Carrier Global Corporation announced entry into a binding term sheet with Montana Technologies LLC ("Montana") to develop and commercialize Montana's transformational AirJoule dehumidification and cooling technology. AirJoule's dehumidification technology substantially improves air conditioning efficiency by harvesting water and thermal energy from air. The proprietary method and design can reduce electricity consumption as compared to conventional air conditioning cooling systems, resulting in a corresponding reduction in carbon emissions as well as a reduction, or in some cases elimination, of refrigerants.