374Water Reports First Quarter 2025 Financial Results

About this update from 374water Inc.

Multiple Deployments Scheduled throughout 2025 to Showcase AirSCWO Technology Launched Waste Destruction Services and Signed RCRA Part B TSDF Partner Agreement to Expand Onsite Operations New Executive Team and Director Appointments to Drive Commercial Trajectory DURHAM, N.C., May 15, 2025 (GLOBE NEWSWIRE) -- 374Water Inc. (NASDAQ: SCWO) ("374Water") (the "Company"), a global leader in waste destruction technology for the municipal, federal, and industrial markets, today reported its financial and operational results for the first quarter ended March 31, 2025. “The first quarter of 2025 was focused on our robust, actionable backlog and pipeline and accelerating our proprietary AirSCWO (“AS”) system's commercial trajectory,” said Chris Gannon, President and CEO of 374Water. “Building on the success of our AS system deployed to the City of Orlando's Iron Bridge Water Reclamation Facility, we continued to make progress during the quarter for the expected deployment to Orange County Sanitation (“OC San”) in the second half of the year. We were also awarded a contract by the State of North Carolina to destroy 1,000 gallons of aqueous film forming form (“AFFF”) containing per- and polyfluoroalkyl ("PFAS"), this contract could increase by up to 29,000 gallons in a subsequent phase. “To support our commercial rollout and operational execution, we continued to buildout our executive team and Board. Raj Melkote, Chief Technology Officer, brings tremendous expertise in strategy, product commercialization, new product development, and core technology innovation enabling us to more rapidly scale our business and further ruggedize and refine our AS technology. Stephen Jones, our newest independent director, has extensive experience in corporate leadership including as CEO of Covanta, board roles, and expertise in environmental services and industrial gases and chemicals. His appointment adds critical and valuable components to the board with his decades of industry experience and, equally important, his key relationships that will open doors with new partners. Most recently we welcomed James Pawloski as an Advisor and have also nominated him to serve as an independent director. As the former CEO of Regeneration and Recovery Solutions at Veolia North America, we expect his perspective and extensive experience in waste, wastewater, and environmental solutions to support our commercialization. “The U.S. Environmental Protection Agency (“EPA”) recently announced major actions to combat per- and polyfluoroalkyl substances (“PFAS”) contamination and we believe these actions and the regulatory environment for PFAS will create strong demand tailwinds for our AirSCWO platform designed to destroy a wide variety of non-hazardous and hazardous organic wastes reaching non-detect or below EPA required levels, including PFAS. We expect the planned actions to quantify liabilities and expand PFAS remediation efforts could drive significant interest in our technology as companies look to limit liability and public funds are allocated for cleanup efforts. “Looking ahead, with the completion of numerous municipal, federal, and industrial waste destruction demonstrations on a wide variety of solid and liquid waste streams, we are generating demand across these markets. We have made significant progress ruggedizing and optimizing our AS system and are continuing to improve our AS technology. We are completing the manufacturing of an AS1 and an AS6 unit and anticipate launching and beginning to accept third-party waste streams at our initial Waste Destruction Services (“WDS”) operations. In addition to our OC San deployment, we expect multiple additional deployments throughout 2025 to showcase the AS system. We look forward to additional milestones and announcements in the months ahead,” concluded Gannon. Recent Highlights Anticipated Upcoming Events First Quarter 2025 Financial Summary First Quarter 2025 Results Conference Call 374Water CEO Chris Gannon and CFO Russell Kline will host the conference call, followed by a question-and-answer period. The conference call will be accompanied by a presentation, which can be viewed during the webcast or accessed following the call via the investor relations section of the Company's website here . To access the call, please use the following information: A telephone replay will be available approximately three hours after the call and will run through May 29, 2025, by dialing 1-844-512-2921 from the U.S., or 1-412-317-6671 from international locations, and entering replay pin number: 13753142. The replay can also be viewed through the webcast link above and the presentation utilized during the call will be available in the Company's investor relations section here . About 374Water 374Water Inc. (NASDAQ: SCWO) is a global industrial technology and services company providing innovative solutions addressing wastewater treatment and waste management issues within the municipal, federal and industrial markets. 374Water's AirSCWO technology is designed to efficiently destroy and mineralize a broad spectrum of organic non-hazardous and hazardous organic wastes producing safe dischargeable water streams, safe mineral effluent, safe vent gas, and recoverable heat energy. 374Water's AirSCWO technology has the potential to assist its customers to meet discharge requirements, reduce or eliminate disposal costs, remove bottlenecks, and reduce litigation and other risks. 374Water continues to be a leader in innovative waste treatment solutions, dedicated to creating a greener future and eradicating harmful pollutants. Learn more by visiting www.374water.com and follow us on LinkedIn . Cautionary Language on Forward-Looking Statements Certain statements in this communication are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements relate to future events or our future financial performance, including statements relating to our ability to execute on our strategic plan, our ability to process a range of waste and contaminants at scale, our progress toward commercialization, the timing to complete our demonstration in Orlando, the timing to manufacture and deploy AirSCWO systems, including the deployment to OC San, demand for our products, including capital sales, leases, and waste destruction services, whether we will receive additional AFFF to destroy from North Carolina, whether we will be successful in converting our pipeline to revenue, the regulatory environment, and whether we will be able to scale our business to meet demand, and involve known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or our achievements or those of our industry to be materially different from those expressed or implied by any forward-looking statements. In some cases, forward-looking statements may be identified by the use of words like "may," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "estimate," "project," "consider," "predict," "potential," "feel," or other comparable terminology. The Company has based these forward-looking statements on its current expectations, assumptions, estimates, beliefs, and projections. While the Company believes these expectations, assumptions, estimates, and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which involve factors or circumstances that are beyond the Company's control. These and other important factors, including those discussed under "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2025, as well as the Company's subsequent filings with the SEC, may cause actual results, performance, or achievements to differ materially from those expressed or implied by these forward-looking statements. The forward-looking statements herein are made only as of the date they were first issued, and unless otherwise required by applicable securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Investor Relations and Media Contact Chris Tyson Executive Vice President MZ North America Direct: 949-491-8235 [email protected] www.mzgroup.us

View stock analysis, news, and events for 374water Inc.