AIR Global announced a $20 million investment in vaporization technology company Greentank Innovations, deepening a strategic partnership established in 2023. The investment gives AIR preferred shares based on a $170 million pre-money valuation, a warrant to increase its stake by an additional 20% over the next two years, a board nomination right, and enhanced commercial and technology access. AIR said the investment supports its growth strategy in reduced-risk nicotine products and its planned U.S. premarket tobacco product application for its Crown Switch vape.
AIR also released results from an independent pilot study of its Greentank-powered Crown Switch device, reporting low or non-detectable levels of several harmful or potentially harmful constituents in the aerosol. According to the company, carbon monoxide, benzene, and 1,3-butadiene were not detected, while formaldehyde, nickel, and other constituents were reported at lower levels than published data for certain FDA-authorized e-cigarettes. AIR said the preliminary findings will be presented at the 2026 Tobacco Science Research Conference and will form part of its PMTA submission, noting that additional testing is underway and future results may differ.
