374Water Inc. - SCWO STOCK NEWS

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.

374Water Inc. appoints Chris Gannon as the new CEO to lead the scaling of its innovative waste and water treatment technology. Gannon's extensive leadership background in environmental technology, industrial innovation, and customer service aligns with the company's growth strategy. The company aims to deploy its AirSCWO technology in major projects and partnerships, addressing global water and waste management challenges. Gannon's experience in scaling companies and capital markets is expected to drive revenue growth and technology advancement at 374Water.

374Water Inc. (NASDAQ:SCWO) announces collaborations with DIU, Arcadis, and Clean Earth to advance PFAS remediation for defense sites and a new contract with the City of Orlando. Financially, the company reported a 75% decrease in revenue for the year ended December 31, 2023, along with increased operating expenses. Operational highlights include a new contract with Orlando and participation in environmental initiatives in Africa's Great Lakes region.

374Water Inc. (NASDAQ:SCWO) signs a contract with the City of Orlando to deploy an AirSCWO 6 unit at the Iron Bridge Regional Water Reclamation Facility. The agreement aims to treat 400 metric tons of sludge monthly, showcasing the company's commitment to environmental impact and innovation.

374Water (NASDAQ:SCWO) had a transformative year, marked by significant achievements and global recognition. The company showcased its revolutionary AirSCWO unit at SCWO Week and formed an exclusive partnership with The Environmental Group Limited for distribution in Australia and New Zealand. Additionally, 374Water's SCWO technology was recognized for its ability to treat PFAS and the company was included in the Russell 3000® and Russell Microcap® Indexes. The company also received a recommendation for funding from the Legislative-Citizen Commission on Minnesota Resources and was recognized in the UpLink, World Economic Forum's 'Yes San Francisco, Urban Sustainability Challenge' as one of the top innovators. The executive team expanded with the appointment of a new Chief Operating Officer and the resignation of the current Chief Financial Officer, who has been replaced by Adrienne Anderson, CPA.

374Water (NASDAQ:SCWO) to Lead Groundbreaking Environmental Initiative with Department of Defense

374Water Inc. (NASDAQ:SCWO) provides a business update, delays commercial unit delivery to Orange County Sanitation District to early 2024, reports 61% decrease in revenue for the nine-month period ended September 30, 2023, announces Brad Meyers as Chief Operating Officer and increases total operating expenses. The company's working capital increased to $16,278,000 as of September 30, 2023.