first business transactions from GE Vernova’s Ventures and Incubation group, which brings leading energy transition innovations to customers by collaborating with startups.
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