Power & Digital Infrastructure Acquisition II Corp. And Montana Technologies Planned Business Combination Currently Scheduled For March 12th, 2024
Portfolio Pulse from Benzinga Newsdesk
Power & Digital Infrastructure Acquisition II Corp. (XPDB) and Montana Technologies announced a planned business combination for March 12, 2024, supported by over $50 million in commitments from third parties including Carrier and Rice Investment Group. This move will fuel the launch of a joint venture between GE Vernova and Montana Technologies to commercialize AirJoule® technology for atmospheric water generation and Carrier air conditioning products. The venture will leverage a global supply agreement with BASF and strategic partnerships with CATL, the U.S. Department of Energy, and the Rice Investment Group to scale production.
March 04, 2024 | 1:49 pm
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XPDB's planned business combination with Montana Technologies, supported by over $50 million in commitments, aims to commercialize AirJoule® technology, potentially transforming the HVAC and water generation markets.
The significant financial backing and strategic partnerships for the commercialization of AirJoule® technology indicate a strong potential for growth and market impact. This could lead to increased investor interest and a positive short-term impact on XPDB's stock price.
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