374Water Inc. - SCWO STOCK NEWS

374Water Inc. provides a business update and reports financial results for Q2 2023. The company expects to begin AirSCWO operations in November. Revenue for the six-month period decreased by 35% compared to the previous year. Total operating expenses increased by 58% for the same period. The company has a working capital of $17,820,000 as of June 30, 2023. Operational highlights include progress in preparing to ship the first commercial-grade AirSCWO system and forming a strategic partnership with The Environmental Group Limited.

374Water Inc. announces the launch of its HEC-Prime engine, which converts waste steam and gasses into renewable energy. The engine is a breakthrough solution to the energy and resource crisis, providing a sustainable and cost-effective source of electricity.

374Water to join the Russell 3000® and Russell Microcap® Indexes, marking a significant milestone for the company's growth and visibility.

374Water Inc. (NASDAQ: SCWO) showcased its innovative AirSCWO™ supercritical water oxidation technology during a three-day event in Indiana, attended by over 400 guests, including prospective customers from more than 10 countries. The demonstration highlighted the company’s first commercial unit, which is set to be deployed in Orange County, CA, later this year. This technology transforms organic waste into water, energy, and minerals, promoting sustainability while minimizing greenhouse gas emissions. The Orange County Sanitation District became the first customer for this solution in 2022, emphasizing its significance for future waste management regulations. CEO Kobe Nagar reiterated the commitment to sustainable waste solutions and the importance of protecting vital resources for future generations.

374Water Inc. (NASDAQ:SCWO) reported significant growth in its financial results for 2022, with revenue soaring to $3.02 million, a 6,169% increase from $48,100 in 2021. The company has nearly completed its first municipal-scale AirSCWO™ system, set for installation in summer 2023, and has been selected for projects with the US Navy and Air Force related to PFAS destruction. However, net loss widened to $4.7 million, with administrative and R&D expenses rising. Total cash decreased to $6 million from $11.1 million, indicating cash flow concerns. The leadership expansion and strategic partnerships signal potential for future growth.