Streetbeat News

XPDB

Power & Digital Infrastructure Acquisition II Corp

Open

19.16

Mkt cap

345M

Volume

13K

High

19.59

P/E Ratio

388.00

52-wk high

49.11

Low

16.20

Div yield

N/A

52-wk low

9.02

Power & Digital Infrastructure Acquisition II Corp. (XPDB) announced the closing of its business combination with Montana Technologies LLC, inventor of AirJoule®, a renewable energy and cooling technology. The combination, supported by over $50 million in capital commitments from Carrier Corporation, Rice Investment Group, and GE Vernova, will enable the commercialization of AirJoule®. Montana Technologies Corporation will trade on NASDAQ under the symbols 'AIRJ' and 'AIRJW'. The funding and partnerships with companies like BASF, GE Vernova, CATL, and Carrier aim to scale and deploy AirJoule® units globally.

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Portfolio Pulse from Avi Kapoor

March 12, 2024 | 9:36 am

GE Vernova and Montana Technologies have formed a 50/50 joint venture, AirJoule, LLC, to manufacture and supply air conditioning and atmospheric water harvesting products using advanced technologies in the Americas, Africa, and Australia. This venture combines GE Vernova's sorbent materials and Montana's patented AirJoule technology. The collaboration aims to reduce energy use and carbon emissions in the air conditioning industry and improve air-to-water generation. GE Vernova has also invested in Montana Technologies, which is set to merge with Power & Digital Infrastructure Acquisition II Corp (XPDB) and will trade under the ticker symbol 'AIRJ'. GE Vernova is expected to spin-off from General Electric Company in April 2024.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 12:35 pm

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.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 1:49 pm

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.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 2:24 pm

Montana Technologies has entered into a joint commercialization agreement with Carrier Global Corporation (CARR) to develop and commercialize Montana's AirJoule cooling technology. Carrier has conditionally committed to a $10 million growth equity investment in Montana, contingent on certain milestones. The agreement grants Carrier exclusive rights to commercialize AirJoule in the Americas for three years. Carrier will also nominate a board member to the post-merger entity of Montana and Power & Digital Infrastructure Acquisition II Corp. (XPDB). The merger and NASDAQ listing under ticker AIRJ are expected to close in Q1 2024.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 2:23 pm

Power & Digital Infrastructure Acquisition II is set to combine with Montana Technologies to commercialize AirJoule technology for decarbonization of HVAC systems and water supply. The expected enterprise value of the combined entity is $500 million.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2023 | 1:01 pm

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