Montana Technologies announces agreement with Climate Impact Corporation to collaborate on atmospheric water generation for renewable hydrogen production
RONAN, Mont., Aug. 08, 2024 (GLOBE NEWSWIRE) -- Montana Technologies Corporation (NASDAQ:AIRJ) ("Montana Technologies"), the developer of the transformational AirJoule® technology for atmospheric water generation, today announced that it has signed a Memorandum of Understanding with Climate Impact Corporation ("CIC") to collaborate on the development of CIC's renewable hydrogen production modules. Using AirJoule® atmospheric water generators from Montana Technologies, CIC expects that its modular hydrogen production units will be able to produce hydrogen in areas with high sun exposure at a competitive USD$2 per kilogram production price.
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. The AirJoule® units utilize metal organic framework coated contactors and a dual vacuum chamber to adsorb and desorb water from air in a highly efficient and scalable process.
Each of CIC's modular hydrogen production units contains solar panels, atmospheric water generators, electrolysers and supporting infrastructure, enabling each unit to produce renewable hydrogen entirely off-grid. CIC intends to develop two 10GW renewable hydrogen projects utilizing its proprietary technology in central Australia, with other projects to follow in locations globally. The integration of the AirJoule® atmospheric water generators into the technology allows hydrogen to be produced anywhere that has a high sun exposure – including the world's deserts.
Matt Jore, CEO of Montana Technologies, said "Our goal is simple – effectively address the ongoing climate crisis by utilizing the Earth's natural water cycles as a renewable resource. Our globally patented AirJoule® technology allows for the highly efficient extraction of water from the atmosphere, which is a key element of CIC's renewable hydrogen production modules."
Bryan Barton, Chief Commercialization Officer at Montana Technologies, added, "We believe that strategic partnerships are essential in making a meaningful contribution to climate change, so we are delighted to be working in collaboration with CIC on optimizing their renewable hydrogen production modules with AirJoule® to enable better global climate outcomes."
CIC Chairman and Co-Founder David Green commented, "A successful energy transition cannot be achieved in a silo. That's why we believe in establishing strong partnerships with companies that share our same objective. Our collaboration with Montana Technologies will play a key role in unlocking a competitive production price for renewable hydrogen. Through this agreement, we want to revolutionize hydrogen production, enabling hydrogen to be produced not only at a competitive price, but in a range of locations."
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 Climate Impact Corporation
Climate Impact Corporation is a global developer, investor and manager of large-scale green hydrogen projects. Each of its projects is designed to deliver economic opportunity, environmental benefits, and sustainable and dependable energy sources that enable the transition to a low-carbon future. With operations around the world, Climate Impact brings over 40 years of experience in delivering large-scale green energy projects. For more information, visit www.cic-hydrogen.com.
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