Mentioned:
One of the largest energy companies in America is making a bet on something new: producing distilled liquid water from the air.
What’s happening:
- GE Vernova (NYSE: GEV) has made a new $15M USD strategic investment into AirJoule Technologies (NASDAQ: AIRJ)
Why it matters:
- AirJoule Technologies’ flagship product known as the A1000 pulls pure water from the air through a metal organic framework which is then cooled and converted into pure, distilled liquid water
Going deeper:
- This is not the first time that GE Vernova has invested in AirJoule Technologies, previously making a $5M USD investment into the company and establishing a joint venture partnership focused on deploying AirJoule Technologies’ A1000 units for data centres and manufacturing facilities
- AirJoule Technologies also have multiple notable early investors, including HVAC giant Carrier Global (NYSE: CARR) and the Rice family who previously founded natural gas company Rice Energy prior to eventually being acquired by EQT Corp (NYSE: EQT) for $6.7B USD
The intrigue:
- The A1000 unit could be particularly relevant for data centres used for high performance computing and Bitcoin mining, in large part due to AirJoule Technologies’ ability to leverage waste heat to power its A1000 units and the significant water needs large scale data centres have for cooling
