AirJoule (AIRJ) Q1 2026 Earnings Transcript

Image source: The Motley Fool.

DATE

May 15, 2026, 8:30 a.m. ET

CALL PARTICIPANTS

• Chief Executive Officer — Matthew Jore

• Executive Chair — Patrick C. Eilers

• Chief Commercial Officer and Joint Venture Lead — Bryan Barton

• Chief Financial Officer — Sze-Yin Pang

Full Conference Call Transcript

Matthew Jore: Thanks, Tom. Good morning, everyone, and convey you for joining america for our archetypal 4th 2026 net call. On our past net telephone successful March, we framed 2025 arsenic the twelvemonth we built the instauration for commercialization done our archetypal deployments astatine our associated task with GE Vernova?and 2026 arsenic the twelvemonth we moved from those one-off deployments to productize commercialized sales. We are executing against that plan. So acold successful 2026, we've made disciplined advancement connected the AirJoule Core level completed the physique of our archetypal AirJoule Prime full-scale strategy astatine our Newark, Delaware installation and continued advancing lawsuit engagements toward commercialized pipeline gathering successful 2027 and beyond.

Before I picture that advancement successful much detail, I privation to walk a small clip connected the macro. The h2o resilience tailwinds we discussed connected anterior calls person not slowed, they've really accelerated. Water scarcity is becoming much cardinal to concern readying each quarter. In caller weeks, aggregate hyperscalers person abandoned multibillion-dollar information halfway projects successful the look of assemblage absorption tied to h2o access. Institutional investors representing much than $1 trillion successful assets person pressed those aforesaid companies for site-by-site disclosure of their h2o use. When the largest unreality operators successful the satellite locomotion distant from projects of that standard implicit h2o access, the awesome to the remainder of the marketplace is unmistakable.

At slightest a twelve U.S. states person introduced information halfway moratorium bills this year, and Bloomberg has documented that astir 2/3 of the information centers built successful the U.S. since 2022 beryllium successful areas already nether measurable h2o stress. Drought, regulatory unit and the accelerating h2o demands of compute and infrastructure are each intensifying, not abating. This is precisely the occupation AirJoule was built to assistance solve. Now let's sermon however AirJoule fits into this picture, peculiarly with respect to information centers. We applaud the enactment the manufacture has done to thrust h2o depletion down. closed-loop systems, direct-to-chip cooling and continuous improvements successful Water Use Effectiveness, oregon WUE, are existent progress.

The astir businesslike WUE levels we spot contiguous are connected the bid of 0.1 liters per kilowatt hr astatine the astir precocious hyperscaler facilities. However, these facilities are hundreds of megawatts oregon adjacent gigawatts successful scale. So the implicit measurement of h2o consumed is inactive important and requires important h2o permits. Beyond the archetypal gully to capable the system, determination are continuing requirements for closed-loop h2o replenishment, humidification and home uses. For the millions of gallons of h2o that adjacent the astir businesslike information centers inactive consume, AirJoule tin trim dependence connected aggregate proviso an aquifer entree done on-site h2o generation. Turning backmost to our advancement truthful acold successful 2026.