AirJoule Signs Kubota for Texas and California Housing Sales
The water-from-air company booked a $0.12 a share loss in the second quarter as it commissioned its first full-scale Prime system and lifted its 2026 spend plan.
AirJoule Technologies Corporation (AIRJ), a platform that generates water from air, entered an exclusive sales agreement with Kubota Corporation under which Kubota will act as the exclusive sales channel for AirJoule systems into multi-unit residential developments in Texas and California.
Two AirJoule Core systems are slated for sites near Corpus Christi, Texas, and Irvine, California, with deployment set to begin in the third quarter of 2026. Kubota, founded in 1890, operates in more than 150 countries and has expertise in wastewater treatment, water reclamation, pipe systems, and operations and maintenance. Founder and Chief Executive Officer Matt Jore said the partnership enables deployment in two states where water is a binding constraint on new housing.
The commercial step followed a product milestone. AIRJ commissioned its first full-scale AirJoule Prime system at its Newark, Delaware, facility in May 2026, after completing the first full-scale build in the prior quarter. The system has operated outdoors since commissioning, and the company said performance is progressing toward a published specification of up to 2,000 liters per day at less than 200 watt-hours per liter when paired with low-grade waste heat. AIRJ expects to ship that Prime system to Europe in the third quarter of 2026. Additional Prime units are under construction at Newark for on-site optimization and customer demonstrations.
The company also completed the Net Zero Innovation Hub for Data Centers technology acceleration program in June 2026, having started it in January. Over the program it worked with Hub members including Google, Microsoft, Data4, Danfoss, Schneider Electric, and Vertiv to align the waste-heat-to-water platform with data center operating requirements. The first Prime is to demonstrate conversion of low-grade waste heat into distilled water in Europe.
International work advanced as well. In July 2026, AIRJ received one of the first Expo City Dubai Green Licences, admitting it to the inaugural cohort of the UAE’s Green Innovation District. In early August, it shipped an AirJoule Core system to the UAE for a demonstration program beginning at Expo City Dubai, with subsequent placements across emirates. An AirJoule Core system is installed and operating at GE Vernova’s Advanced Research Center Frontier Campus in Niskayuna, New York, opened in July 2026. The company said the installation reflects GE Vernova’s continued support for the 50/50 joint venture.
Head-to-head testing of the AirJoule Core DH dehumidification system against an incumbent desiccant wheel continued to show energy savings across the target humidity range. Core DH targets a 1.2 million-unit installed base of conventional desiccant wheels in dry storage and cold storage facilities operating between 30% and 50% relative humidity. AIRJ said it is deploying Core DH systems to strategic customers beginning in the third quarter of 2026. The company is also reducing and simplifying the bill of materials on both platforms and working through a defined sequence toward contract manufacturing.
For the three months ended June 30, 2026, AIRJ reported a net loss of $8.53 million, or $0.12 a share, versus net income of $2.51 million, or $0.04 a share, a year earlier. Loss from operations was $4.11 million. Equity loss from the AirJoule, LLC joint venture widened to $2.51 million from $2.09 million a year earlier. Research and development expense fell to $172,807 from $401,623. Sales and marketing expense rose to $118,047 from $7,794. General and administrative expense was $3.82 million.
Cash, cash equivalents, and restricted cash ended June 30, 2026, at $41.42 million, including $14.2 million of net proceeds from a registered direct offering completed in June 2026. Combined cash across AirJoule Technologies and the joint venture was $43.0 million with no debt. AIRJ funded $2.5 million in capital contributions to the joint venture in the second quarter; total joint venture operating expenses for the quarter were approximately $5.0 million.
The company now expects approximately $27 million to $28 million of combined cash spend across AirJoule Technologies and the joint venture during 2026, compared with the approximately $25 million communicated previously. The increase reflects greater commercialization activity at the joint venture as AIRJ pursues multiple projects and deployments across different applications. AIRJ said it has sufficient liquidity to fund operations, the joint venture, and planned commercial deployments into 2028.
Remaining 2026 priorities include optimizing the first Prime system, bringing additional Prime units online at Newark, deploying Core DH systems, starting the two Kubota Core deployments, shipping the first Prime to Europe, executing the UAE demonstration program, and completing design-for-manufacturing and bill-of-materials work on both platforms.
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