374Water Inc. - SCWO STOCK NEWS

374Water Inc. (NASDAQ:SCWO) released its Q2 2024 results and provided a business update. Key highlights include:

1. Deployment of AirSCWO system to Orlando for biosolids waste treatment and PFAS destruction demonstrations.
2. Revenue decreased 26% to $37,000 in Q2 2024 compared to Q2 2023.
3. Total operating expenses increased from $3.5 million in H1 2023 to $4.9 million in H1 2024.
4. Working capital of $7.2 million as of June 30, 2024, with no outstanding debt.
5. Successful completion of pharmaceutical waste testing using AirSCWO technology.
6. Release of a white paper on AirSCWO technology's potential for lithium-ion battery waste processing.

The company estimates a global market opportunity in the hundreds of billions of dollars for its waste destruction technology.

374Water (Nasdaq:SCWO) has announced its schedule for the Second Quarter 2024 Earnings Release and Conference Call. The company will release its earnings results before market open on Thursday, August 15, 2024. Following this, management will host a conference call at 10:00 am Pacific Time (1:00 pm Eastern Time) on the same day to provide a business update, discuss quarterly results, and conduct a live Q&A session.

Interested participants can join the conference call by dialing (888) 506-0062 (Toll Free) or (973) 528-0011 (International). Alternatively, they can access the live webcast through a registration link provided. A webcast replay will be available until August 29, 2024, accessible through the Investors Section of 374Water's website.

374Water Inc. (NASDAQ:SCWO) has released a white paper showcasing its AirSCWO technology's ability to destroy >99.999% of HQ-115, a PFAS additive used in Lithium-ion batteries (LiBs). This breakthrough addresses the environmental risks posed by LiB manufacturing and recycling waste. Key highlights include:

1. AirSCWO system effectively treats LiB waste, demonstrating potential for improving sustainability in the $91 billion global LiB industry.

2. The technology could prevent the release of toxic PFAS from over 20,000 kilotons of annual electric vehicle waste.

3. Traditional waste management methods are ineffective in removing fluorinated electrolytes, leading to environmental contamination.

4. 374Water's solution offers complete mineralization of electrolyte solvent waste streams without generating secondary pollutants.

5. The company is collaborating with leading LiB manufacturers and recyclers to address this growing environmental challenge.

374Water Inc. (Nasdaq:SCWO) has successfully demonstrated the effectiveness of its AirSCWO technology in destroying pharmaceutical waste for a major manufacturer. The demonstration achieved >99.9% destruction of halogenated solvents and organic wastes, surpassing the 99.5% efficiency of on-site incineration. AirSCWO eliminated organics to levels ten times lower than discharge limits for on-site injection.

The technology offers a sustainable solution for the $40 billion global pharmaceutical waste management market, addressing challenges such as environmental contamination and regulatory compliance. AirSCWO transforms organic waste into harmless water and minerals, potentially creating additional value through rare earth material recovery. CEO Chris Gannon highlighted the technology's capability to handle diverse and complex waste streams, positioning it as an effective alternative to conventional off-site disposal methods.

374Water Inc. (NASDAQ:SCWO) is deploying its AirSCWO waste destruction technology to the City of Orlando's Iron Bridge Water Pollution Control Facility. This seven-month demonstration will showcase the system's ability to treat biosolids and destroy PFAS in various waste streams. The project is funded by a Federal Bipartisan Infrastructure Bill grant and aims to reduce waste volume and greenhouse emissions.

The company has also updated its deployment plans with the Orange County Sanitation District (OC San). While initially planned for OC San, the technology will first be deployed in Orlando to refine it in a real-world setting. OC San supports this approach and expects to receive an AirSCWO-6 system in early 2025, with plans to eventually upgrade to larger systems.

374Water has appointed Deborah Cooper as the new Chief Administrative Officer (CAO) and Chief of Staff, effective July 9, 2024. Cooper, with over 20 years of experience in organizational transformation, will focus on enhancing business operations and strategic planning to scale 374Water's operations. She will collaborate with CEO Chris Gannon on strategic initiatives and provide leadership across various business units. Prior to joining 374Water, Cooper held senior roles at National Fire and Safety, Oswald Companies, Unison Risk Advisors, and FRONTSTEPS. CEO Chris Gannon highlighted Cooper's track record in driving positive results and innovation. The appointment aligns with 374Water's mission to commercialize its AirSCWO technology and expand its market presence.

374Water announced the election of its new Board of Directors, with all seven nominees confirmed by stockholders. The elected members include Richard H. Davis, Marc Deshusses, Deanna Rene Estes, Chris Gannon, Terry Merrell, Buddie Joe Penn, and James Vanderhider. Each will serve a one-year term set to expire in 2025. In addition to the Board election, stockholders approved an increase of 14 million shares of common stock under the company's equity incentive plan. The newly elected Board aims to accelerate the commercialization of 374Water's AirSCWO technology and scale the business within the municipal, federal, and industrial markets. The changes reflect ongoing positive momentum and strategic evolution at 374Water, enhancing its governance and leadership to drive growth and innovation in waste destruction technologies.

374Water, a leader in sustainable waste management, announced its Q1 2024 results and business updates. New CEO Chris Gannon highlighted a strategic focus on product development, commercialization, and market expansion. Revenue for Q1 2024 was $315,000, down 61% from $801,000 in Q1 2023, primarily due to decreased costs associated with completed units. Operating expenses rose slightly to $1.9M from $1.8M in Q1 2023, driven by R&D costs. The company has $11.7M in working capital. Key initiatives include partnerships with the City of Orlando and Orange County Sanitation District, and ongoing discussions with major TSDF operators.

374Water, listed as NASDAQ:SCWO, has scheduled its First Quarter 2024 Earnings Release and Conference Call. The earnings results will be released after market close on May 15, 2024, followed by a conference call on May 17, 2024, to discuss quarterly results and provide a business update.