DURHAM, N.C., March 26, 2025 (GLOBE NEWSWIRE) -- 374Water Inc. (NASDAQ: SCWO) ("374Water") (the "Company"), a global leader in waste destruction technology for the municipal, federal, and industrial markets, today announced that it will participate in the Gabelli Funds' 11th Annual Waste, Recycling & Environmental Services Symposium taking Place Thursday, April 3rd, 2025, at The Harvard Club, New York City. This timely conference will feature presentations by senior management of leading companies, with an ...

DURHAM, N.C., March 20, 2025 (GLOBE NEWSWIRE) -- 374Water Inc. (NASDAQ: SCWO) ("374Water") (the "Company"), a global leader in waste destruction technology for the municipal, federal, and industrial markets, today announced that it will report financial results for the fourth quarter and full year ended December 31, 2024, after market close on Thursday, March 27, 2025. Following this, the Company will hold a conference call at 4:30 p.m. Eastern time to discuss its results for the fourth quarter and full yea ...

Results Underscore the Robustness of AirSCWO Technology in Eliminating PFAS and Transforming Complex Waste Streams DURHAM, N.C., March 18, 2025 (GLOBE NEWSWIRE) -- 374Water Inc. (NASDAQ: SCWO) ("374Water") (the "Company"), a global leader in waste destruction technology for the municipal, federal, and industrial markets, today announced the successful treatment and destruction of Light Non-Aqueous Phase Liquid (LNAPL) impacted with Per- and Polyfluoroalkyl Substances (PFAS) using the Company's proprietary A ...

Core Insights - 374Water Inc. has appointed Raj Melkote as the new Chief Technology Officer, bringing over 30 years of experience in R&D and engineering [1][2][3] - Melkote's expertise includes product commercialization, new product development, and process improvements in high-volume manufacturing environments [2][3] - The company aims to accelerate the development of its AirSCWO technology to address global wastewater treatment and waste management challenges [3][4] Company Overview - 374Water Inc. is a global leader in waste destruction technology, focusing on municipal, federal, and industrial markets [1][4] - The company's AirSCWO technology efficiently destroys and mineralizes a wide range of organic wastes, producing safe dischargeable water, mineral effluent, vent gas, and recoverable heat energy [4] - 374Water is dedicated to innovative waste treatment solutions, aiming to create a greener future and eliminate harmful pollutants [4]

Core Insights - 374Water Inc. has demonstrated its AirSCWO technology's capability to achieve 99.9999% destruction of PFAS in AFFF, positioning it as a scalable solution for waste management [1][3] - The article published in the NGWA Journals highlights the challenges of treating AFFF and emphasizes the need for effective destruction technologies [1][2] Company Overview - 374Water Inc. is a global leader in waste destruction technology, focusing on municipal, federal, and industrial markets [1][4] - The company's AirSCWO technology is designed to efficiently destroy a wide range of organic wastes, producing safe dischargeable water, mineral effluent, and recoverable heat energy [4][5] Industry Context - AFFF is widely used in firefighting across various sectors but contains PFAS, which are persistent environmental pollutants posing health risks [2] - Regulatory bodies like the U.S. Department of Defense and the European Union are enforcing stricter regulations, including a transition to fluorine-free foams by 2024 [2] Market Opportunity - The significant challenges associated with AFFF waste management present a growth opportunity for 374Water to expand its services [3] - The demand for sustainable and cost-effective waste destruction solutions is increasing, particularly in the U.S. DoD and civil aviation sectors [3]

Core Insights - 374Water Inc. has demonstrated its AirSCWO technology's capability to achieve 99.9999% destruction of PFAS in AFFF, positioning it as a scalable solution for waste management [1][3] - The article published in the NGWA Journals highlights the challenges of treating AFFF and emphasizes the need for effective destruction technologies [1][2] Company Overview - 374Water Inc. is a global leader in waste destruction technology, focusing on municipal, federal, and industrial markets [1][4] - The company's AirSCWO technology is designed to efficiently destroy a wide range of organic wastes, producing safe dischargeable water, mineral effluent, and recoverable heat energy [4][5] Industry Context - AFFF, which contains PFAS, is widely used in firefighting across various sectors but poses significant environmental and health risks due to the persistence of PFAS [2][3] - Regulatory bodies like the U.S. Department of Defense and the European Union are enforcing stricter regulations, including a transition to fluorine-free firefighting foams by 2024 [2][3] Market Opportunity - The growing demand for efficient and sustainable waste destruction solutions presents a significant opportunity for 374Water to expand its services [3] - The company aims to address the long-term liabilities associated with traditional disposal methods by offering advanced PFAS destruction technologies [3]

Core Viewpoint - 374Water Inc. is advancing its AirSCWO technology deployment in partnership with Orange County Sanitation District, aiming to enhance waste management practices and potentially eliminate the need for offsite biosolids reuse [2][4][5] Group 1: Project Overview - The AirSCWO 6 system will be deployed at OC San's Plant No. 1, which processes over 180 million gallons of wastewater daily for more than 2.6 million people [2][5] - The project is expected to generate approximately $1.3 million in revenue during the second to fourth quarters of the year [4] - The manufacturing of the AirSCWO 6 system is scheduled for completion in March 2025, with factory acceptance testing to follow in May 2025 [7] Group 2: Operational Plan - 374Water engineers will manage the first six months of operations, conducting a Controlled Performance Study to evaluate the system's performance under commercial conditions [5] - After the initial six months, OC San staff will take over operations, with continued support from 374Water engineers for an additional six months [5] - Following one year of operations, OC San will assess the results to consider upgrading to the larger AirSCWO 30 system, which can handle 30 wet tons of biosolids per day [5] Group 3: Future Expansion - OC San plans to potentially install up to five AirSCWO 200 systems to manage solid waste from its Huntington Beach facility, indicating a long-term commitment to innovative waste management strategies [5][6] - This partnership highlights OC San's dedication to advancing wastewater treatment and resource recovery practices [6][8]

Core Viewpoint - 374Water Inc. is participating in a Department of Defense project to develop commercial-scale technology solutions for destroying PFAS contaminated wastes, leveraging its AirSCWO technology [1][4][5] Company Overview - 374Water Inc. (NASDAQ:SCWO) is a global leader in organic waste destruction technology, focusing on municipal, federal, and industrial markets [1][11] - The company's AirSCWO technology is designed to efficiently destroy a wide range of organic wastes, producing safe dischargeable water streams and recoverable heat energy [11] Industry Context - PFAS, known as "forever chemicals," are hazardous synthetic chemicals that pose significant risks to human health and the environment, leading to stringent regulations for their remediation [5][7] - The U.S. National Defense Authorization Act mandates the transition to fluorine-free firefighting foams at DoD installations by October 2024, highlighting the urgent need for effective PFAS destruction technologies [5][7] Project Details - The collaboration involves 374Water, Arcadis, and Clean Earth, with demonstrations of AirSCWO technology planned at Clean Earth's facility in Detroit, MI [4][6] - The project aims to provide treatment options for DoD installations impacted by PFAS, with a focus on commercial-scale applications [3][4] Technology Capabilities - AirSCWO technology has demonstrated the ability to destroy over 99.99% of PFAS compounds within seconds, transforming hazardous waste into clean water and mineral by-products [8][9] - The technology has been successfully applied to various waste streams, including Aqueous Film-Forming Foam, Granular Activated Carbon, and Landfill Leachate [6][8]

Core Viewpoint - 374Water Inc. has entered into a securities purchase agreement to raise approximately $12.2 million through a registered direct offering of common stock and warrants [1][2]. Group 1: Offering Details - The company will sell 9,783,496 shares of common stock and warrants to purchase 14,675,244 shares of common stock [1]. - The exercise price for the warrants is set at $1.125 per share, and they will expire five years from the initial exercise date [1]. - The purchase price for one share of common stock and 1.5 warrants is $1.25 [1]. Group 2: Financial Aspects - Gross proceeds from the offering are estimated to be approximately $12.2 million before deducting placement agent fees and other estimated expenses [2]. - The offering is expected to close on or about November 18, 2024, pending customary closing conditions [2]. Group 3: Legal and Regulatory Information - D. Boral Capital LLC is acting as the exclusive placement agent for the offering [3]. - The offering is conducted under a "shelf" registration statement filed with the SEC, which was declared effective on December 30, 2022 [4]. Group 4: Company Overview - 374Water Inc. is a global cleantech company focused on innovative solutions for wastewater treatment and waste management [6]. - The company's AirSCWO technology is designed to efficiently destroy and mineralize a wide range of organic wastes, producing safe dischargeable water streams and recoverable heat energy [6]. - 374Water aims to assist customers in meeting discharge requirements, reducing disposal costs, and minimizing litigation risks [6].

Financial Performance - Revenues for the three months ended September 30, 2024, increased to $81,490, a 563% increase from $12,290 in the same period of 2023[122] - For the nine months ended September 30, 2024, revenues decreased to $433,589, a 50% decline from $863,611 in the same period of 2023[130] - Net loss for the three months ended September 30, 2024, increased to $2,701,817, a 56% increase from $1,731,431 in the same period of 2023[128] - Net loss for the nine months ended September 30, 2024, increased to $7,658,602, a 52% increase from $5,022,351 in the same period of 2023[136] Expenses - Cost of revenues decreased to $42,404 for the three months ended September 30, 2024, down 76% from $178,680 in the same period of 2023[123] - Research and development expenses rose to $424,579 for the three months ended September 30, 2024, a 34% increase from $317,573 in the same period of 2023[127] - General and administrative expenses increased to $1,022,284 for the three months ended September 30, 2024, up 89% from $541,697 in the same period of 2023[124] - Total operating expenses for the nine months ended September 30, 2024, increased to $7,692,386, a 47% increase from $5,249,593 in the same period of 2023[130] - Professional fees surged to $499,010 for the three months ended September 30, 2024, a 325% increase from $117,543 in the same period of 2023[126] Cash Flow and Financing - For the nine months ended September 30, 2024, the company incurred a net loss of $7,658,602, with cash used in operations amounting to $7,497,734, an increase of $798,105 compared to the same period in 2023[144] - Cash used in investing activities for the nine months ended September 30, 2024 was $999,207, primarily due to an $861,597 increase in purchases of property and equipment[145] - The company received only $11,912 from financing activities for the nine months ended September 30, 2024, a significant decrease from $13,548,889 in the same period in 2023[146] - On November 11, 2024, the company's board approved a registered offering for the sale of units consisting of common stock and warrants, expected to close before year-end 2024[141] - The company has raised approximately $12,000 and $13,441,000 through ATM offerings during the nine months ended September 30, 2024, and year-end December 31, 2023, respectively[149] Future Outlook - The company anticipates continuing losses and negative cash flows from operations for the foreseeable future, indicating a need for additional financing[139] - Substantial doubt exists regarding the company's ability to continue as a going concern, necessitating additional debt or equity financing[138] - The company may face significant dilution of ownership for existing stockholders if additional financing is obtained at unfavorable terms[140] - The company is evaluating strategies to secure required additional funding for future operations[149] Operational Focus - The company is focused on commercializing its AirSCWO technology, with ongoing demonstrations in Orlando, Florida, targeting various waste streams including PFAS[120] - As of September 30, 2024, the company reported working capital of $4,484,164 and an accumulated deficit of $23,612,106[137]