The COP Collection
Fostering big breakthroughs – one handshake at a time
Where do most technological breakthroughs happen? The myth says it’s an individual having a eureka moment alone in a lab. The reality is that breakthroughs happen when you bring good ideas together. But how do you do that?
One of the most important ways is through partnership and collaboration. For those working on the energy transition, it has become increasingly clear that no single entity or organization can do it alone. A powerful example of what this can look like is AirJoule LLC. This new joint venture between GE Vernova and Montana Technologies Corporation is developing transformative climate technology that is solving not just one climate problem but two: soaring demand for energy-hungry air conditioning and water scarcity.
In an energizing discussion with Matt Jore, Founder and Chief Executive Officer of Montana Technologies, and Limor Spector, President of Ventures and Incubation for GE Vernova, we delved deeper into this important question of how partnerships focused on new innovative technologies can help accelerate the energy transition. Matt is an inventor and entrepreneur with more than 30 years’ industry experience and Limor is a seasoned technology people leader with global innovation, engineering and R&D incubation responsibilities.
Independently, both organizations were working on solutions in this space but when they discovered each other, they realized their respective IP fit together like puzzle pieces. “Our Advanced Research Center had been working for several years on a project for the US Government and had developed a significant start towards a water delivery vehicle for troops that we were bent on commercializing for our customer,” explains Limor Spector, President of Ventures and Incubation for GE Vernova. “Each partner brought different parts of the IP needed for a full solution. That interlocking IP and the need for commercialization outside our core businesses made for a very compelling story for us to partner together.” Montana Technologies has developed the AirJoule® dehumidification, air conditioning, and atmospheric water harvesting technology. At the same time, GE Vernova was advancing its own Air2Water program for the US military. Incorporating GE Vernova’s innovations into AirJoule® technology is helping to enhance the performance of the JV’s energy-saving solution, while also increasing its atmospheric water harvesting.
“Each partner brought different parts of the IP needed for a full solution. That interlocking IP and the need for commercialization outside our core businesses made for a very compelling story for us to partner together.”
Limor Spector,
President of Ventures and Incubation, GE Vernova
Team working on Air2Water technology at GE Vernova Advanced Research Center. From left to right: Dave Moore, Nick Soll, Sulaimon “Tayo” Adegunju, Sam McGuigan, Dave Vanier, and Marcus LaPorte
Matching Missions
It wasn’t only the technologies that were complementary. Both companies are committed to the important climate work they are doing. According to the International Energy Agency, air conditioning currently accounts for 20% of all electricity used in buildings and 10% of all electricity used worldwide. By 2050, demand for air conditioning is set to triple.¹ “That’s simply unsustainable,” says Matt Jore, Chief Executive Officer of Montana Technologies. “But, if you can reduce the energy consumption of air conditioning by 50% or 75%, that will make a big dent on greenhouse gas emissions.” What’s more, a big part of air conditioning is managing humidity, which itself is a growing problem. In fact, Jore says, “humidity in the air is one of the biggest challenges facing humanity, as it will continue to increase as humans continue to heat the earth and it is also a huge energy drain on conventional air conditioning systems. That’s what AirJoule addresses.” At the same time, clean drinking water is increasingly scarce. The World Resources Institute estimates that at least half the world’s population lives under highly water-stressed conditions for at least one month of the year,² while the UN forecasts that the global urban population facing water scarcity will double by 2050.³
Air conditioning accounts for
10%
of all electricity used worldwide
GE Vernova and Montana Technologies launch AirJoule Joint Venture
AirJoule® technology turns the challenges of humidity into an opportunity by harvesting water from the air to produce pure distilled water. Jore explains that this distilled water is needed by a wide range of industries including semiconductors, pharmaceuticals and green hydrogen. “The market, in terms of economics for distilled and potable water, is expected to become as large as air conditioning … which is approaching half a trillion dollars in total addressable market. As an innovator in this field, we’re hoping to contribute with the team at GE Vernova, to help address this global water scarcity problem,” Jore says. “It's our shared mission through this joint venture to change the world – and to do it in these two very critical, big problem areas that will help lead to success,” says Jore.
“if you can reduce the energy consumption of air conditioning by 50% or 75%, that will make a big dent on greenhouse gas emissions.”
Matt Jore,
Chief Executive Officer, Montana Technologies
Reflecting on his 30 years of building innovative product businesses, Jore states, “I would never go it alone again.” He explains that partnerships are an accelerator and “for partnerships to work, it’s important to find like-minded people, good people who are motivated by these higher goals. The GE Vernova team has people like that, and that means we are all working together in the same direction.” In fact, because of Jore’s deep belief in the power of partnerships, his reach is across the ecosystem as well. He explains “we're trying to do this in a smart way that induces partnerships, not competition … this must be a win-win-win.” For her part, Spector proudly points to GE Vernova’s dual mission to decarbonize and electrify the world by becoming the leading energy transition innovator. She explains that GE Vernova has tremendous technology both across the businesses and in the Research Center, where there are more than 250 researchers working across multiple disciplines such as aerodynamics and thermosciences, AI, robotics, control and optimization, and more. The Ventures and Incubation team is looking for entrepreneurial leaders like Jore “who not only work incredibly well together, but also bring a unique mix of confidence, resilience and passion who can help us extend and develop that technology.”
“we're trying to do this in a smart way that induces partnerships, not competition … this must be a win-win-win..”
Matt Jore,
Chief Executive Officer, Montana Technologies
Building up good ideas starting with the customer
Yet, even the best working relationship isn’t enough. “You must present customers with a value proposition that meets a genuine and pressing market need. That is crucial for success,” says Spector. She explains that the Ventures and Incubation group not only brings its own innovations to partnerships like this, but also its commercial expertise and relationships to fast track the progress.
AirJoule team members with the P5 prototype in Polson, Montana. From left to right: Hao Huang, Bryan Barton, Matt Grandbois, Bobby Carbonell, Matt Olsen, Kunjan Khambhati and Jonathan Tracy
“We leverage every connection we have and think about every structure in the commercial deal toolkit to get those first customers, to get those initial pilots, and then convert them into real, recurring revenue contracts.”
Limor Spector,
President of Ventures and Incubation, GE Vernova
On a more operational side, she says, “GE Vernova leverages its customer reach, its scale-up capability, and its manufacturing and supply chain expertise to support partner companies’ market readiness. This is what distinguishes our offering from a more conventional venture capital operation.”
Accelerating innovation today with an eye to future energy technologies
While both Spector and Jore are focused on driving success with the AirJoule joint venture, we briefly discussed future energy innovations. Spector says there is customer interest in grid technologies, from power conversion to energy storage. “The grid infrastructure is aging and the way the grid is working today - multi-directional - as opposed to energy flowing all the way from the utilities to the end customer means we have a multitude of technology challenges and opportunities.” Jore is of course focused on energy efficiency, especially with the anticipated exponential rise in energy and cooling demand driven by data center construction for artificial intelligence. However, when thinking about exciting technologies, he also is looking at the supply side. While renewables, natural gas and other conventional sources have a role to play, he has his eye on nuclear fusion. “I hope it comes sooner rather than later because it's clean and materials used, mainly deuterium recovered from seawater, would be abundant.”
Given the short time horizon for action on climate change, Jore points to collaboration as a key enabler for speed to market. “With great partnerships like this one, we will be able to accelerate. Going from one prototype to mass production, scaling like that, is the biggest challenge, and another reason why these partnerships, where one plus one equals 10 - to quote my good friend and leader of the GE Research team, Dave Moore - are so important, because we need to scale it quickly,” says Jore.
P5 prototype located at the Montana Technologies test facility in Polson, Montana
"Going from one prototype to mass production, scaling like that, is the biggest challenge, and another reason why these partnerships, where one plus one equals 10 - to quote my good friend and leader of the GE Research team, Dave Moore - are so important, because we need to scale it quickly.”
Matt Jore,
Chief Executive Officer, Montana Technologies
Speed, scale, complementary IP, a shared mission, and a commitment to doing work well – all these elements are crucial to driving the breakthrough innovations essential to the energy transition and decarbonization. Follow our COP Collection for more insights on climate and the energy transition.
