09:48 AM EDT, 03/11/2024 (MT Newswires) -- General Electric ( GE ) unit GE Vernova said Monday that it has closed a 50-50 joint venture with Montana Technologies called AirJoule.

The companies said the joint venture will incorporate GE Vernova's proprietary sorbent materials into systems using Montana Technologies' AirJoule dehumidification, air conditioning, and atmospheric water harvesting technology.

Under the agreement, GE Vernova has made an investment in Montana Technologies. Financial terms were not disclosed.

Last June, Montana Technologies said it would combine with Power & Digital Infrastructure Acquisition II Corp. ( XPDB ) , which is expected to close in March, after which Montana Technologies will trade on the NASDAQ under the ticker symbol "AIRJ."

GE Vernova said it expects to spin-off from General Electric ( GE ) April 2.

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