Carrier Global, Montana Technologies enter joint commercialization agreement

Montana Technologies announced entry into a binding term sheet related to a commercial collaboration with Carrier Global to develop and commercialize Montana’s transformational AirJoule dehumidification and cooling technology. In connection with the commercial collaboration, Montana has, subject to the satisfaction of certain milestones, granted Carrier the exclusive right to commercialize the AirJoule technology into HVAC equipment in the Americas for a period of three years. In addition, Carrier has conditionally committed $10M in growth equity into Montana to foster commercialization of AirJoule. This investment follows strategic partnerships that Montana has entered into with BASF, the largest chemical producer in the world, and CATL, the world’s largest lithium-ion electric battery manufacturer.