Montana Technologies Corp. Announces Addition to Board of Directors and Names Chairman
Montana Technologies Corp. appointed Mr. Kyle Derham to its Board of Directors and named Mr. Pat Eilers as Chairman. The company aims to leverage the expertise of the new Board members to grow its AirJoule® technology globally, focusing on comfort cooling and water scarcity solutions. Montana has strategic partnerships in place to scale AirJoule® technology to meet increasing demand for pure water and air conditioning.
Appointment of Mr. Kyle Derham and Mr. Pat Eilers to the Board provides diverse expertise for growth.
Focus on deploying AirJoule® technology globally for low-cost comfort cooling and pure water.
Strategic partnerships with BASF, GE Vernova, Carrier Global , and CATL to scale AirJoule® technology.
- None.
Diverse Group of Individuals With Deep Scientific, Economic, and Geopolitical Expertise Will Provide Further Support for the Growth and Development of AirJoule® Technology
- Pat Eilers, Founder and Managing Partner of Transition Equity Partners;
- Ajay Agrawal, Senior Vice President, Global Services, Business Development and Chief Strategy Officer at Carrier Global Corporation;
- Max Baucus, Former Ambassador to
China and Six-Term United States Senator from theState of Montana ; - Paul Dabbar, Former Undersecretary of the Department of Energy for Science and Current Chief Executive Officer and Co-Founder of Bohr Quantum Technology;
- Matt Jore, Chief Executive Officer of Montana Technologies;
- Stu Porter, Founder, Chief Executive Officer and Chief Investment Officer of Denham Capital; and
- Dr. Marwa Zaatari, Founder and Chief Scientist of D-Zine Partners.
In addition,
Matt Jore, CEO and Director of
Pat Eilers, Chairman of the Board, said, "The addition of Kyle to such a talented and experienced group of people on the
Additional Information About Board Members
Mr. Pat Eilers is the Chairman of
Mr. Ajay Agrawal is the Senior Vice President of Global Services, Business Development, and Chief Strategy Officer for Carrier Global Corporation ("Carrier"). He joined Carrier in October 2019, prior to its spin-off from United Technologies Corporation ("UTC"). He is widely recognized as a results-oriented leader with deep strategic and ESG expertise, strong global experience, the ability to drive profitable growth, and the ability to guide complex business transformations. Prior to joining Carrier, Mr. Agrawal spent 14 years at UTC across multiple divisions and corporate headquarters from 2005 to 2019. Prior to joining UTC, he spent seven years with Bain & Company, a global strategy consulting firm, where he led broad-based client engagements with mid to large-size companies (both publicly and privately equity held) across the industrial, healthcare, financial services and retail sectors. Mr. Agrawal earned a Master in Business Administration from Carnegie Mellon University's Tepper School of Business, where he earned their highest honor (Elliott Dunlop Smith Award). He also earned a Ph.D. in Engineering from the University of
Mr. Max Baucus served as a member of the Board of Managers of Montana Technologies LLC prior to the merger with XPDB in March 2024. Mr. Baucus previously served as Ambassador of
Mr. Paul Dabbar is the President and Chief Executive Officer of Bohr Quantum Technology Corp, a quantum communications company, and has served as its Chief Executive Officer since 2021. Mr. Dabbar has served on the board of directors of Dominion Energy, Inc. since November 2023 and served on the board of directors of XPDI from February 2021 until the completion of its merger with Core Scientific in January 2022. He served on the board of directors of XPDB from December 2021 until the completion of its merger with Montana Technologies LLC in March 2024. Prior to Bohr Quantum, Mr. Dabbar served as Under Secretary for Science at the U.S. Department of Energy from 2017 to 2021, managing the operations of, and investing capital at the seventeen U.S. National Laboratories, conducting research and development in energy, technology and the sciences. Mr. Dabbar was previously a Managing Director in investment banking at J.P. Morgan Chase & Co., in energy and mergers & acquisitions from 1996 to 2017. Mr. Dabbar was also previously a nuclear submarine officer in the U.S. Navy. Mr. Dabbar earned a Bachelor of Science from the U.S. Naval Academy and an Master in Business Administration from
Mr. Kyle Derham is a Partner of Rice Investment Group, and he previously served as President and Chief Financial Officer of Rice Acquisition Corp. I, which merged with Archaea Energy and Aria Energy in 2021. After the business combination, Mr. Derham served as a Director of Archaea Energy until it was sold to bp in 2022. Mr. Derham also served as Chief Executive Officer of Rice Acquisition Corp. II, which merged with NET Power in 2023; he currently serves as a Director of NET Power. Previously, Mr. Derham served as interim Chief Financial Officer and strategic advisor to EQT Corporation from 2019 to 2021. From 2017 to 2019, Mr. Derham served as Vice President, Corporate Development and Finance of Rice Energy and Rice Midstream. Prior to joining Rice Energy, Mr. Derham was an associate at First Reserve, an energy-focused private equity fund, and prior to that, was an investment banker at Barclays. Mr. Derham earned a Bachelor of Science in Economics from the Wharton School at the University of
Mr. Matt Jore is the Chief Executive Officer of Montana Technologies Corporation. Mr. Jore founded Montana Technologies LLC, and served as Chairman and Chief Executive Officer since its founding and until the merger with XPDB in March 2024. Prior to founding Montana Technologies LLC, Mr. Jore founded Core Innovation and Jore Corporation, a power tool and accessories manufacturer that generated in excess of
Mr. Stu Porter served as a member of the Board of Managers of Montana Technologies LLC prior to the merger with XPDB in March 2024. Mr. Porter currently serves as the Chief Executive Officer and Chief Investment Officer of Denham Capital, which he founded, and serves on Denham Capital's Investment Committee and Valuation Committee. Prior to founding Denham Capital in 2004, Mr. Porter was a founding partner of Sowood Capital Management LP and, prior thereto, was employed as a Vice President and Portfolio Manager at Harvard Management Company, Inc., where he focused on public and private transactions in the energy and commodities sectors. Mr. Porter previously worked for Bacon Investments and at J. Aron, a division of Goldman Sachs. While at J. Aron, he worked on the Goldman Sachs Commodity Index desk. Prior to joining J. Aron, Mr. Porter was a self-employed trader at the
Dr. Marwa Zaatari co-founded D ZINE Partners in November 2020 and has served as the Chief Science Officer of D ZINE Partners since its founding. Prior to co-founding D ZINE Partners, Dr. Zaatari served as the Vice President of Building Solutions of enVerid Systems, Inc. from January 2015 through May 2020. Prior to joining enVerid Systems, Inc., Dr. Zaatari served as a consultant of Trinity Consultants and as the Chair of Indoor Air Quality Procedure of the
About Montana Technologies Corp.
Montana Technologies Corporation is a publicly traded company that holds the intellectual properties that make up the AirJoule® system, an atmospheric thermal energy and water harvesting technology that provides efficient and sustainable air conditioning and pure water from air. For more information, visit www.mt.energy.
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