AirJoule Technologies Corporation

Greetings and welcome to the Airtel Technologies first quarter 2026 earnings call. At this time, all participants are in a listen only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note that this conference is being recorded. It's now my pleasure to turn the call over to your host, Tom Devine, Vice President of Investor Relations and Finance. Thank you. You may begin.

Thank you, and good morning. With me today for our first quarter of 2026 earnings call are Matt Jor, Chief Executive Officer, Pat Eilers, Executive Chairman, Brian Barton, Chief Commercialization Officer, and Stephen Pang, Chief Financial Officer. During this call, we will be referring to a presentation, which is available on the webcast platform and on the investor section of our website. I would like to point out that many of the comments made during the prepared remarks and during the Q&A section are forward-looking statements that involve risks and uncertainties that could affect our actual results and plans. Many of these risks are beyond our control and are discussed in more detail in the risk factors and the forward-looking statement sections of our filings with the SEC. Although we believe the expectations expressed are based on reasonable assumptions, they are not guarantees of future performance, and actual results or developments may differ materially. And now I will turn it over to Matt Jor.

Thanks, Tom. Good morning, everyone, and thank you for joining us for our first quarter 2026 earnings call. On our last earnings call in March, we framed 2025 as the year we built the foundation for commercialization through our initial deployments, at our joint venture with GE Vernova, and 2026 as the year we move from those one-off deployments to productized commercial sales. We are executing against that plan. So far in 2026, we've made disciplined progress on the AirJewel core platform, completed the build of our first AirJewel Prime full-scale system at our Newark, Delaware facility, and continued advancing customer engagements toward commercial pipeline building in 2027 and beyond. Before I describe that progress in more detail, I want to spend a little time on the macro. The water resilience tailwinds we discussed on prior calls have not slowed. They've actually accelerated. Water scarcity is becoming more central to industrial planning every quarter. In recent weeks, multiple hyperscalers have abandoned multibillion-dollar data center projects in the face of community opposition tied to water access. Institutional investors representing more than a trillion dollars in assets have pressed those same companies for site-by-site disclosure of their water use. When the largest cloud operators in the world walk away from projects of that scale over water access, the signal to the rest of the market is unmistakable. At least a dozen US states have introduced data center moratorium bills this year, and Bloomberg has documented that roughly two-thirds of the data centers built in the US since 2022 sit in areas already under measurable water stress. Drought, regulatory pressure, and the accelerating water demands of compute and infrastructure are all intensifying, not abating. This is exactly the problem AirJewel was built to help solve. Now let's discuss how AirJewel fits into this picture, particularly with respect to data centers. We applaud the work the industry has done to drive water consumption down. Closed-loop systems, direct-to-chip cooling, and continuous improvements in Water Use Effectiveness, or WUE, are real progress. The most efficient WUE levels we see today are on the order of 0.1 liters per kilowatt hour at the most advanced hyperscaler facilities. However, These facilities are hundreds of megawatts or even gigawatts in scale. So the absolute volume of water consumed is still substantial and requires significant water permits. Beyond the initial draw to fill the system, there are continuing requirements for closed-loop water replenishment, humidification, and domestic uses. For the millions of gallons of water that even the most efficient data centers still consume, AirJewel can reduce dependence on multiple supply and aquifer access through on-site water generation. Turning back to our progress so far in 2026, on productization, our AirJewel core platform improved performance and durability through systematic optimization of airflow, thermal management, and contactor coding process. The core design is essentially locked. On certification, we've advanced our UL and water quality work to ensure our systems are compliant with the most stringent regulatory standards. Brian will share more on that in just a moment. On our flagship prime platform, our first full scale air dual prime system has been built at our Newark Delaware facility and is now operational. This is a meaningful milestone. The prime is a system we engineered for scale from day one, and we'll spend more time discussing it shortly. On commercialization, we're seeing strong customer demand across an important range of markets. And Brian will walk through where we are deepening the most active engagements. On the balance sheet, our combined cash position supports our operations through 2027 with no debt. And Stephen will provide more detail in a minute. The bottom line is this. We're on course. We've developed our technology and are now a product company. Our internal organization reflects that with strong product engineering leadership and every work stream aligned to a product roadmap. What we're doing this year lays the foundation for scaled commercial pipeline building in 2027 and beyond. With that, I'd like to turn it over to Mr. Pat Eilers, our executive chair.