374Water Issues Letter to Shareholders
374Water (NASDAQ:SCWO) has released a shareholder letter highlighting recent developments and future plans. The company recently raised $12.2M in equity funding to accelerate their AirSCWO commercialization efforts. Their system is operational at Orlando Iron Bridge Water Reclamation Facility and will soon deploy at Orange County Sanitation. The company is launching Destruction-as-a-Service (DaaS) for hazardous and non-hazardous waste processing, with their first DaaS site under negotiation. Their technology has demonstrated >99.999% destruction of PFAS in AFFF firefighting foam. The company reports a current backlog/pipeline exceeding $1.8B and is expanding capabilities in solid waste destruction, particularly spent GAC and IX materials.
374Water (NASDAQ:SCWO) ha rilasciato una lettera agli azionisti evidenziando gli sviluppi recenti e i piani futuri. L'azienda ha recentemente raccolto $12.2M in fondi azionari per accelerare i loro sforzi di commercializzazione di AirSCWO. Il loro sistema è operativo presso l'impianto di recupero delle acque di Orlando Iron Bridge e sarà presto implementato presso l'Orange County Sanitation. L'azienda sta lanciando Destruction-as-a-Service (DaaS) per il trattamento dei rifiuti pericolosi e non pericolosi, con il primo sito DaaS attualmente in fase di negoziazione. La loro tecnologia ha dimostrato una distruzione superiore al 99,999% di PFAS nel foam antincendio AFFF. L'azienda riporta un attuale backlog/pipeline che supera i $1.8B e sta ampliando le capacità nella distruzione dei rifiuti solidi, in particolare dei materiali GAC e IX usati.
374Water (NASDAQ:SCWO) ha publicado una carta a los accionistas destacando desarrollos recientes y planes futuros. La compañía ha recaudado recientemente $12.2M en financiamiento de capital para acelerar sus esfuerzos de comercialización de AirSCWO. Su sistema está operativo en la Planta de Recuperación de Agua de Orlando Iron Bridge y pronto se desplegará en Orange County Sanitation. La empresa está lanzando Destruction-as-a-Service (DaaS) para el procesamiento de residuos peligrosos y no peligrosos, con su primer sitio DaaS en negociación. Su tecnología ha demostrado una destrucción de más del 99,999% de PFAS en espuma de combate contra incendios AFFF. La compañía informa de un backlog/pipeline actual que supera los $1.8B y está ampliando capacidades en la destrucción de residuos sólidos, particularmente de materiales GAC y IX gastados.
374Water (NASDAQ:SCWO)는 최근 개발 및 향후 계획을 강조한 주주 서한을 발표했습니다. 이 회사는 최근 $12.2M의 자본을 조달하여 AirSCWO 상용화 노력을 가속화하고 있습니다. 그들의 시스템은 올랜도 아이언 브리지 수처리 시설에서 운영 중이며, 곧 오렌지 카운티 위생 시설에 배치될 예정입니다. 이 회사는 위험 및 비위험 폐기물 처리를 위한 Destruction-as-a-Service (DaaS)를 출시하고 있으며, 첫 번째 DaaS 사이트가 협상 중에 있습니다. 그들의 기술은 AFFF 소방 폼에서 PFAS의 99.999% 이상 파괴를 입증했습니다. 이 회사는 현재 $1.8B를 초과하는 백로그/파이프라인을 보유하고 있으며, 특히 사용된 GAC 및 IX 재료의 고체 폐기물 파괴 능력을 확장하고 있습니다.
374Water (NASDAQ:SCWO) a publié une lettre aux actionnaires soulignant les développements récents et les projets futurs. La société a récemment levé $12.2M en financement par actions pour accélérer ses efforts de commercialisation de AirSCWO. Son système est opérationnel à l'installations de récupération d'eau d'Orlando Iron Bridge et sera bientôt déployé dans Orange County Sanitation. L'entreprise lance Destruction-as-a-Service (DaaS) pour le traitement des déchets dangereux et non dangereux, avec son premier site DaaS actuellement en négociation. Sa technologie a démontré une destruction de plus de 99,999% de PFAS dans la mousse anti-incendie AFFF. La société a un carnet de commandes et un pipeline actuels dépassant $1.8B et développe ses capacités dans la destruction de déchets solides, en particulier les matériaux GAC et IX usagés.
374Water (NASDAQ:SCWO) hat einen Brief an die Aktionäre veröffentlicht, in dem aktuelle Entwicklungen und zukünftige Pläne hervorgehoben werden. Das Unternehmen hat kürzlich $12.2M an Eigenkapitalfinanzierung gesammelt, um seine Kommerzialisierungsbemühungen für AirSCWO zu beschleunigen. Ihr System ist im Orlando Iron Bridge Wasseraufbereitungswerk in Betrieb und wird bald im Orange County Sanitation eingesetzt. Das Unternehmen führt Destruction-as-a-Service (DaaS) für die Verarbeitung von gefährlichen und nicht gefährlichen Abfällen ein, wobei der erste DaaS-Standort derzeit verhandelt wird. Ihre Technologie hat eine Zerstörung von über 99,999% von PFAS in AFFF-Feuerlöschschaum nachgewiesen. Das Unternehmen berichtet von einem aktuellen Auftragsbestand/einer Pipeline von über $1.8B und erweitert seine Fähigkeiten zur Zerstörung von festen Abfällen, insbesondere von verbrauchten GAC- und IX-Materialien.
- Secured $12.2M in equity funding for expansion
- Successfully operational AirSCWO system with >99.999% PFAS destruction efficiency
- Current backlog/pipeline exceeds $1.8B
- Launching recurring revenue DaaS business model
- Expanding into new markets (AFFF, GAC, IX)
- Equity fundraising may lead to shareholder dilution
Insights
374Water's latest shareholder letter reveals significant strategic developments and financial positioning. The recent
The operational success at Orlando Iron Bridge and planned deployment at Orange County Sanitation demonstrates commercial viability. The transition to a DaaS model could generate recurring revenue streams, while their
The AirSCWO technology's demonstrated effectiveness in PFAS destruction represents a significant breakthrough in hazardous waste management. The
The expansion into GAC and IX destruction addresses a critical market need, as these materials are widely used but challenging to dispose of safely. The company's strategic focus on both hazardous and non-hazardous waste streams through multiple business models (capital purchase, lease and DaaS) provides flexibility for different customer needs while maintaining environmental compliance.
DURHAM, NC / ACCESSWIRE / November 18, 2024 / 374Water Inc. (NASDAQ:SCWO), a global leader in organic waste destruction technology for the municipal, federal, and industrial markets, released a letter to shareholders.
November 18, 2024
Dear 374Water Shareholders,
We would like to thank our shareholders for their continued support and share our excitement about the future of 374Water. Our mission is to be the leader in the organic non-hazardous and hazardous waste destruction market, estimated to exceed
We recently completed an Equity fundraising which secured gross proceeds of approximately
Our AirSCWO system is fully operational at the Orlando Iron Bridge Water Reclamation Facility where we are processing biosolids/sludge, as well as completing multiple tests on non-hazardous waste streams at commercial scale. Early next year, we plan to deploy our AirSCWO system to Orange County Sanitation where we will also be processing biosolids/sludge at commercial scale.
Based on our operational successes, we are moving forward, with alacrity, to offer non-hazardous and hazardous DaaS services to generate near-term recurring revenue. We are in negotiations to establish our first DaaS site, which will provide 374Water with a central location to accept and process non-hazardous PFAS laden liquid/slurry wastes such as aqueous film forming foam (AFFF), spent granular activated carbon (GAC) and ion exchange resign (IX), leachate, foam fractionate, as well as various other difficult to treat wastes such as pharmaceuticals, fats, oils and greases (FOG), etc. We are also engaged in discussions with multiple Treatment, Storage, and Disposal Facility (TSDF) operators to establish onsite DaaS partnerships to destroy hazardous and non-hazardous waste streams. We routinely receive inquiries to destroy organic waste streams at DaaS facilities.
We recently released a White Paper describing AirSCWO's success processing AFFF firefighting foam, a highly toxic material, with destruction of PFAS exceeding
We are also expanding our solid waste destruction capabilities with advancements surrounding spent (used up) GAC and IX. These materials are widely utilized across the water and wastewater industries as contamination capture/filtration treatment solutions for PFAS and other waste streams. We see significant revenue opportunities for the large-scale destruction of GAC and IX and intend to pursue these market opportunities over the near term.
Many organizations are actively seeking waste management solutions that provide full waste destruction. We believe we are well positioned to take advantage of these market opportunities and will offer capital purchase, lease and DaaS offerings to the municipal, federal, industrial and TSDF markets.
We are also actively recruiting engineering, field, and manufacturing personnel to expand our team. These new team members will help us to more rapidly commercialize our AirSCWO system, build additional AirSCWO units, as well as begin to execute on DaaS and other opportunities.
The fundamentals of our business are strong. Our AirSCWO technology is performing well across biosolid/sludge and liquid waste streams. Our DaaS business is taking shape representing near-term recurring revenue, with our first operating site being actively negotiated to destroy non-hazardous waste, and our conversations are advancing with TSDF operators for onsite non-hazardous and hazardous waste destruction. Our approach to opening markets is bearing fruit with opportunities across AFFF, GAC, IX, and other organic waste streams. Our current backlog/pipeline exceeds
Thank you again for being a 374Water shareholder and part of our journey to transform the waste management and disposal industry. The future is bright for the company, and we look forward to sharing additional updates and accomplishments over the coming months.
Should you have any questions, please don't hesitate to contact us directly.
Best,
Chris Gannon
Chief Executive Officer
Brad Meyers
Chief Operating Offering
Deborah Cooper
Chief Administrative Officer & Chief of Staff
Pete Mandel
General Counsel &
Chief Legal Officer
Adrienne Anderson
Chief Financial Officer
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.
View the original press release on accesswire.com
FAQ
What was the amount of equity funding raised by 374Water (SCWO) in November 2024?
What is the current backlog/pipeline value for 374Water (SCWO)?
What is the PFAS destruction efficiency rate of 374Water's (SCWO) AirSCWO system for AFFF?
Where is 374Water's (SCWO) AirSCWO system currently operational?
