374water Inc. · NASDAQ:SCWO
374water — Investor Presentation (December 2025)
28 slides from 374water's investor presentation, December 2025
Slide 1: Clean & Sustainable Destruction of Organic Waste
Clean & Sustainable Destruction of Organic Waste NASDAQ: SCWO Investor Presentation December 2025 ©2025 374Water Inc. All Rights Reserved. This document and the information set forth herein are the property of 374Water.
Slide 2: Cautionary Statement Regarding Forward-Looking Statements
Cautionary Statement Regarding Forward-Looking Statements This presentation and various remarks we make during this presentation contain “forward-looking statements” of 374Water Inc. (“374Water,” “the Company,” “we,” “our” or “us”), which include information relating to future events, future financi
Slide 3: Corporate Overview
Corporate Overview 374Water is a global industrial technology and services company providing innovative solutions for organic waste destruction and treatment within Industrial, Municipal and Federal markets. ● Proprietary AirSCWO (AS) System is designed to destroy non-hazardous and hazardous organic
Slide 4: Operational Highlights and Business Updates
Operational Highlights and Business Updates 374Water is executing on multiple revenue growth opportunities, deploying AirSCWO technology solutions across markets, and scaling the organization ● Announced a WDS collaboration agreement focused on ● Began processing the first phase of its award by the
Slide 5: AirSCWO Technology
AirSCWO Technology Supercritical Water Oxidation (SCWO) is a physical-thermal process powered by air and water above its critical point (374°C and 221 bar) that yields a highly effective oxidation reaction that eliminates organic compounds. Traditional Waste Emerging AirSCWO System Waste Turned to S
Slide 6: Materials Destroyed by AirSCWO
Materials Destroyed by AirSCWO The continuous flow AirSCWO System has successfully destroyed a wide range of organic wastes reaching non detect or below EPA required levels. Organic wastes destroyed include: Sludges Landfill Spent Ion Spent Granular AFFF Firefighting Foam Soil Contaminants Foam Frac
Slide 7: $450B+ Global Market Opportunity
$450B+ Global Market Opportunity The market is seeking alternatives to inadequate existing waste treatment technologies which primarily transform, transport, or condense organic wastes instead of destroying them. Municipal1 Federal & Prime Contractor2 Industrial3 Global Water & Wastewater Treatment
Slide 8: The Regulatory Environment is Poised to Accelerate Demand
The Regulatory Environment is Poised to Accelerate Demand EU POTENTIAL US LEADING ADVANCED NATIONS LEAPFROG Financial and Legal CERCLA (Superfund) Potential Full Ban, Stringent Federal Implications – Designation & New State-Level Water Quality Regulations on PFAS Industry is Manufacturer Regulatory
Slide 9: Current Waste Destruction Landscape
Current Waste Destruction Landscape The Municipal, Federal, and Industrial markets are seeking alternatives to existing waste treatment technologies, which are considered inadequate as they primarily transform or condense waste streams instead of destroying them. ● Existing waste management solution
Slide 10: 374Water Facilities and Deployments
374Water Facilities and Deployments Establishing Waste Destruction Services (WDS) operations at RCRA Part B TSDF in 2026. Completed multiple AirSCWO deployments throughout 2025. Bid on Federal Waste Destruction MATOC Contracts. Negotiating additional RCRA Part B TSDF partnerships. AS6 Deployment1 DI
Slide 11: Robust Demand Underlies Growth Opportunities
Robust Demand Underlies Growth Opportunities Municipal Federal & Prime Contractor Industrial ● Biosolids (including PFAS) ● PFAS Concentrates “Forever ● Oil & Gas ● Landfill Leachates Chemicals” (AFFF, GAC, IX, FF) ● Chemical/ Petrochemical/ Pesticides ● US Drinking Water (GAC & IX ● Mfg & Disposal
Slide 12: AirSCWO Systems
AirSCWO Systems Scalable AirSCWO Systems to meet the destruction capacity needs of the Municipal, Federal, Industrial, and Treatment, Storage, and Disposal Facilities (TSDF) markets. AS1 AS6 AS30 AS100+ ● 0.25 to 0.5 MGD WW facility ● 0.5 to 1.5 MGD WW facility ● 4 to 6 MGD WW facility ● 20 to 40 MG
Slide 13: Go-To-Market Strategy
Go-To-Market Strategy Flexible go-to-market strategy to generate demand across three major Industrial, Municipal and Federal, market verticals and varied waste streams. Active engagement and negotiations with major industrial, Converting Demand to Revenue federal and municipal, and TSDF organization
Slide 14: Unlocking WDS & Recurring Revenue
Unlocking WDS & Recurring Revenue We offer multiple AirSCWO deployment models to meet our customers’ waste destruction needs. On-site Permanent Off-site TSDF On-site Mobile Destruction Operations Destruction Operations Destruction Operations For clients that consistently produce a 374Water and TSDF
Slide 15: Waste Destruction Services – Potential for Recurring Revenue
Waste Destruction Services – Potential for Recurring Revenue1 374Water intends to establish TSDF WDS operations throughout North America, with our first facility in mid 2026. We also intend to build a mobile WDS fleet, with first AS1 unit. AS 1 – Mobile Services AS 6 – TSDF Facility AS 30 – TSDF Fac
Slide 16: 374Water's Business Potential at Scale
374Water’s Business Potential at Scale1 Launch and Growth of WDS to drive recurring revenues $ in Millions 2024 2025 2026 2027 2028 2029/2030 Revenue2 $0.4 $4 $6-8 Sales/Lease/WDS2 1 3-5 6-8 10-12 15-20 25-30 Markets/Sectors Municipal Municipal Municipal Municipal Municipal Municipal Federal Federal
Slide 17: Investment Summary
Investment Summary Continuous Improvement Focus 1 Improving throughput on AirSCWO units 2 Currently making important upgrades to AirSCWO units and improving our manufacturing facilities 3 Focus resources where we can be most successful AirSCWO Waste Destruction Systems 4 Opportunities that are neare
Slide 18: 374Water.com
Clean & Sustainable Destruction of Organic Waste NASDAQ: SCWO Company Investor Relations Jim Siccardi Chris Tyson SVP Investor Relations Executive Vice President 374Water MZ North America Direct: 984-374-1222 Direct: 949-491-8235 Jim.Siccardi@374Water.com SCWO@mzgroup.us www.374Water.com www.mzgroup
Slide 19: Appendix
Appendix 18
Slide 20: Leadership Team
Leadership Team Stephen Jones Brad Meyers Raj Melkote Deborah Cooper Interim President & CEO Chief Operations Officer Chief Technology Officer Chief Commercial Officer Mr. Jones was appointed interim CEO in October Brad brings more than 25 years of experience in Raj brings more than 30 years of expe
Slide 21: Board of Directors
Board of Directors Rene Estes Marc Deshusses James Pawloski Ms. Estes serves as Chairperson of the Board for 374Water. For Co-founder of 374Water and inventor of the AirSCWO system. He Mr. Pawloski was the President & CEO of Regeneration and Recovery more than 15 years, Ms. Estes has partnered with
Slide 22: Key Company Events and Outlook
Key Company Events and Outlook 2011-2020 2021 2022 2023 2024 – Foundation for Growth 2025 - Growth & Expansion Initial funding from Bill & Merrell Bros becomes Company listed on Company joins Russell 3000® New leadership team Execute on backlog and convert Pipeline Melinda Gates Foundation to develo
Slide 23: Direct & Indirect Competitive Technologies
Direct & Indirect Competitive Technologies COMPANY / TECHNOLOGY PROS CONS Optimized for treating liquid waste, leading to high Limited capacity efficiency in organic compound destruction Reduced applicability, restricting its use REVIVE / GENERAL ATOMICS (SCWO) Utilizes peroxide or pure oxygen, whic
Slide 24: Disclaimers Relating to the Information Included in "374Water's Business Potential"
Disclaimers Relating to the Information Included in “374Water’s Business Potential” 23
Slide 25: Assumptions, Estimates and Uncertainties Underlying Business Potential at Scale
Assumptions, Estimates and Uncertainties Underlying the Information Included in “374Water’s Business Potential at Scale” All of the information included on the slide titled, “374 Water’s Business Potential was developed in good faith by 374Water’s management based on the best information available,
Slide 26: Assumptions, Estimates and Uncertainties Underlying Business Potential at Scale (cont.)
Assumptions, Estimates and Uncertainties Underlying the Information Included in “374Water’s Business Potential at Scale” (cont.) • 374Water is able to successfully provide waste destruction services to clients, beginning with its AS6 unit and then transitioning its AS30 unit. • 374Water successfully
Slide 27: Assumptions, Estimates and Uncertainties Underlying Business Potential at Scale (cont.)
Assumptions, Estimates and Uncertainties Underlying the Information Included in “374Water’s Business Potential at Scale” (cont.) • 374Water’s costs are not materially impacted by tariffs and other similar trade policies, changes in laws and regulations, etc. (possible impacts from tariffs and relate
Slide 28: Assumptions, Estimates and Uncertainties Underlying Business Potential at Scale (cont.)
Assumptions, Estimates and Uncertainties Underlying the Information Included in “374Water’s Business Potential at Scale” (cont.) • With respect to new products and AS units that have not already been manufactured, that the design work required for all such future AS units and products are timely and