Rainwater Tech – Innovator in Rainfall Era Engineering – to Turn into Publicly Traded as a result of a Enterprise Blend with dMY VI

AUSTIN, Texas & LAS VEGAS–(Enterprise WIRE)–Rain Improvement Systems, Inc. (“Rainwater Tech”), a chief in the enhancement of rainfall generation technology, and dMY Engineering Team, Inc. VI (NYSE: DMYS) (“dMY VI”), a publicly traded exclusive function acquisition company, these days introduced that they have entered into a business enterprise blend agreement.

Upon closing, the mixed company is expected to keep the Rainwater Tech identify. After the small business mixture is concluded, dMY VI will transform its trading ticker from DMYS to the new ticker symbol “RANY.”

H2o Provide and Demand from customers Imbalance Worsening

Increasing drinking water shortage difficulties are seen in practically each and every populated location on the globe. Crop yields are adversely impacted with insufficient accessibility to drinking water. Forest fires can disrupt whole states, unraveling generations of pure carbon seize. Obtain to potable drinking water has become a social justice and financial development problem not only in producing nations, but also in many produced nations. As geopolitical occasions have unfolded about the earlier calendar year, the environment is progressively targeted on water’s elemental function in human and animal survival, foods inflation, source chain disruption, and power. Option technologies to increase our water tables these kinds of as desalination and chemical cloud seeding possess significant environmental, energy density, political, transportation and scalability issues. Over the earlier couple of many years these options have largely unsuccessful to protect against the acceleration of drinking water scarcity all throughout The usa and Western Europe.

Rainwater Tech is led by entire world class pioneering experts, business owners and established general public business leaders collaborating on a joint mission to help rebuild the drinking water desk for cities, federal government and business. Third occasion trials of the pre-current technology, called floor-primarily based ionization for rain technology, have demonstrated the ability to enrich rainfall by as a great deal as 9%-18%, according to information experiences. At the identical time, the company’s industrial team has engaged and validated a potent customer base that is all set to leverage this rainfall ionization platform. Rainwater Tech is poised to acquire, innovate and scale rainfall technology technological innovation.

Rainwater Tech is led by co-founder and veteran community corporation CEO, Mike Nefkens, who beforehand ran the public industrial conglomerate Resideo Technologies and HPE Organization Expert services – a $20 billion, 100,000 person corporation. At HPE, Mr. Nefkens was individually involved in the closing of over $30 billion in professional contracts, supporting to push expansion and in the end culminating in the spin-off of the business at a $13 billion valuation in 2017. From 2018-2022, Mr. Nefkens was the CEO of Resideo Systems (NYSE: REZI), a spin-off of Honeywell (NYSE: HON) with somewhere around $5 billion in income and 12,000 staff. Mr. Nefkens has powerful world-wide Fortune 500 purchaser associations and is expert in scaling businesses and building fantastic teams.

Rainwater Tech has established a roadmap and several vectors for improvement, innovation and enhancement. The firm has accredited selected appropriate underlying IP as properly as secured the expert services of top engineers in the water technological know-how and rainfall technology room. More than the final number of a long time, scientific understanding of cloud condensation nuclei and the water cycle have highly developed to the phase of world wide agreement on the underlying mechanisms. This foundation will let Rainwater Tech’s workforce to expeditiously progress commercialization alliances concerning non-public industry and government, like firms seeking to minimize the impairment of property and land, supranational companies, localities, formulated nations uncovered to large water strain, and establishing nations that can make use of Planet Eco funds.

“Our eyesight is to be the 1st firm of its kind in the h2o and weather adaptation house by facilitating the return of rain and humidity where it’s wanted most,” said Mike Nefkens, CEO of Rainwater Tech. “This transaction enables us to establish, innovate and commercialize rainfall era technological know-how, backed by an professional management group and a most effective-in-course group of experts, engineers, and company progress leaders. We are excited to associate with dMY VI and leverage their working experience in the location of frontier technologies, and to acquire and launch to sector augmentation technology and make a beneficial effect for our traders and our earth.”

“Rainwater Tech’s rainfall ionization platform will be poised to perform a significant function in rising the drinking water desk for cities, federal government and field and is uniquely positioned to satisfy enormous industry demand from customers from non-public marketplace and governments close to the globe,” reported Niccolo de Masi, CEO of dMY VI. “We are happy to again corporations like Rainwater Tech that concentrate on substantial returns on invested money and, huge addressable marketplaces, and are comprised of a team with considerable management experience – with the potential to tackle 1 of humanity’s biggest issues.”

Transaction Overview

The transaction is envisioned to outcome in a professional forma valuation of $200 million.

Soon after having to pay transaction bills and the income thought, the balance of the about $241 million in funds held in dMY VI’s belief account (assuming no redemptions), will be used for funding advancement, innovation and professional scale.

The transaction, which has been unanimously authorized by dMY VI’s Board of Administrators, is subject matter to customary closing ailments.

Convention Connect with Information and facts

Rainwater Tech and dMY VI will host a joint investor convention get in touch with to go over the proposed transaction, December 22, 2022 at 08:00 am ET. The phone can be accessed at www.rainwatertech.com/traders and www.dmytechnology.com. The transcript of the trader convention phone will be submitted by dMY VI with the U.S. Securities and Trade Fee (“SEC”) and accessible on the SEC’s web site at www.sec.gov.

Administration and Governance

Rainwater Tech’s management team, led by CEO Mike Nefkens and Main Products Officer Keri Waters, supported by Senior Technological Advisors Scott Morris and Dr. Ted Anderson, will keep on to direct the community corporation adhering to the transaction.

Advisors

TCF Regulation Team PLLC is performing as legal counsel to Rainwater Tech.

Cleary Gottlieb Steen & Hamilton LLP is performing as legal counsel to dMY VI.

About Rain Enhancement Technologies, Inc.

Rainwater Tech was launched to supply the environment with reputable entry to water, one particular of life’s most crucial sources. To attain this mission, Rainwater Tech aims to establish, manufacture and commercialize ionization rainfall era know-how. This temperature modification technological innovation seeks to offer the globe with reputable obtain to h2o, and transform business, society and the planet for the superior.

About dMY Technologies Team, Inc. VI

dMY Technological innovation Group, Inc. VI is a distinctive goal acquisition firm started by Niccolo de Masi and Harry You for the purpose of effecting a merger, capital inventory exchange, asset acquisition, inventory purchase, reorganization or similar business mix with one or a lot more organizations. Its Class A popular inventory, units and warrants trade on the NYSE underneath the ticker symbols DMYS, DMYS.U and DMYS WS, respectively. Much more data can be uncovered at www.dmytechnology.com.

Further Info and Where by to Discover It

In link with the proposed business enterprise mix, dMY VI intends to file with the Securities and Trade Commission (the “SEC”) the Tender Present Assertion on Variety SC-TO (the “Agenda TO”) and other pertinent materials (together with the Schedule TO, the “Securities Legislation Disclosure Documents”). dMY VI’s stockholders are advised to read, when readily available, the Securities Legislation Disclosure Paperwork and any amendments thereto. dMY VI’s stockholders may possibly also acquire a copy of the Securities Regulation Disclosure Paperwork as soon as readily available, as very well as any other paperwork filed with the SEC by dMY VI, cost-free of charge at the SEC’s internet site at www.sec.gov. Before producing any expenditure selection, investors and stockholders of dMY VI are urged to read the Securities Regulation Disclosure Files and all other pertinent components submitted or that will be submitted with the SEC in relationship with the proposed company blend simply because they will consist of essential information about the proposed organization mixture and the functions to the proposed small business mixture.

No Offer you or Solicitation

This push release is for informational needs only and shall not constitute an offer you to market or the solicitation of an provide to acquire any securities, nor shall there be any sale of securities in any jurisdiction in which the provide, solicitation or sale would be unlawful prior to the registration or qualification underneath the securities regulations of any these jurisdiction.

Disclaimers

Particular statements manufactured in this launch are “forward-on the lookout statements” inside the indicating of the “safe harbor” provisions of the United States Personal Securities Litigation Reform Act of 1995 with regard to the proposed small business mixture between dMY VI and Rainwater Tech. Words and phrases or phrases this kind of as “anticipate,” “believe,” “continue,” “estimate,” “expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “will” or related words or phrases, or the negatives of those words and phrases or phrases, may identify ahead-wanting statements, but the absence of these words does not automatically signify that a assertion is not forward-on the lookout. These ahead-on the lookout statements include, but are not constrained to, statements about estimates and forecasts of other economical and general performance metrics and projections of sector opportunity. These statements are based mostly on different assumptions, no matter whether or not discovered in this presentation, and on the latest expectations of the respective administration of dMY VI and Rainwater Tech and are not predictions of true efficiency. These ahead-searching statements are supplied for illustrative reasons only and are not supposed to provide as, and need to not be relied on by an trader as, a promise, an assurance, a prediction or a definitive statement of simple fact or chance. True gatherings and instances are hard or difficult to forecast and will vary from assumptions. Several actual functions and circumstances are past the control of dMY VI and Rainwater Tech.

The pitfalls and uncertainties consist of, but are not confined to: foreseeable future running or economical results variations in domestic and foreign company, marketplace, economical, political, and lawful problems the inability of the events to productively or well timed consummate the proposed small business mixture, which include the hazard that any regulatory approvals are not obtained, are delayed or are subject to unanticipated situations that could adversely have an affect on the combined corporation or the envisioned added benefits of the proposed company mix failure to recognize the predicted gains of the proposed organization mix dangers related to the overall performance of Rainwater Tech’s potential technological know-how or company and the timing of predicted small business or money milestones the volume of redemption requests designed by dMY VI’s stockholders the means of dMY VI or Rainwater Tech to issue fairness or fairness-connected securities or acquire financial debt funding in relationship with the proposed business enterprise mix or in the future if the proposed organization combination’s gains do not fulfill the anticipations of traders or securities analysts, the marketplace value of dMY VI’s securities or, adhering to the closing, the put together entity’s securities, may well drop expected added benefits of the enterprise blend and pursuing the consummation of the proposed business enterprise blend, the combined corporation will incur significant improved costs and administrative burdens as a general public enterprise, which could negatively effects its organization, economical problem and effects of operations.

Additional challenges relevant to dMY VI and Rainwater Tech contain, amongst other individuals:

• Rainwater Tech can offer no assurance of the success and achievements of ionization rainfall technology technological know-how in escalating precipitation
• Rainwater Tech has no operating history or revenues, which can make it tough to forecast its long term effects of operations
• The execution of Rainwater Tech’s business model, together with technologies or profitability of its products and expert services, is not but established
• The rain generation market is in its early levels and is risky, and if it does not acquire, if it develops slower than Rainwater Tech expects, if it develops in a way that does not have to have use of Rainwater Tech’s products and services, if it encounters unfavorable publicity or if Rainwater Tech’s solution does not travel professional engagement, the progress of its company will be harmed
• Rainwater Tech has not yet verified its means to acquire and implement new systems, as nicely as the capacity to obtain and maintain intellectual residence protections for these technologies
• A significant portion of Rainwater Tech’s engineering is derived from community-supply mental property and as a result Rainwater Tech may facial area amplified opposition
• Even if Rainwater Tech is productive in acquiring rainfall technology units/know-how and executing its tactic, other rivals in the business may possibly realize technological breakthroughs which render Rainwater Tech’s technologies obsolete or inferior to other goods
• If Rainwater Tech’s platform fails to provide a broad, confirmed advantage in rainfall generation, its small business, economic ailment and long term prospective customers may be harmed
• Rainwater Tech’s running and fiscal success depends on assumptions and analyses created by third-occasion trials. If these assumptions or analyses confirm to be incorrect, Rainwater Tech’s genuine functioning benefits may well be materially distinctive from its forecasted outcomes
• Rainwater Tech’s estimates of marketplace option and forecasts of revenue technology and sector expansion, such as estimates of sector option and the potential to meet the provide and demand desires of our consumers, might demonstrate to be inaccurate, and even if the market in which it operates achieves the forecasted growth, Rainwater Tech’s company could fail to develop at very similar fees, if at all
• Rainwater Tech might be unable to effectively manufacture its solutions or scale up production of its items in enough amount and good quality, in a timely or charge-helpful way, or at all. Unforeseen troubles linked with scaling up and developing rainfall technology programs at commercially practical stages could negatively impact Rainwater Tech’s economic ailment and outcomes of functions
• Rainwater Tech could endure disruptions, outages, problems and other effectiveness and high quality difficulties with its rainfall generation devices or the infrastructure on which it depends
• Provide chain concerns, together with a lack of ample source or manufacturing capability for its units, could have an adverse affect on its small business and functioning benefits
• If Rainwater Tech simply cannot successfully execute on its system, like in response to modifying client desires and new technologies and other industry necessities, or accomplish its objectives in a well timed fashion, its business enterprise, money condition and success of operations could be harmed
• Rainwater Tech’s failure to correctly develop and develop its gross sales and marketing abilities could damage its potential to enhance its shopper foundation and attain broader current market acceptance of its rain technology know-how
• The danger of 3rd get-togethers asserting that Rainwater Tech is violating their intellectual home rights
• Challenges relating to the creation and production of Rainwater Tech’s technological know-how, which include supply chain challenges to get hold of expected products, materials and spare sections to create and run its platform
• Rainwater Tech should overcome significant engineering, technological know-how, operations and climatological issues to produce consistent effects
• Rainwater Tech has not to date obtained statistically important outcomes, and faces pitfalls and uncertainties relating to its potential to attain statistically important final results and repeat success demonstrating its capability to enrich rainfall
• Threats relating to the outcome of competing technologies, which includes desalination and chemical-based mostly cloudseeding technological innovation, on Rainwater Tech’s small business
• Challenges relating to environmental and temperature disorders that are correlated with productive rainfall era, as perfectly as other ESG-similar matters
• Rainwater Tech could facial area legal responsibility for transforming environmental and/or temperature situations, together with difficulties resulting from excessive rain
• Dangers relating to the failures of Rainwater Tech’s clients, each private and public, to meet up with payment obligations, such as refusal to shell out for rainfall era providers that instantly or indirectly reward other close by functions
• Dangers of technique securities and info protection breaches
• Rainwater Tech is really dependent on its senior complex advisors, and its capacity to skill to catch the attention of, recruit, and retain senior management and other key workforce, as properly as discover certified labor with the distinct skills demanded to manufacture, run and advance the system, is crucial to its results if Rainwater Tech is not able to retain proficient, highly-experienced senior management and other key workforce or draw in them when desired, it could negatively affect its organization
• Challenges pertaining to potential modifications in legislative and regulatory environments that may well limit the scope of Rainwater Tech’s market, which includes land restriction guidelines and its skill to acquire and preserve permits
• Rainwater Tech could experience political and social opposition to its business enterprise and routines
• Following the consummation of the Organization Combination, the blended organization will incur substantial greater expenses and administrative burdens as a public company, which could negatively impact its business enterprise, financial issue and effects of operations
• Rainwater Tech’s achievements could be impacted by the inability of the events to efficiently or timely consummate the proposed Business enterprise Blend, which includes the hazard that any essential regulatory approvals are not acquired, are delayed, or are topic to unanticipated ailments that could adversely have an impact on the combined enterprise or the expected advantages of the proposed Business enterprise Combination and
• If the Business enterprise Combination’s advantages do not satisfy the anticipations of traders or securities analysts, the market place price of dMY VI’s securities or, next the closing, the mixed entity’s securities, may possibly decline.

You need to very carefully take into account the challenges and uncertainties that will be described in the Securities Regulation Disclosure Files and any amendments thereto, at the time obtainable.

Forward-searching statements are subject matter to identified and unknown dangers and uncertainties and are based mostly on likely inaccurate assumptions that could trigger genuine final results to vary materially from those people anticipated or implied by the ahead-on the lookout statements. Our actual final results could vary materially from people expected in ahead-hunting statements for lots of motives. Accordingly, you must not unduly rely on these forward-on the lookout statements, which communicate only as of the day of this presentation. Other than as necessary by regulation, we undertake no obligation to publicly revise any ahead-seeking statement to replicate circumstances or situations right after the date of this presentation or to replicate the prevalence of unanticipated events.