374 Water Recaps Key Highlights from 2024 and Shares 2025 Outlook
374Water Inc. (NASDAQ:SCWO) concludes 2024 with a substantial $1.8 billion backlog and pipeline across municipal, federal, and industrial markets. The company's AirSCWO (AS) system, designed to destroy organic waste and contaminants, has been successfully deployed at Orlando's Iron Bridge Water Reclamation Facility. Key 2024 achievements include completing a $12.2 million capital raise, expanding laboratory facilities, and strengthening leadership with new executive appointments.
For 2025, the company plans to launch its Destruction-as-a-Service (DaaS) business model, with initial AS6 installations projected to generate $3-5 million annually. The company will manufacture multiple AS systems, including AS1, AS6, and AS30 models, while establishing strategic partnerships and expanding manufacturing capabilities to meet growing market demand.
374Water Inc. (NASDAQ:SCWO) conclude il 2024 con un notevole portafoglio di ordini di $1,8 miliardi e una pipeline nei mercati municipali, federali e industriali. Il sistema AirSCWO (AS) dell'azienda, progettato per distruggere rifiuti organici e contaminanti, è stato implementato con successo presso il'impianto di recupero delle acque di Iron Bridge a Orlando. Le principali conquiste del 2024 includono il completamento di un aumento di capitale di $12,2 milioni, l'espansione delle strutture di laboratorio e il rafforzamento della leadership con nuove nomine dirigenziali.
Per il 2025, l'azienda prevede di lanciare il suo modello di business Destruction-as-a-Service (DaaS), con le prime installazioni AS6 che si prevede genereranno annualmente tra $3 e $5 milioni. L'azienda produrrà diversi sistemi AS, tra cui i modelli AS1, AS6 e AS30, stabilendo nel contempo partenariati strategici e ampliando le capacità di produzione per soddisfare la crescente domanda di mercato.
374Water Inc. (NASDAQ:SCWO) concluye el 2024 con un sustancial backlog de $1.8 mil millones y una cadena de proyectos en los mercados municipal, federal e industrial. El sistema AirSCWO (AS) de la empresa, diseñado para destruir residuos orgánicos y contaminantes, se ha desplegado con éxito en la Planta de Recuperación de Agua Iron Bridge en Orlando. Los logros clave de 2024 incluyen la finalización de una recaudación de capital de $12.2 millones, la expansión de las instalaciones de laboratorio y el fortalecimiento del liderazgo con nuevos nombramientos ejecutivos.
Para 2025, la empresa planea lanzar su modelo de negocio Destruction-as-a-Service (DaaS), con las primeras instalaciones AS6 que se proyecta generarán entre $3 y $5 millones anuales. La empresa fabricará múltiples sistemas AS, incluyendo los modelos AS1, AS6 y AS30, mientras establece asociaciones estratégicas y expande sus capacidades de fabricación para satisfacer la creciente demanda del mercado.
374Water Inc. (NASDAQ:SCWO)는 2024년을 18억 달러의 상당한 미결주문과 함께 지자체, 연방 및 산업 시장 전반에 걸친 파이프라인으로 마무리합니다. 회사의 AirSCWO (AS) 시스템은 유기 폐기물과 오염 물질을 제거하도록 설계되었으며, 올랜도의 아이언 브리지 수처리 시설에 성공적으로 배치되었습니다. 2024년 주요 성과로는 1,220만 달러의 자본 조달 완료, 실험실 시설 확장, 새로운 임원 임명으로 리더십 강화가 포함됩니다.
2025년에는 Destruction-as-a-Service (DaaS) 비즈니스 모델을 출시할 계획이며, 초기 AS6 설치에서 매년 300만에서 500만 달러의 수익을 올릴 것으로 예상됩니다. 회사는 AS1, AS6 및 AS30 모델을 포함한 여러 AS 시스템을 제조하고, 전략적 파트너십을 구축하며 증가하는 시장 수요를 충족하기 위해 제조 능력을 확장할 것입니다.
374Water Inc. (NASDAQ:SCWO) termine l'année 2024 avec un important carnet de commandes de 1,8 milliard de dollars et un portefeuille de projets dans les marchés municipal, fédéral et industriel. Le système AirSCWO (AS) de l'entreprise, conçu pour détruire les déchets organiques et les contaminants, a été déployé avec succès à l'installation de récupération des eaux d'Iron Bridge à Orlando. Les réalisations clés de 2024 comprennent la réalisation d'une augmentation de capital de 12,2 millions de dollars, l'expansion des installations de laboratoire et le renforcement du leadership avec de nouvelles nominations exécutives.
Pour 2025, l'entreprise prévoit de lancer son modèle commercial Destruction-as-a-Service (DaaS), avec les premières installations AS6 qui devraient générer entre 3 et 5 millions de dollars par an. L'entreprise fabriquera plusieurs systèmes AS, y compris les modèles AS1, AS6 et AS30, tout en établissant des partenariats stratégiques et en élargissant ses capacités de fabrication pour répondre à la demande croissante du marché.
374Water Inc. (NASDAQ:SCWO) schließt das Jahr 2024 mit einem erheblichen Auftragsbestand von 1,8 Milliarden Dollar sowie einer Pipeline in den kommunalen, föderalen und industriellen Märkten ab. Das AirSCWO (AS) System des Unternehmens, das zur Zerstörung organischer Abfälle und Schadstoffe entwickelt wurde, wurde erfolgreich im Wasseraufbereitungswerk Iron Bridge in Orlando eingesetzt. Wichtige Erfolge im Jahr 2024 umfassen die Abschluss einer Kapitalerhöhung von 12,2 Millionen Dollar, den Ausbau der Laboreinrichtungen und die Stärkung des Führungsteams durch neue Führungspositionen.
Für 2025 plant das Unternehmen die Einführung seines Geschäftsmodells Destruction-as-a-Service (DaaS), wobei die ersten AS6-Installationen voraussichtlich jährliche Einnahmen von 3 bis 5 Millionen Dollar generieren werden. Das Unternehmen wird mehrere AS-Systeme herstellen, darunter die Modelle AS1, AS6 und AS30, während es strategische Partnerschaften aufbaut und die Fertigungskapazitäten ausweitet, um der wachsenden Marktnachfrage gerecht zu werden.
- Secured $1.8 billion in backlog and pipeline opportunities
- Successfully deployed first commercial AS system in Orlando
- Completed $12.2 million capital raise
- Projected DaaS revenue of $3-5 million annually per AS6 installation
- Expanded laboratory facilities and manufacturing capabilities
- Currently pre-revenue stage with no reported earnings
- Significant capital requirements for manufacturing expansion
- Dependent on regulatory environment and government funding
Insights
374Water's 2024 recap and 2025 outlook reveals several critical financial developments. The company has secured a substantial $1.8 billion backlog and pipeline across municipal ($600M), federal ($900M) and industrial ($280M) markets. The successful
The upcoming AS DaaS (Destruction-as-a-Service) business model shows promising revenue potential, with initial AS6 installations projected to generate
However, investors should note that converting the pipeline into actual revenue will be important for 2025 performance. The company's aggressive expansion plans, including new manufacturing facilities and workforce growth, will require careful cash management despite the recent capital raise.
The commercialization of 374Water's AirSCWO technology represents a significant advancement in waste management. Their ability to process diverse waste streams, including PFAS, pharmaceuticals and biosolids, positions them uniquely in the cleantech sector. The successful deployment at Orlando's Iron Bridge facility serves as a important proof-of-concept for larger-scale implementations.
The planned expansion from AS1 (1 ton/day) to AS100+ (100+ tons/day) systems demonstrates scalability, while the new Biosafety Level 1 Laboratory enhances R&D capabilities. The technology's versatility in handling multiple waste types, particularly PFAS destruction, aligns with increasing regulatory pressure and market demands.
The strategic focus on Treatment, Storage and Disposal Facility (TSDF) partnerships could accelerate market penetration through established infrastructure networks. This approach reduces market entry barriers and enables faster scaling of operations.
DURHAM, NC / ACCESSWIRE / December 19, 2024 / 374Water Inc. (NASDAQ:SCWO), a global leader in organic waste destruction technology for the municipal, federal, and industrial markets, releases key highlights of 2024 and their outlook for 2025.
December 18, 2024
Dear 374Water Shareholders,
2024 was a transformative year for 374Water and we are excited to move into 2025 as the market demand for innovative waste management and destruction solutions, like our AirSCWO (AS) system, has never been greater. Our mission and commitment remain steadfast - to transform the global water and wastewater treatment industries by solving critical pain points through innovative solutions. We believe our AS system sits at the forefront of cleantech innovation, offering a vital solution to address the organic waste destruction challenges of municipal, federal, and industrial market participants.
The core of our AS system is our patented supercritical water oxidation technology - designed to permanently destroy and mineralize a broad spectrum of organic non-hazardous and hazardous wastes - producing safe dischargeable clean water, safe mineral effluent, safe vent gas, and recoverable thermal energy. Our AS system can destroy traditional wastes including biosolids, landfill leachate, oily sludge, foam fractionate, military wastes, granular activated carbon, ion exchange resin, and industrial wastes. In addition, our AS technology can destroy emerging contaminants such as PFAS impacted wastes, as well as pharmaceuticals, pesticides, and plastics.
374Water ends 2024 with a municipal, federal and industrial backlog and pipeline of
2024 Key Highlights
In 2024, 374Water outlined a new strategic plan and tactical roadmap. Throughout the year, we executed our plan reaching critical milestones which we believe position the company for material growth in 2025. These achievements include:
AS Technology
We industrialized and optimized our AS system to effectively and continuously process a variety of organic waste streams including biosolids/sludge, aqueous film-forming foam (AFFF), granular activated carbon (GAC), ion exchange resin (IX), foam fractionation byproducts (foamate), pharmaceutical, lithium-ion battery, plastics, and other waste streams.
We plan to offer four AS models which consist of the AS1, a one wet tons per day hyper mobile system; the AS6, a six wet tons per day mobile system; the AS30, a 30 wet tons per day semi-permanent system; and our bespoke AS100+ system designed to process 100 or more wet tons per day in a permanent facility.
Commercial Deployment to City of Orlando, FL
In September, we deployed our first commercial scale AS system to the City of Orlando's Iron Bridge Water Reclamation Facility. Our AS system is fully commissioned, and we are processing municipal sludge as well as executing federal and industrial waste destruction projects. Following the completion of our biosolids demonstration, Orlando has indicated their intentions to install our larger AS30 system, followed by our AS100+ system to ultimately service all wastewater operations.
Municipal, Federal, and Industrial Markets
The municipal market faces the daily challenge of managing and disposing of contaminated biosolids, landfill leachate, AFFF firefighting foam, spent GAC and IX, and foamate. Our recent destruction demonstrations on these waste streams position us well to solve municipal market challenges. At year end, we have a municipal backlog and pipeline of
The federal market has been directed by congress to remediate contamination, by PFAS and other organic wastes, at government locations. The government has already appropriated hundreds of millions of dollars to perform this work. With our AS solution performing at commercial scale with recent demonstrations under our belt, we believe we are well positioned to win federal PFAS destruction opportunities. At year end, we have a federal backlog and pipeline of
The industrial market includes a diverse group of industries from landfills, oil & gas, healthcare to pharmaceutical, chemical and batteries. These industries generate significant organic waste annually. Throughout the year we completed numerous AS trials at lab and commercial scale, successfully eliminating a wide range of organic waste streams. At year end, we have an industrial backlog and pipeline of
The Treatment, Storage and Disposal Facility (TSDF) market consists of RCRA (Resource Conservation and Recovery Act) permitted sites throughout the U.S. We are actively engaged with major TSDFs to establish a national network of hazardous waste destruction facilities. We believe the TSDF DaaS market opportunity is measured in the 100s of millions of dollars.
Laboratory Expansion
To meet increasing lab-scale waste destruction demand and expedite AS technology advancement, we relocated our lab facility to a significantly larger state-of-the-art Biosafety Level 1 Laboratory in Morrisville, NC. Our lab-scale tests demonstrate to our customers the effectiveness of our AS technology in destroying organic wastes. Our lab also develops robust pre-treatment and processing protocols for a wide range of organic wastes which are then utilized by our commercial scale AS systems.
Manufacturing and Supply Chain
In conjunction with our move to Orlando's Iron Bridge Facility, we co-located our manufacturing operations to a temporary facility near our commercial AS installation. We also expanded our supply chain relationships and their capacity for full-scale production.
Leadership and Organizational Enhancements
In April 2024, 374Water's Board of Directors appointed Chris Gannon as Chief Executive Officer. Following this appointment, 374Water appointed Deborah Cooper as Chief Administrative Officer and Chief of Staff, Russell Kline as Chief Financial Officer, and Peter Mandel as General Counsel. In addition, Brad Meyers expanded his scope as Chief Operating Officer. These strategic hires, along with an updated Board of Directors, materially strengthens our ability to meet our commitments and growth objectives.
Capital Raise
374Water completed a registered direct offering with gross proceeds of
2025 Outlook
As we head into 2025, we believe we are well positioned with a robust and aggressive plan and clear set of priorities. You can expect much from the company as we deliver critical AS waste destruction solutions to customers, generate AS DaaS, capital sale, lab trials and other service revenue, expand the use case of our AS technology, seed key markets, increase manufacturing and operating capabilities, enhance our global presence, and pursue strategic partnerships, joint ventures and accretive acquisitions.
Regulatory Outlook
Following the 2024 Presidential election, our team has stayed on top of regulatory developments in Washington. While we anticipate changes under the new administration, we believe the federal government will continue to demonstrate bi-partisan support for PFAS regulations, and funding for federal remediation and destruction of PFAS-contaminated waste streams. Demand remains strong at the state and local levels with waste destruction spending, regulation, and bi-partisan clean-up efforts continuing to be an important area for municipalities and a broad range of industrial segments. Our team is engaged across all levels of government, partnering with policy makers to position 374Water as the go-to waste destruction service provider and advocate for AS system as the most effective means for organic contaminant destruction.
AS Systems
In early 2025, we will finish manufacturing an AS1 system for immediate deployment to federal government and industrial facility destruction demonstrations. We will also finish manufacturing multiple AS6 systems, one of which will be delivered to OCSan and another will be installed at our inaugural AS DaaS site. We also intend to begin manufacturing AS30 systems to be used in our municipal and TSDF market verticals and our AS DaaS operations.
AS DaaS
We are launching our AS DaaS business based on a build-own-operate model by which we partner with: (1) Wastewater facilities, (2) Federal facilities, (3) Industrial facilities, and (4) RCRA permitted TSDF facilities. These partnerships may take the form of operational joint ventures and/or service provider models. By providing permanent and mobile treatment solutions, we expect to access a wide variety of customer waste streams. We are actively bidding on waste destruction contracts and in active negotiations with potential partners.
We intend to establish our first AS DaaS facility during the first half of 2025, initially using our AS6 system, which we intend to upgrade to our AS30 as the technology matures. We believe our initial AS6 DaaS installation has the potential to generate
Converting our Municipal, Federal, and Industrial Opportunities
We intend to begin generating revenue from our backlog and pipeline of
Deployment to Orange County Sanitation (OCSAN)
We are completing construction of the OCSAN AS system scheduled for delivery in 2025. Prior to this deployment, we will complete a factory acceptance test, and upon delivery the system will undergo a six-month operational period managed by 374Water engineers, followed by another six-month operational period managed by OCSAN staff. Following a successful biosolids demonstration, OCSAN has communicated their intention to upgrade to our larger AS30 system, followed by the installation of a AS100 or larger system to manage a significant portion of their biosolid wastewater.
Manufacturing and Supply Chain Operations
We intend to establish a much larger manufacturing facility to further scale our operations to meet our growing customer demand. We have relocated to a new facility closer to our AS waste destruction operations and will be hiring additional manufacturing personnel, increasing our capacity to build additional AS systems, while reducing our manufacturing costs. In addition, we intend to begin engineering and manufacturing our AS30 and larger units, in addition to previously discussed AS1s and AS6s.
Transportation/Logistics Operations
We are beginning to establish our transportation and logistics operations to accept and transport waste streams for destruction at AS DaaS sites. We plan to have a network of transportation and logistics partners to assist us as we grow our AS DaaS operations nationally.
Leadership and Organization Enhancements
We are actively seeking to round out our senior leadership team with the addition of a Chief Technology Officer (CTO). The CTO will oversee our engineering organization and will bring deep experience in technology development, commercialization, and technology deployment. In conjunction with the CTO hire, we will further build our engineering, field, and manufacturing teams to drive technology innovation and deliver new destruction solutions to our market verticals more rapidly.
Industry and Technical Advisory Board
We plan to build an advisory board comprised of subject matter experts as we seek to capitalize on existing and enter new markets and industries. The advisory board will provide the company strategic advice and guidance on waste destruction needs of various consumers, technical and R&D matters, capital markets, strategic partnerships, key industry relationships, and other issues. We believe this advisory board will complement our organization and enable the company to scale more rapidly.
Strategic Partnerships, Joint Ventures, and Acquisitions
We also intend to actively explore partnerships and other strategic transactions to further advance our growth. These initiatives are aimed at unlocking new opportunities, strengthening our market position, and accelerating the adoption of our groundbreaking solutions. We believe that combining our technology and expertise with that of complementary partners will allow us to expand our reach and drive the advancement and adoption of our waste destruction technology.
Closing
Our commitment to providing sustainable solutions for the circular economy and transforming how the world addresses waste has never been stronger. With a strong year behind us and actionable goals for the future, 374Water is positioned to grow rapidly in 2025. We believe the fundamentals of our business and demand for AS technology are strong and we intend to generate meaningful revenue within our municipal, federal, and industrial market verticals.
Thank you again for being a 374Water shareholder and part of our journey to transform the waste management and destruction industry. The future is bright for your company, we look forward to providing further updates on our progress as we drive results for our customers, investors, and partners, and appreciate your continued support as we look forward to another successful year.
Happy Holidays!
Best,
Chris Gannon |
| Brad Meyers |
| Deborah Cooper |
Chief Executive Officer |
| Chief Operating Offering |
| Chief Administrative Officer & Chief of Staff |
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Pete Mandel |
| Russell Kline |
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General Counsel & Chief Legal Officer |
| Chief Financial Officer |
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About 374Water
374Water Inc. (NASDAQ:SCWO) is a global cleantech company providing innovative solutions addressing wastewater treatment and waste management issues within the municipal, federal and industrial markets. 374Water's AirSCWO technology is designed to efficiently destroy and mineralize a broad spectrum of organic non-hazardous and hazardous organic wastes producing safe dischargeable water streams, safe mineral effluent, safe vent gas, and recoverable heat energy. 374Water's AirSCWO technology has the potential to assist its customers to meet discharge requirements, reduce or eliminate disposal costs, remove bottlenecks, and reduce litigation and other risks. 374Water continues to be a leader in innovative waste treatment solutions, dedicated to creating a greener future and eradicating harmful pollutants. Learn more by visiting www.374water.com and follow us on LinkedIn.
Cautionary Language on Forward-Looking Statements
Certain statements in this communication are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements relate to future events or our future financial performance, including statements relating to the benefits of our recent financing, our ability to execute on our strategic plan, our hiring strategy, our positioning in the market, our ability to process a range of waste and contaminants at scale, the timing and success of our DaaS offering, the timing of the deployment of our AirSCWO system in Orange County, our ability to execute on our backlog and pipeline, and our future prospects and involve known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or our achievements or those of our industry to be materially different from those expressed or implied by any forward-looking statements. In some cases, forward-looking statements may be identified by the use of words like "may," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "estimate," "project," "consider," "predict," "potential," "feel," or other comparable terminology. The Company has based these forward-looking statements on its current expectations, assumptions, estimates, beliefs, and projections. While the Company believes these expectations, assumptions, estimates, and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which involve factors or circumstances that are beyond the Company's control. These and other important factors, including those discussed under "Risk Factors" in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, as well as the Company's subsequent filings with the SEC, may cause actual results, performance, or achievements to differ materially from those expressed or implied by these forward-looking statements. The forward-looking statements herein are made only as of the date they were first issued, and unless otherwise required by applicable securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
CONTACT:
Investor Contact:
Heather Crowell
ir@374water.com
Media Contact:
Christian Rizzo
media@374water.com
SOURCE: 374Water, Inc.
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FAQ
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