Diverse Group of Individuals With Deep
Scientific, Economic, and Geopolitical Expertise Will Provide
Further Support for the Growth and Development of AirJoule®
Technology
RONAN,
Mont., May 1, 2024 /PRNewswire/ -- Montana
Technologies Corp. (NASDAQ: AIRJ) ("Montana") today announced that it has
appointed Mr. Kyle Derham, Partner
at Rice Investment Group, to serve on its Board of Directors. Mr.
Derham joins the following individuals on the Board:
- Pat Eilers, Founder and Managing
Partner of Transition Equity Partners;
- Ajay Agrawal, Senior Vice
President, Global Services, Business Development and Chief Strategy
Officer at Carrier Global Corporation;
- Max Baucus, Former Ambassador to
China and Six-Term United States
Senator from the State of
Montana;
- Paul Dabbar, Former Undersecretary of the Department of Energy
for Science and Current Chief Executive Officer and Co-Founder of
Bohr Quantum Technology;
- Matt Jore, Chief Executive
Officer of Montana Technologies;
- Stu Porter, Founder, Chief
Executive Officer and Chief Investment Officer of Denham Capital;
and
- Dr. Marwa Zaatari, Founder and
Chief Scientist of D-Zine Partners.
In addition, Montana has named
Mr. Eilers as Chairman of the Board.
Matt Jore, CEO and Director of
Montana, said, "We are humbled and
delighted to benefit from the confidence and support of such a
diverse group of accomplished individuals on the Board. Their deep
technical, business, and geopolitical expertise will provide
valuable guidance and perspectives as we focus on deploying the
AirJoule® technology on a global scale to provide
low-cost comfort cooling and pure water from air, offering a
potential solution to water scarcity around the world."
Montana currently maintains an
international partnership with BASF for the supply of its
proprietary water harvesting materials, a 50/50 joint venture with
GE Vernova to provide AirJoule® components and
modules globally, a collaboration agreement with Carrier Global
Corporation to utilize AirJoule®
technology in HVAC applications, and a joint venture with CATL
to provide a conduit to Asia and
the Middle East. These
partnerships provide an unprecedented opportunity for Montana to rapidly scale
AirJoule® globally to respond to the increasing
demand for pure water and air conditioning.
Pat Eilers, Chairman of the
Board, said, "The addition of Kyle to such a talented and
experienced group of people on the Montana Board is a remarkable testimonial to
the important role that AirJoule® can play around
the world."
Additional Information About Board Members
Mr. Pat Eilers is the Chairman of Montana's Board. Mr. Eilers is the founder of,
and has served since 2019 as the Managing Partner of, Transition
Equity Partners ("TEP"), a private equity firm focused on the
energy and power transition, with a focus on
(i) renewable energy, (ii) energy storage, technology,
equipment and services, and (iii) transitional energy
infrastructure. Mr. Eilers has over 20 years of
investment experience focused on the energy and power
transition. Mr. Eilers served as Chief Executive Officer and
Director of Power and Digital
Infrastructure Acquisition Corp ("XPDI") from December 2020
until the completion of its merger with Core Scientific in
January 2022. He served as Chief Executive Officer and
Director of Power & Digital Infrastructure Acquisition II Corp
("XPDB") from December 2021 until the
completion of its merger with Montana Technologies LLC in
March 2024. Prior to founding TEP,
Mr. Eilers was a Managing Director on the BlackRock
Infrastructure Platform, where he also served as a member of the
Investment Committee for BlackRock's Global Renewable Power Fund,
Global Energy & Power Infrastructure Fund, and chaired the
Energy & Power Private Equity Fund. Prior to joining
BlackRock in 2016, he also worked at Madison Dearborn Partners
overseeing the firm's energy, power, and chemicals practices for
10 years. Mr. Eilers earned a Bachelor of Science in
Biology and Mechanical Engineering from the University of Notre Dame and a Master of Business
Administration from the Kellogg School of Management at
Northwestern University.
Mr. Ajay Agrawal is
the Senior Vice President of Global Services, Business Development,
and Chief Strategy Officer for Carrier Global Corporation
("Carrier"). He joined Carrier in October
2019, prior to its spin-off from United Technologies
Corporation ("UTC"). He is widely recognized as a results-oriented
leader with deep strategic and ESG expertise, strong global
experience, the ability to drive profitable growth, and the ability
to guide complex business transformations. Prior to joining
Carrier, Mr. Agrawal spent 14 years at UTC across multiple
divisions and corporate headquarters from 2005 to 2019. Prior to
joining UTC, he spent seven years with Bain & Company, a global
strategy consulting firm, where he led broad-based client
engagements with mid to large-size companies (both publicly and
privately equity held) across the industrial, healthcare, financial
services and retail sectors. Mr. Agrawal earned a Master in
Business Administration from Carnegie Mellon
University's Tepper School of
Business, where he earned their highest honor (Elliott Dunlop Smith Award). He also earned a
Ph.D. in Engineering from the University of
Missouri.
Mr. Max Baucus served
as a member of the Board of Managers of Montana Technologies LLC
prior to the merger with XPDB in March
2024. Mr. Baucus previously served as Ambassador of
the United States of America to
the People's Republic of China
from 2014 to 2017, after being nominated by then-U.S. President
Barack Obama. Ambassador Baucus
formerly served as the senior United
States Senator from Montana
from 1978 to 2014 and was Montana's longest serving U.S. Senator. While
in the Senate, Ambassador Baucus was Chairman and Ranking Member of
the Senate Committee on Finance (the "Finance Committee"). As
chairman of the Finance Committee, he was the chief architect of
the Affordable Health Care Act (ACA), which was signed into law by
President Obama on March 23, 2009. In addition, as chairman of
the Finance Committee, Ambassador Baucus led the passage and
enactment of the Free Trade Agreements with 11 countries. While
serving on the Senate Agriculture Committee, he led the
reauthorization for numerous farm bills. As a member of the
Committee on Environment and Public Works, he guided many highway
bills and other infrastructure legislation to passage as well as
leading the passage of The Clean Air Act of 1990. Before his
election to the U.S. Senate, Ambassador Baucus represented
Montana in the U.S. House of
Representatives from 1975 to 1978. Ambassador Baucus earned a
Bachelor's degree and Juris Doctor degree from Stanford University.
Mr. Paul Dabbar is the President and Chief Executive
Officer of Bohr Quantum Technology Corp, a quantum communications
company, and has served as its Chief Executive Officer since 2021.
Mr. Dabbar has served on the board of directors of Dominion
Energy, Inc. since November 2023 and
served on the board of directors of XPDI from
February 2021 until the completion of its merger with Core
Scientific in January 2022. He served on the board of
directors of XPDB from December 2021
until the completion of its merger with Montana Technologies LLC in
March 2024. Prior to Bohr Quantum,
Mr. Dabbar served as Under Secretary for Science at the
U.S. Department of Energy from 2017 to 2021, managing the
operations of, and investing capital at the seventeen
U.S. National Laboratories, conducting research and
development in energy, technology and the sciences. Mr. Dabbar
was previously a Managing Director in investment banking at
J.P. Morgan Chase & Co., in energy and
mergers & acquisitions from 1996 to 2017. Mr. Dabbar
was also previously a nuclear submarine officer in the
U.S. Navy. Mr. Dabbar earned a Bachelor of Science from
the U.S. Naval Academy and an Master in Business
Administration from Columbia
University.
Mr. Kyle Derham is a
Partner of Rice Investment Group, and he previously served as
President and Chief Financial Officer of Rice Acquisition Corp. I,
which merged with Archaea Energy and Aria Energy in 2021. After the
business combination, Mr. Derham served as a Director of Archaea
Energy until it was sold to bp in 2022. Mr. Derham also served as
Chief Executive Officer of Rice Acquisition Corp. II, which merged
with NET Power in 2023; he currently serves as a Director of NET
Power. Previously, Mr. Derham served as interim Chief Financial
Officer and strategic advisor to EQT Corporation from 2019 to 2021.
From 2017 to 2019, Mr. Derham served as Vice President, Corporate
Development and Finance of Rice Energy and Rice Midstream. Prior to
joining Rice Energy, Mr. Derham was an associate at First Reserve,
an energy-focused private equity fund, and prior to that, was an
investment banker at Barclays. Mr. Derham earned a Bachelor of
Science in Economics from the Wharton School at the University of Pennsylvania.
Mr. Matt Jore is the
Chief Executive Officer of Montana Technologies Corporation.
Mr. Jore founded Montana Technologies LLC, and served as
Chairman and Chief Executive Officer since its founding and until
the merger with XPDB in March 2024.
Prior to founding Montana Technologies LLC, Mr. Jore founded
Core Innovation and Jore Corporation, a power tool and accessories
manufacturer that generated in excess of $50 million in annual
revenue, which Mr. Jore previously led through a successful
initial public offering. Mr. Jore has over thirty years
of experience successfully founding and leading innovative
product-based companies. Mr. Jore holds a Bachelor of
Arts in Political Science and Economics, Business from University
of Montana.
Mr. Stu Porter served as a
member of the Board of Managers of Montana Technologies LLC prior
to the merger with XPDB in March
2024. Mr. Porter currently serves as the Chief Executive
Officer and Chief Investment Officer of Denham Capital, which he
founded, and serves on Denham Capital's Investment Committee and
Valuation Committee. Prior to founding Denham Capital in 2004,
Mr. Porter was a founding partner of Sowood Capital Management
LP and, prior thereto, was employed as a Vice President and
Portfolio Manager at Harvard Management Company, Inc., where he
focused on public and private transactions in the energy and
commodities sectors. Mr. Porter previously worked for Bacon
Investments and at J. Aron, a division of Goldman Sachs. While at
J. Aron, he worked on the Goldman Sachs Commodity Index desk. Prior
to joining J. Aron, Mr. Porter was a self-employed trader
at the Chicago Board of Trade and
was employed by Cargill Incorporated in Minnetonka, Minnesota in the Financial Markets
Division. Mr. Porter received a Bachelor of Arts from the
University of Michigan and a Master of
Business Administration degree from the University of Chicago Booth School of
Business.
Dr. Marwa
Zaatari co-founded D ZINE Partners in
November 2020 and has served as the
Chief Science Officer of D ZINE Partners since its founding. Prior
to co-founding D ZINE Partners, Dr. Zaatari served as the
Vice President of Building Solutions of enVerid Systems, Inc. from
January 2015 through May 2020. Prior to joining enVerid Systems, Inc.,
Dr. Zaatari served as a consultant of Trinity Consultants and as
the Chair of Indoor Air Quality Procedure of the U.S. Green
Building Counsel ("USGBC"). Since May
2020, Dr. Zaatari has served as a member of the Board of
Advisors of enVerid Systems, Inc. Dr. Zaatari also serves as a
member of the Board of Directors of USGBC, as a member of the
Technical Advisory Committee of the USGBC Center for Green Schools
and as a member of various committees of the American Society of
Heating, Refrigerating and Air-Conditioning Engineers
("ASHRAE"), including vice chair for ASHRAE Standards 62.1 and the
Environmental Health Committee and a voting member for ASHRAE
Standard 241. Dr. Zaatari received a Ph.D. in Architectural and
Environmental Engineering from the University
of Texas at Austin and a master's degree in engineering
management from The American University of
Beirut, Lebanon, with a specialization in energy
management.
About Montana Technologies Corp.
Montana Technologies Corporation is a publicly traded company
that holds the intellectual properties that make up the
AirJoule® system, an atmospheric thermal energy
and water harvesting technology that provides efficient and
sustainable air conditioning and pure water from air. For more
information, visit www.mt.energy.
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SOURCE Montana Technologies