374Water Inc. - SCWO STOCK NEWS

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.

374Water, a cleantech company, will co-host an event titled "Water Innovations for Sustainable Development" at the U.N. 2023 Water Conference in New York on March 23. The event will focus on research and innovation to advance the Water Action Agenda. 374Water will showcase its revolutionary technology using supercritical water oxidation (SCWO) to convert harmful PFAS into clean water, energy, and minerals. This aligns with U.S. public health initiatives as PFAS are labeled a concern by the CDC. Additionally, a panel discussion on March 22 at the Nasdaq Boardroom will address the future of PFAS management and innovation.

374Water (NASDAQ:SCWO) announced a partnership with WSP to evaluate the performance of its AirSCWO™ system for destroying PFAS waste at U.S. Air Force bases.

This initiative follows an AFCEC Broad Agency Announcement contract awarded to WSP and aims to demonstrate a scalable and mobile solution for PFAS remediation. The project is expected to offer significant cost savings by reducing the need for storage, transport, and hazardous waste disposal while enhancing safety for service personnel and surrounding communities.

EverGen Infrastructure Corp. is solidifying its position as a leader in the renewable natural gas (RNG) market, driven by the U.S. government's $369 billion Inflation Reduction Act aimed at reducing fossil fuel dependence. The act is projected to triple America’s clean energy production by 2030, creating significant opportunities for companies like EverGen, which has been producing RNG in Canada since 2011.

The company estimates a growth in Adjusted EBITDA from approximately $3 million to $13 million through expansions, leveraging contracts with utility partners such as FortisBC. With an abundance of organic waste, EverGen aims to produce over 2 million gigajoules of RNG annually, capitalizing on the green energy transformation.

374Water (NASDAQ:SCWO) has been awarded a contract by the US Navy to demonstrate its AirSCWO™ technology for destroying PFAS, commonly known as 'forever chemicals.' This initiative is part of a broader Defense Department effort to find sustainable solutions for remediation at military bases. The AirSCWO technology has previously shown effectiveness in destroying PFAS and recovering energy, water, and minerals. With anticipated cleanup costs of over $3.2 billion, this project may lead to cost savings and enhanced environmental protection at military sites.