Carrier Signs Agreement With Montana Technologies To Commercialize Carbon-Reducing Cooling Technology For HVAC Solutions
Portfolio Pulse from Benzinga Newsdesk
Carrier Global Corporation (NYSE:CARR) has signed a binding term sheet with Montana Technologies to develop and commercialize AirJoule dehumidification and cooling technology. Carrier also conditionally committed $10 million in growth equity to Montana. AirJoule technology aims to reduce electricity consumption and carbon emissions in air conditioning systems. Carrier will have the right to nominate a board member to the post-merger entity of Montana and Power & Digital Infrastructure Acquisition II Corp. (NASDAQ:XPDB). The merger is expected to close in Q1 2024, with the combined entity to list on NASDAQ under ticker AIRJ.
January 08, 2024 | 2:24 pm
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POSITIVE IMPACT
Carrier Global Corporation has entered into a partnership with Montana Technologies to commercialize energy-efficient cooling technology, with a $10 million equity investment.
Carrier's investment in a new technology that promises to reduce energy consumption and carbon emissions is likely to be viewed positively by investors who are increasingly focused on sustainability. This could lead to a short-term positive impact on CARR's stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90
POSITIVE IMPACT
Power & Digital Infrastructure Acquisition II Corp. is set to merge with Montana Technologies, with the combined entity to list on NASDAQ under the ticker AIRJ in Q1 2024.
The announcement of the upcoming merger and listing on NASDAQ is a significant development for XPDB. The involvement of Carrier Global and the potential for commercial success of the AirJoule technology could positively influence XPDB's stock price in the short term.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 70