374Water Inc
NASDAQ:SCWO
374Water Inc
374Water, Inc. is a clean technology company. The company is headquartered in Phoenix, Arizona. The firm has developed waste stream treatment systems based on Supercritical Water Oxidation (SCWO), namely the AirSCWO. The AirSCWO systems are essentially waste stream agnostic and able to treat various complex, hazardous and non-hazardous waste streams. Its SCWO is a physical-thermal process powered by water at its critical point (374°C and 221 bar) and air that yields an effective oxidation reaction that eliminates organic compounds. The firm offers AirSCWO as a modular and containerized system. The company offers a six wet tons per day throughput capacity system. Its system is used in various applications, such as residuals and biosolids, animal waste, industrial waste and sludges, food waste, spent media and landfill leachate. The firm provides services to businesses and local governments.
374Water, Inc. is a clean technology company. The company is headquartered in Phoenix, Arizona. The firm has developed waste stream treatment systems based on Supercritical Water Oxidation (SCWO), namely the AirSCWO. The AirSCWO systems are essentially waste stream agnostic and able to treat various complex, hazardous and non-hazardous waste streams. Its SCWO is a physical-thermal process powered by water at its critical point (374°C and 221 bar) and air that yields an effective oxidation reaction that eliminates organic compounds. The firm offers AirSCWO as a modular and containerized system. The company offers a six wet tons per day throughput capacity system. Its system is used in various applications, such as residuals and biosolids, animal waste, industrial waste and sludges, food waste, spent media and landfill leachate. The firm provides services to businesses and local governments.
Revenue Surge: Q3 2025 revenue jumped to $760,000 from $81,000 a year ago, reflecting significant growth mainly from waste destruction services.
2025 & 2026 Outlook: Management reaffirmed 2025 revenue guidance of about $4 million and introduced 2026 guidance of $6–8 million, representing a projected 50%–100% increase year-over-year.
Business Model Focus: The company is prioritizing its waste destruction services model, which promises recurring revenue and higher margins, though capital equipment sales and leases remain part of the strategy.
Major Project Wins: Key recent wins include a collaboration with Crystal Clean, a municipal sale to Olathe, Kansas, and a new contract with North Carolina for destroying firefighting foam (AFFF).
Balance Sheet Actions: Raised $7 million through an at-the-market facility, extending cash runway into Q2 2026; certain officers and directors purchased shares in Q3.
NASDAQ Listing Risk: Company is seeking shareholder approval for a potential reverse stock split to maintain NASDAQ compliance after its share price fell below $1.
Operational Improvements: Management is focused on boosting throughput of AirSCWO units and deploying Lean Six Sigma practices to improve margins and efficiency.
Market Opportunity: The total addressable waste treatment market is estimated at $450 billion, with urgent demand for PFAS destruction solutions.
