Montana Technologies Establishes International Office in the United Arab Emirates
RONAN, Mont., Sept. 25, 2024 (GLOBE NEWSWIRE) -- Montana Technologies Corporation (NASDAQ:AIRJ) ("Montana Technologies" or the "Company"), the developer of the transformational AirJoule® technology for atmospheric water generation, today announced that it has established its first international office in the United Arab Emirates ("UAE") to accelerate the deployment of AirJoule® in the region.
"Establishing an office in the UAE will help us to efficiently address the significant demand for AirJoule®'s advanced dehumidification and atmospheric water harvesting capabilities from potential customers in the fast-growing markets of the UAE, the Gulf Cooperation Council countries, and India. Our UAE presence also bolsters the Company's efforts to strategically calibrate the rollout of our transformative technology globally," said Ramdas Rao, President, International of Montana Technologies who heads this new office.
"AirJoule®'s market-leading efficiency when delivering distributed water security and power-efficient comfort cooling is our key differentiator and has the potential to support responsible decarbonization while supporting this region's rapid development trajectory and critical infrastructure growth. The UAE government leadership is very proactive in attracting and supporting the growth of cutting-edge technologies that enable sustainable development. We look forward to working closely with our local and strategic partners and using the UAE as a hub to fine-tune our international go-to-market strategies, thereby further catalyzing sustainable development for communities here and around the world," Mr. Rao added.
Montana Technologies previously announced the signing of a Memorandum of Understanding with TenX Investment in Energy Enterprises & Management Co. LLC to address water security and energy efficiency opportunities in the UAE.
Pat Eilers, Executive Chairman of Montana Technologies, said, "UAE's Vision 2030 places a strong emphasis on water security as one of the critical aspects of its sustainable development goals. The deployment of AirJoule®'s industry-leading capabilities for water harvesting is expected to meaningfully contribute to efforts by the UAE government and corporations to strengthen water security. We are excited to be expanding our presence in the country and bolstering our global reach with the establishment of our international office."
In conjunction with establishing its international office, Montana Technologies will showcase AirJoule® at the WETEX conference in Dubai on October 1-3. Organized by the Dubai Electricity and Water Authority, WETEX provides a platform to display technological advancements in energy, water and natural resources in support of Dubai's vision to build a sustainable future. The Company encourages WETEX attendees to visit its exhibition booth (Booth #7-F2) to see a demonstration AirJoule® unit and to meet the Company's senior executives.
As the most advanced dehumidification and water harvesting technology in the market, AirJoule® can harvest water directly from the air to mitigate water scarcity. AirJoule® can also be paired with vapor compression refrigeration systems to reduce power consumption for air conditioning by up to 75%.
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.
Forward-Looking Statements
The information in this press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release are forward-looking statements. These forward-looking statements are based on management's current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts
Montana Technologies Corporation
Tom Divine – Vice President, Investor Relations and Finance
[email protected]
