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Power & Digital Infrastructure Acquisition II Corp (XPDB) is a blank check company based in Delaware, established to facilitate mergers, capital stock exchanges, asset acquisitions, share purchases, reorganizations, or similar business combinations. As of March 11, 2024, XPDB has entered into a business combination with Montana Technologies, a company known for its pioneering AirJoule® technology, which revolutionizes air conditioning efficiency and atmospheric water harvesting.
Montana Technologies, leveraging advanced sorbent materials developed by GE Vernova, utilizes its patented AirJoule® technology for highly efficient dehumidification, air conditioning, and water harvesting. This innovative technology reduces energy consumption while producing pure water, thus addressing water scarcity and contributing to the energy transition.
Incorporating advanced desiccant materials and a self-regenerating pressure swing adsorption system, the AirJoule® technology harnesses thermal energy from the air, making it a significant step forward in sustainable HVAC solutions. This joint venture, named AirJoule, LLC, benefits from the expertise of GE Vernova's Advanced Research team and its investments from notable partners, including Carrier and the Rice Investment Group.
XPDB's recent achievements include exceeding the $50 million target minimum cash condition for pre de-SPAC financing, highlighting Montana Technologies' robust technology and strategic partnerships. Following the successful business combination, Montana Technologies will trade on NASDAQ under the ticker symbol 'AIRJ'.
XPDB's strategic partnership with GE Vernova and other global suppliers ensures the scalability and commercialization of AirJoule® products, poised to capitalize on the estimated $455 billion total addressable market for HVAC and air-to-water applications. The company's forward-looking strategies focus on innovative energy solutions and sustainable technologies, contributing significantly to global energy transition efforts.
For more information about Montana Technologies and their groundbreaking AirJoule® technology, visit www.mt.energy.
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