374Water Inc (SCWO)

In August 2025, the company's Q2 earnings call reported revenue growth but a widened net loss. In September 2025, company insiders made open-market stock purchases, and an update on Waste Destruction Services announced a delay in the AirSCWO 6 System deployment due to supply chain issues and permitting. In October 2025, the CEO discussed growing momentum in WDS and global demand for AirSCWO, targeting completion of the Orange County installation by late 2025 or early 2026, and highlighting an agreement with Crystal Clean. In November 2025, the Q3 earnings call reported revenues of $760,000 but a widened net loss of $4.3 million, alongside a significant decrease in cash reserves. In December 2025, 374Water received Waste Destruction Services funding from Minnesota for PFAS destruction and was selected by Cedar Rapids, Iowa, for a PFAS destruction project. Several appointments to its Board of Directors were also announced in December 2025 and January 2026. Overall, the stock experienced a significant decline and high volatility.

Demand for 374Water, Inc.’s products and services does not appear to be seasonal. The company is experiencing immense demand driven by tightening global regulations concerning PFAS and hazardous waste. Municipalities, state and federal government agencies, and industrial clients are actively seeking sustainable, next-generation solutions for waste management.

374Water, Inc. is a US-based cleantech company specializing in wastewater treatment and waste management solutions. Their AirSCWO technology destroys organic wastes, including sewage sludge, biosolids, food waste, hazardous waste, and PFAS, transforming them into recoverable resources without harmful byproducts. The company operates in the Industrials sector, focusing on Pollution & Treatment Controls.

Headquartered in Morrisville, North Carolina, 374Water, Inc. primarily focuses its operations on the North American market, serving municipal, federal, and industrial clients. The company has an AirSCWO system being deployed in Orange County, California, and has secured a waste destruction services contract with the State of North Carolina. Looking ahead, 374Water has expressed plans for international expansion into regions such as Europe and Asia.

374Water's brand reputation has been largely positive, centered on its innovative and effective AirSCWO technology, which is recognized for destroying various organic wastes, including PFAS, to non-detectable levels. The company is positioned as a leader in sustainable waste treatment solutions, further bolstered by the EPA naming supercritical water oxidation technology as an emerging PFAS destruction technology. The company reported a substantial backlog and pipeline, indicating strong market confidence and demand for its solutions. No specific negative events impacting the company's brand reputation, beyond general financial performance and stock volatility, were identified.

374Water, Inc. has a mix of institutional, insider, and retail ownership. Major institutional owners include Vanguard Group Inc., Hamilton Lane Advisors LLC, Icon Wealth Advisors LLC, and Millennium Management LLC. Prominent individual owners (insiders) include Yaacov Nagar, Marc Deshusses, and Terry Merrell.