Joint Venture Pioneers Sustainable HVAC Solutions

A new energy and technology partnership has been struck to develop cutting-edge heating, ventilation and air conditioning (HVAC) products that are set have a significantly lower impact on the environment compared to traditional systems.

This collaboration is between GE Vernova, a leader in global energy solutions, and Montana Technologies Corporation, which develops and deploys atmospheric energy and water harvesting systems. The joint venture is named AirJoule LLC.

This marries GE Vernova's innovative sorbent materials -- those that that absorb liquids or gases -- and coating process with Montana's patented technology encompassing dehumidification, air conditioning, and atmospheric water harvesting, known as AirJoule.

Cutting air conditioning energy consumption

The need for energy-efficient air conditioning is significant. Traditional units consume up to 4100 watts per hour, contributing over 4kg of greenhouse gases for every hour of operation, assuming the energy source is non-renewable. The International Energy Agency highlights that air conditioning alone uses 20% of electricity in buildings globally, and 10% of the world's total electricity consumption. With projections indicating a triple increase by 2050, the demand for sustainable solutions is imperative.

Matt Jore, CEO of Montana Technologies, confirms the urgency: "That's simply unsustainable. But, if you can reduce the energy consumption of air conditioning by 50% or 75%, that will make a big dent on greenhouse gas emissions.

New HVAC tech addressed water scarcity

AirJoule not only focuses on reducing energy consumption but also tackles the global challenge of water scarcity. By harvesting water from air humidity, the technology could address the increasing challenges due to rising global temperatures which exacerbate humidity levels.

Matt elucidates the dual benefits of the AirJoule technology: "Humidity in the air is one of the biggest challenges facing humanity, as it will continue to increase as humans continue to heat the earth and it is also a huge energy drain on conventional air conditioning systems. That's what AirJoule addresses."

With forecasts from the United Nations suggesting that the global urban population facing water scarcity will double by 2050, the potential for AirJoule to provide distilled water is profound. Industries such as semiconductors, green hydrogen production, and pharmaceuticals could benefit immensely from this innovation.

The joint venture operational model

AirJoule LLC is slated to exclusively manufacture and supply innovative air conditioning and atmospheric water harvesting products across the Americas, Africa, and Australia. To bolster this initiative, GE Vernova has invested strategically in Montana Technologies.

Limor Spector, President of Ventures and Incubation at GE Vernova explains the synergy: "Each partner brought different parts of the IP needed for a full solution. That interlocking IP and the need for commercialisation outside our core businesses made for a very compelling story for us to partner together.

Bryan Barton, previously Senior Director of Marketing at GE Vernova, will assume the role of CEO at AirJoule. The GE Vernova Advanced Research team will also extend their expertise to bolster ongoing research and development initiatives.

This partnership materialises subsequent to GE Vernova's spin-off from General Electric in April, marking one of the maiden transactions by GE Vernova's new ventures and incubation group. It underscores the collaborative spirit imperative for tackling global climate challenges effectively.

Matt Jore concludes, underscoring the essence of collaboration: "For partnerships to work, it's important to find like-minded people, good people who are motivated by these higher goals. The GE Vernova team has people like that, and that means we are all working together in the same direction."
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