Financial Data and Key Metrics Changes - The net loss for the fourth quarter was $14.3 million, with a full-year loss of $5.3 million from the joint venture [27][29] - Aerojoule Technologies raised $62 million in equity capital during the year, with $50 million from a PIPE transaction [29] - The company ended the year with $28 million in cash on its balance sheet and $1.9 million at the joint venture level [29][30] Business Line Data and Key Metrics Changes - Aerojoule's joint venture with GE Vernova reported a net loss of $2.4 million for Q4 and $5.3 million for the full year, with no revenue reported in 2024 [27][28] - The company is focusing on using waste heat from data centers to produce distilled water, with expected pilot deployments in 2025 [14][20] Market Data and Key Metrics Changes - The operational unit in Dubai is generating pure distilled water and providing valuable data for optimization [12][13] - The company sees significant market opportunities in regions with strong water security needs, particularly in the Middle East and Southwest United States [13][14] Company Strategy and Development Direction - The company aims to leverage innovative technologies to address water scarcity and improve energy efficiency [5][6] - There is a strong focus on integrating AirJoule technology into data center cooling systems to utilize waste heat for water production [19][20] - The company plans to launch preproduction units capable of producing 4,000 liters of water per day in the second half of 2025 [22] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential for AirJoule technology to provide cost-effective water solutions in various industrial applications [11][20] - The company is committed to improving its energy efficiency metrics and targeting lower energy consumption levels for water production [53][56] Other Important Information - The company has entered into a committed equity facility of up to $30 million to provide financial flexibility for future growth [31] - The company is actively engaging with various sectors, including the Department of Defense and food and beverage industries, to explore pilot projects [25][73] Q&A Session Summary Question: What are the annual energy savings from AirJoule compared to existing systems? - The energy savings are based on improved efficiencies when using AirJoule as a chiller with a higher efficiency chiller and water for evaporative cooling [33] Question: What stage are the data center proof of concept projects in? - The technology is at the engineering stage, with deployments planned for the second half of the year [35][36] Question: How does AirJoule maintain efficiency in lower humidity environments? - The efficiency is achieved through a vacuum swing compressor and the use of low-grade waste heat, eliminating the need for a compressor [40][41] Question: What is the budget for the joint venture in 2025? - The budget is estimated at $13 million to $15 million, which reflects ongoing operational expenses [44][45] Question: Is the proof of concept unit in Dubai operating at the same efficiency level? - The Dubai unit is operating at a higher efficiency than 160 watt hours per liter, primarily for operational process validation [49] Question: How will AirJoule be utilized in the food and beverage industry? - The technology can improve dehumidification efficiency and address water scarcity challenges in food and beverage operations [73]