Montana Technologies Announces Memorandum of Understanding with TenX Investment to Deploy AirJoule® for Water Security and Sustainability in the United Arab Emirates
Montana Technologies (NASDAQ: AIRJ) has signed a Memorandum of Understanding with TenX Investment to deploy AirJoule® technology for water security and sustainability in the United Arab Emirates. AirJoule® units generate pure distilled water from air and reduce energy consumption for air conditioning. The collaboration aims to enhance water security and energy sustainability in the UAE, with initial installations focusing on critical infrastructure and community water needs.
The partnership aligns with the UAE's Vision 2030 strategy, which has allocated over AED 20 billion towards water security and sustainable energy projects. Montana Technologies' joint venture with GE Vernova is commercializing AirJoule® atmospheric water generators that harvest water from both humid and arid atmospheres. The technology uses metal organic framework coated contactors to extract water from air efficiently and scalably.
Montana Technologies (NASDAQ: AIRJ) ha firmato un Memorandum of Understanding con TenX Investment per implementare la tecnologia AirJoule® per la sicurezza idrica e la sostenibilità negli Emirati Arabi Uniti. Le unità AirJoule® generano acqua distillata pura dall'aria e riducono il consumo energetico per la climatizzazione. La collaborazione mira a migliorare la sicurezza idrica e la sostenibilità energetica negli EAU, con le installazioni iniziali concentrate su infrastrutture critiche e necessità idriche delle comunità.
Il partenariato è in linea con la strategia Vision 2030 degli EAU, che ha destinato oltre 20 miliardi di AED a progetti di sicurezza idrica e energia sostenibile. La joint venture di Montana Technologies con GE Vernova sta commercializzando i generatori d'acqua atmosferica AirJoule® che raccolgono acqua da atmosfere sia umide che aride. La tecnologia utilizza contattori rivestiti con strutture metalliche organiche per estrarre acqua dall'aria in modo efficiente e scalabile.
Montana Technologies (NASDAQ: AIRJ) ha firmado un Memorando de Entendimiento con TenX Investment para implementar la tecnología AirJoule® para la seguridad hídrica y la sostenibilidad en los Emiratos Árabes Unidos. Las unidades AirJoule® generan agua destilada pura del aire y reducen el consumo de energía para la climatización. La colaboración tiene como objetivo mejorar la seguridad hídrica y la sostenibilidad energética en los EAU, con las instalaciones iniciales enfocadas en infraestructura crítica y necesidades hídricas de la comunidad.
La asociación se alinea con la estrategia Visión 2030 de los EAU, que ha asignado más de 20 mil millones de AED a proyectos de seguridad hídrica y energía sostenible. La empresa conjunta de Montana Technologies con GE Vernova está comercializando generadores de agua atmosférica AirJoule® que recolectan agua de atmósferas tanto húmedas como áridas. La tecnología utiliza contactores recubiertos con estructuras orgánicas metálicas para extraer agua del aire de manera eficiente y escalable.
몬태나 테크놀로지스 (NASDAQ: AIRJ)는 텐엑스 인베스트먼트와 협력하여 에어줄® 기술을 활용해 아랍 에미리트에서 물의 안전성과 지속 가능성을 증대시키기 위한 양해각서를 체결했습니다. AirJoule® 유닛은 공기에서 순수한 증류수를 생성하고 에어컨을 위한 에너지 소비를 줄입니다. 이 협력의 목표는 UAE의 물 안전성과 에너지 지속 가능성을 향상시키는 것이며, 초기 설치는 중대한 인프라 및 지역 사회의 물 수요에 집중됩니다.
이 파트너십은 UAE의 비전 2030 전략과 일치하며, 이 전략은 물의 안전성과 지속 가능한 에너지 프로젝트를 위해 200억 AED 이상을 할당했습니다. 몬태나 테크놀로지스와 GE 베르노바의 합작 투자로 에어줄® 대기 중 수원 발생기가 상습 및 건조한 대기에서 수분을 수확하고 있습니다. 이 기술은 금속 유기 구조체로 코팅된 접촉기를 사용하여 공기에서 효율적으로 물을 추출합니다.
Montana Technologies (NASDAQ: AIRJ) a signé un protocole d'accord avec TenX Investment pour déployer la technologie AirJoule® pour la sécurité de l'eau et la durabilité aux Émirats Arabes Unis. Les unités AirJoule® génèrent de l'eau distillée pure à partir de l'air et réduisent la consommation d'énergie pour la climatisation. Cette collaboration vise à renforcer la sécurité de l'eau et la durabilité énergétique aux EAU, les premières installations se concentrant sur les infrastructures critiques et les besoins en eau des communautés.
Le partenariat s'inscrit dans la stratégie Vision 2030 des EAU, qui a alloué plus de 20 milliards AED à des projets de sécurité de l'eau et d'énergie durable. La coentreprise de Montana Technologies avec GE Vernova commercialise des générateurs d'eau atmosphérique AirJoule® qui récoltent de l'eau dans des atmosphères humides et arides. Cette technologie utilise des contacteurs recouverts de structures organiques métalliques pour extraire l'eau de l'air de manière efficace et évolutive.
Montana Technologies (NASDAQ: AIRJ) hat ein Memorandum of Understanding mit TenX Investment unterzeichnet, um die AirJoule®-Technologie zur Sicherung und Nachhaltigkeit von Wasser in den Vereinigten Arabischen Emiraten einzusetzen. AirJoule®-Einheiten erzeugen reines destilliertes Wasser aus der Luft und reduzieren den Energieverbrauch für Klimaanlagen. Die Zusammenarbeit zielt darauf ab, die Wassersicherheit und die energetische Nachhaltigkeit in den VAE zu verbessern, wobei die ersten Installationen auf kritische Infrastrukturen und den Wasserbedarf der Gemeinschaft ausgerichtet sind.
Die Partnerschaft steht im Einklang mit der Strategie Vision 2030 der VAE, die über 20 Milliarden AED für Projekte zur Wassersicherheit und nachhaltigen Energie bereitgestellt hat. Das Joint Venture von Montana Technologies mit GE Vernova hat mit der Kommerzialisierung von AirJoule®-Atmosphärenwasser-Generatoren begonnen, die Wasser aus feuchten und trockenen Atmosphären ernten. Die Technologie verwendet mit metall-organischen Rahmen beschichtete Kontakte, um Wasser effizient und skalierbar aus der Luft zu extrahieren.
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RONAN, Mont., Aug. 15, 2024 (GLOBE NEWSWIRE) -- Montana Technologies Corporation (NASDAQ: AIRJ) (“Montana Technologies” or the “Company”), the developer of the transformational AirJoule® technology for atmospheric water generation, is pleased to announce the signing of a Memorandum of Understanding (“MOU”) with TenX Investment in Energy Enterprises & Management Co. LLC (“TenX”) to address water security and energy efficiency opportunities in the United Arab Emirates (“UAE”).
The collaboration between Montana Technologies and TenX aims to leverage AirJoule®’s cutting-edge technology to generate pure distilled water from air and reduce energy consumption for air conditioning, significantly enhancing water security and energy sustainability in the UAE. The Company and TenX will explore options to deploy AirJoule® units with initial installations focusing on critical infrastructure and community water needs.
“We are excited to work with TenX for this international deployment of AirJoule® units,” said Ramdas Rao, President, International of Montana Technologies. “The UAE has been at the forefront of adopting transformative technologies that enable sustainable development and responsible decarbonization. Along with our strategic investors including Transition Equity Partners (“TEP”), GE Vernova, and Carrier Corporation, among others, we look forward to optimizing our initial international rollout and operations in the UAE and working to enable water security and energy efficient comfort cooling in high growth markets around the world.”
Pat Eilers, Executive Chairman of Montana Technologies and founder of TEP, said, “TenX’s expertise and mission alignment in water security and sustainability projects makes them an ideal partner for deploying AirJoule in the UAE with a pathway towards further collaboration on local manufacturing and distribution in the future.”
Montana Technologies, through its 50/50 joint venture with GE Vernova, is commercializing AirJoule® atmospheric water generators that harvest water from both humid and arid atmospheres, producing pure distilled water and dehumidified air. AirJoule® units utilize metal organic framework coated contactors to extract water from air in a highly efficient and scalable process.
Matt Jore, CEO of Montana Technologies, said, “Since demonstrating the AirJoule® unit at COP 28 in Dubai in late 2023, there has been strong interest in the technology from customers across the world. AirJoule®’s ground-breaking advances in water harvesting and dehumidification will help to improve potable water access and security to millions of people in the region and beyond.”
TenX Investment, with its mission to bring the best international energy solutions to the UAE and MENA region, is currently focused on projects that enhance water security, energy efficiency, and sustainability. This MOU aligns with TenX’s strategy of investing in innovative technologies that provide substantial environmental and economic benefits. By integrating AirJoule® into their portfolio, TenX aims to offer sustainable water and energy solutions that reinforce their commitment to driving efficiency and sustainability.
Abdulrahman Al-Suwaidi, Managing Director at TenX Investment, commented: "We are proud to partner with Montana Technologies and look forward to investing in and deploying their innovative AirJoule® technology both in the UAE and internationally. This collaboration aligns perfectly with the UAE government's initiative to drive the private sector towards green and sustainable solutions, ensuring water security for future generations. Our joint efforts will significantly contribute to transforming the region's approach to water management and energy efficiency."
Husain Al Awadhi, Managing Director at TenX Investment, added: "The UAE government has allocated over AED 20 billion1 towards water security and sustainable energy projects as part of its Vision 2030 strategy. By integrating Montana Technologies' AirJoule® systems, we aim to enhance the region's water generation capabilities and reduce energy consumption. This collaboration will not only help meet the growing demand for water and energy but also support the UAE's ambitious targets for sustainability and environmental stewardship. Together, we are committed to delivering impactful solutions that address the critical challenges of water scarcity and energy efficiency."
- 1 USD = 3.67 AED
About Montana Technologies Corporation
Montana Technologies Corporation (NASDAQ: AIRJ) is the developer of AirJoule®, an atmospheric thermal energy and water harvesting technology that provides efficient and sustainable air dehumidification and pure water from air. Designed to reduce energy consumption and generate material cost efficiencies, AirJoule® is being commercialized through a joint venture with GE Vernova and through partnerships with Carrier Global Corporation and BASF. For more information, visit www.mt.energy.
About TenX
TenX Investment in Energy Enterprises & Management Co. LLC specializes in investing and bringing the best international energy solutions to the UAE and the broader MENA region. As a Dubai-based SME investment company, we leverage our extensive connections and strategic partnerships to provide unparalleled access to innovative energy technologies and services, ensuring our clients stay ahead in a rapidly evolving industry. Additionally, we invest in cutting-edge technologies to further support sustainable energy advancements, reinforcing our commitment to driving efficiency and sustainability in the energy sector. For more information, visit www.10xinvestment.ae.
Contacts
Montana Technologies
Tom Divine – Vice President, Investor Relations and Finance
investors@mt.energy
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cb0cb774-a23c-4b25-befd-4a606372f3d4
FAQ
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