374Water will demonstrate PFAS waste treatment solutions for the DoD, supporting fluorine-free foam transition efforts.
Quiver AI Summary
374Water Inc. has announced its involvement in a Department of Defense (DoD) project aimed at providing commercial-scale technology solutions for destroying hazardous per- and polyfluoroalkyl substances (PFAS) found in firefighting foams and contaminated water sources. Under the DoD's Environmental Security Technology Certification Program (ESTCP) and in collaboration with the Defense Innovation Unit (DIU), 374Water will demonstrate its AirSCWO technology in Detroit, MI, to effectively treat PFAS waste. This initiative responds to the urgent need for PFAS remediation due to environmental regulations, such as the U.S. National Defense Authorization Act which mandates the transition to fluorine-free firefighting foams. The technology has already shown to destroy over 99.99% of PFAS compounds efficiently, transforming hazardous waste into safe by-products. This collaboration aims to showcase the effectiveness and scalability of 374Water's solutions while addressing critical national security and environmental sustainability challenges.
Potential Positives
- 374Water's participation in a Department of Defense project positions the company as a leader in addressing the urgent need for PFAS treatment solutions, potentially enhancing its market reputation and drawing in future contracts.
- The company's AirSCWO technology, which has demonstrated its effectiveness in destroying >99.99% of PFAS compounds, supports efforts to meet stringent environmental regulations, creating opportunities for growth in government and industrial markets.
- Collaborating with established partners like Arcadis and Clean Earth on this DoD initiative enhances credibility and expertise, which may facilitate further commercial opportunities and advancements in environmental sustainability.
- The upcoming demonstration at Clean Earth’s facility underscores 374Water's commitment to innovation and scalability in waste management solutions, appealing to a broader range of federal, state, and municipal clients.
Potential Negatives
- The reliance on the Department of Defense project to showcase the efficacy of their technology may indicate a lack of broad market acceptance outside of government contracts.
- The upcoming requirement to replace firefighting foams and the associated regulatory pressures may suggest the company's technology is operating in a highly regulated and potentially volatile environment.
- Challenges in scaling the AirSCWO technology in real-world applications could impact the company's reputation if demonstrations do not meet expectations.
FAQ
What is the purpose of the ESTCP project?
The ESTCP project aims to identify commercial-scale technology solutions for destroying PFAS-contaminated wastes at DoD installations.
How does 374Water's technology address PFAS contamination?
374Water's AirSCWO technology efficiently destroys over 99.99% of PFAS compounds, transforming hazardous waste into safe by-products.
What are PFAS and why are they a concern?
PFAS, or “forever chemicals,” are hazardous synthetic compounds that pose significant risks to human health and the environment.
Who are the partners involved in the demonstration project?
The demonstration project involves collaboration between 374Water, Arcadis, and Clean Earth to deploy AirSCWO technology.
What is the timeline for the transition to fluorine-free firefighting foams?
The U.S. National Defense Authorization Act mandates the transition to fluorine-free firefighting foams at DoD installations by October 2024.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SCWO Insider Trading Activity
$SCWO insiders have traded $SCWO stock on the open market 30 times in the past 6 months. Of those trades, 8 have been purchases and 22 have been sales.
Here’s a breakdown of recent trading of $SCWO stock by insiders over the last 6 months:
- YAACOV NAGAR has made 0 purchases and 22 sales selling 936,957 shares for an estimated $1,114,170.
- JAMES MICHAEL VANDERHIDER purchased 250,000 shares for an estimated $312,500
- CHRIS M GANNON (President & CEO) purchased 120,000 shares for an estimated $150,000
- RICHARD H DAVIS purchased 40,000 shares for an estimated $50,000
- MARC DESHUSSES purchased 32,000 shares for an estimated $40,000
- DEANNA RENE ESTES purchased 24,000 shares for an estimated $30,000
- BUDDIE J PENN purchased 20,000 shares for an estimated $25,000
- PETER MANDEL (General Counsel) purchased 10,800 shares for an estimated $13,500
- ADRIENNE ANDERSON (Chief Financial Officer) purchased 10,000 shares for an estimated $12,500
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$SCWO Hedge Fund Activity
We have seen 37 institutional investors add shares of $SCWO stock to their portfolio, and 15 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- ICON WEALTH ADVISORS, LLC removed 1,097,527 shares (-95.7%) from their portfolio in Q3 2024, for an estimated $1,492,636
- RAYMOND JAMES FINANCIAL SERVICES ADVISORS, INC. removed 170,899 shares (-31.7%) from their portfolio in Q3 2024, for an estimated $232,422
- GEODE CAPITAL MANAGEMENT, LLC added 158,482 shares (+11.3%) to their portfolio in Q3 2024, for an estimated $215,535
- BLACKROCK, INC. added 123,341 shares (+3.2%) to their portfolio in Q3 2024, for an estimated $167,743
- MORGAN STANLEY added 103,775 shares (+127.3%) to their portfolio in Q3 2024, for an estimated $141,134
- JPMORGAN CHASE & CO added 95,249 shares (+324.7%) to their portfolio in Q3 2024, for an estimated $129,538
- CHARLES SCHWAB INVESTMENT MANAGEMENT INC added 83,198 shares (+20.0%) to their portfolio in Q3 2024, for an estimated $113,149
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Full Release
ESTCP will Demonstrate Treatment Options for DoD Installations Impacted by Hazardous Chemicals Found in Firefighting Foams, Industrial Processes, and Contaminated Water Sources
U.S. National Defense Authorization Act Mandates Transition to Fluorine-Free Firefighting Foams at DoD Installations, Highlighting Growing Demand for Reliable and Scalable PFAS Destruction Technologies
DURHAM, N.C., Feb. 05, 2025 (GLOBE NEWSWIRE) -- 374Water Inc. (NASDAQ: SCWO) (“374Water”) (the “Company”), a global leader in organic waste destruction technology for the federal, state, municipal, and industrial markets, is proud to announce its participation in a highly anticipated Department of Defense (DoD) project aimed at identifying commercial-scale technology solutions to destroy per- and polyfluoroalkyl (“PFAS”) contaminated wastes. Building on the proven capabilities of its AirSCWO technology in commercial-scale applications, 374Water is poised to showcase its cutting-edge solution in this important DoD project.
The Defense Innovation Unit (“DIU”) is focused on accelerating the adoption of commercial and dual-use technology to solve operational challenges at speed and scale, awarding scalable contracts to companies offering solutions to national security challenges across a variety of technology areas. DIU also helps minimize up-front costs for commercial tech companies interested in working with DoD.
The upcoming demonstration represents a collaboration between the DoD Environmental Security Technology Certification Program ("ESTCP”) and the DIU.
“With a successful demonstration, the prototypes will be able to provide treatment options for DoD installations impacted by PFAS,” said Dr. Andrea Leeson, ESTCP Deputy Director and Environmental Restoration Program Manager.
374Water, in partnership with Arcadis and Clean Earth, will deploy its AirSCWO technology to destroy PFAS in various forms, including highly concentrated waste streams, during a series of commercial-scale demonstrations at Clean Earth’s Detroit, MI facility. According to Richard “Hunter” Anderson, an environmental scientist at the U.S. Air Force Civil Engineer Center in San Antonio, Texas, this project “…represents a major step forward in the effort to provide the DoD with commercial PFAS treatment options for a variety of scenarios.” This deployment follows multiple successful PFAS destruction demonstrations completed by 374Water for Federal and Industrial clients. Results of these treatments will be publicly released in the near future.
PFAS “forever chemicals” are a group of thousands of synthetic chemicals which are persistent and hazardous. PFAS are found in a wide range of municipal, federal, and industrial processes, and contaminated public and private water sources. PFAS have been shown to pose significant risks to human health and the environment. The urgency of PFAS remediation is underscored by stringent environmental regulations, such as the U.S. National Defense Authorization Act (“NDAA”), which mandated the transition to fluorine-free firefighting foams at DoD installations by October 2024. The DoD initiative, which combines methods for concentrating and destroying PFAS, both on- and off-site, highlights the growing demand for reliable and scalable PFAS destruction technologies.
“While our success in destroying PFAS-impacted waste streams like Aqueous Film-Forming Foam (“AFFF”) at commercial scale has solidified AirSCWO as a reliable solution for PFAS disposal, we are now focused on applying our technology to meet the DoD’s most pressing PFAS treatment challenges,” said Chris Gannon, CEO of 374Water. “Through this initiative, we aim to further demonstrate the effectiveness and adaptability of our AirSCWO technology. We look forward to further showcasing the versatility and scalability of AirSCWO in addressing diverse waste streams and supporting the DoD’s efforts to advance environmental sustainability.”
Craig Divine, Ph.D., Senior Vice President at Arcadis and Project Principal Investigator, emphasized, “This collaboration represents a synergy of exciting technology, world-class expertise, and a practical strategy for scale-up and accelerated commercialization. As we coordinate the implementation and performance analysis aspects of this pivotal project, Arcadis is proud to partner with 374Water and Clean Earth in delivering advanced solutions that result in the complete destruction of PFAS contamination in water, soils, and wastes.”
374Water’s AirSCWO System has proven technology capabilities in commercial-scale applications, including the destruction of Aqueous Film-Forming Foam, Granular Activated Carbon, Ion Exchange Resin, Landfill Leachate, and Biosolids. AirSCWO, which harnesses the power of supercritical water oxidation, has consistently demonstrated its ability to destroy >99.99% of PFAS compounds within seconds. The AirSCWO destruction process safely transforms hazardous waste into clean water, mineral by-products, and recoverable heat energy, offering an efficient and sustainable pathway to mitigating PFAS pollution.
“We believe our versatile AirSCWO technology is the most effective commercial-scale PFAS destruction solution available today and look forward to supplying equipment and destruction services to federal, state and municipal government agencies,” concluded Gannon.
About Defense Innovation Unit
The Defense Innovation Unit (“DIU”) strengthens national security by accelerating the adoption of commercial technology throughout the military and bolstering our allied and national security innovation bases. DIU partners with organizations across the Department of Defense (“DoD”) to rapidly prototype and field dual-use capabilities that solve operational challenges at speed and scale. With offices in Silicon Valley, Boston, Austin, Chicago and inside the Pentagon, DIU is the Department’s gateway to leading technology companies across the country.
About 374Water
374Water Inc. (NASDAQ: SCWO) is a global cleantech 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
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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 process a range of waste and contaminants, including AFFF, at scale, the regulatory environment, and our future prospects 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 Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, 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.
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