374Water
374Water (NASDAQ: SCWO) is a US cleantech company that commercializes AirSCWO supercritical water oxidation technology to destroy PFAS and other organic contaminants, serving federal, municipal, and industrial customers through system sales and recurring Waste Destruction Services contracts.
- Company typePublic
- Founded2018
- HeadquartersMorrisville, United States
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What 374Water does
374Water Inc. (NASDAQ: SCWO) is a US-based cleantech company that develops and commercializes AirSCWO (Air Supercritical Water Oxidation) technology for the destruction of hazardous and non-hazardous organic contaminants, with a primary focus on PFAS ("forever chemicals") found in wastewater, biosolids, AFFF firefighting foam, granular activated carbon, ion exchange resin, and landfill leachate. The technology operates water above its critical point (374°C and 22.1 MPa), converting waste streams into clean reusable water, inert minerals, and recoverable energy, with independently validated destruction and removal efficiency exceeding 99.9% across six waste types and solid waste volume reduction up to 97%. The company was founded in 2018 around Duke University research, merged with PowerVerde Inc. in April 2021, and listed on NASDAQ in 2022; it is headquartered in Morrisville, North Carolina with manufacturing in Kokomo, Indiana and a Waste Destruction Services facility in Orlando, Florida.
The company operates a dual go-to-market model targeting three primary customer segments: federal government (Department of Defense, military branches), municipal utilities (wastewater treatment facilities, cities), and industrial waste generators. Revenue is generated through one-time AirSCWO system sales (e.g., $4M AirSCWO 6 order from City of Olathe), managed-service Waste Destruction Services contracts deploying mobile or fixed units to customer sites (Orlando WDS projected at $100K-$200K monthly, scaling to $400K+), and per-gallon usage-based treatment contracts (e.g., State of North Carolina AFFF contract for up to 29,000 gallons). The customer base includes Orange County Sanitation District, City of Orlando, City of St. Cloud (Minnesota), City of Olathe (Kansas), Cedar Rapids Water Control Pollution Facility, the State of North Carolina, and the US Department of Defense, supported by engineering consultancy partnerships with Arcadis, Brown and Caldwell, Hazen and Sawyer, WSP, Burns & McDonnell, and Geosyntec. FY2025 revenue was $0.2 million with a net loss of $21 million, reflecting the company is in an early commercialization phase; Q1 2026 gross margins expanded to 63% from 25% year-over-year as Waste Destruction Services began scaling.
374Water firmographics
Firmographics- Name
- 374Water
- Legal name
- 374Water Inc.
- Website
- https://374water.com
- Company type
- Public
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- 374Water (NASDAQ: SCWO) is a US cleantech company that commercializes AirSCWO supercritical water oxidation technology to destroy PFAS and other organic contaminants, serving federal, municipal, and industrial customers through system sales and recurring Waste Destruction Services contracts.
- Ownership category
- akta.pro rank
374Water industry classification
Industry- Product category
- Industrial Wastewater Treatment Systems
- NAICS
- Industrial and Commercial Fan and Blower and Air Purification Equipment Manufacturing (333413), Hazardous Waste Treatment and Disposal (562211), Waste Treatment and Disposal (5622)
- SIC
- Industrial & Commercial Fans & Blowers & Air Purifing Equip (3564), Sanitary Services (4950)
- akta.pro primary industry
- Industrial Hazardous Waste Services (Manufacturing, Refineries, Metals, Automotive) (EUAIAFAG)
- akta.pro secondary industries
- Chemical Tank Cleaning, Decontamination & Turnaround Waste Services (BPALAHAH), Air Quality & Filtration Equipment (IAQ) (IMAHAKAI)
Keywords
Where 374Water is headquartered
LocationHeadquarters
- HQ city
- Morrisville
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
374Water business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Personnel, Technology or R&D, Operations, Supply Chain, Marketing or Sales, Infrastructure
Revenue model
- Waste Destruction Services: Mobile and fixed AirSCWO unit deployment for on-site waste destruction services. Customers include municipalities and industrial partners. Orlando WDS facility expected to generate $100,000-$200,000 monthly initially, scaling to over $400,000 monthly by late 2027. St. Cloud pilot contract valued at $600,000.
- AirSCWO System Sales: Sale of AirSCWO systems (AirSCWO 6) to municipal and industrial customers. $4 million order from City of Olathe for AirSCWO 6 system for wastewater treatment evaluation over six-month testing period.
- Per-Gallon Treatment Contracts: Treatment contracts based on volume of waste destroyed. North Carolina AFFF destruction contract involves treating up to 29,000 gallons of AFFF with first phase treating 1,000 gallons.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Monthly | Waste Destruction Services - recurring monthly revenue model |
| One time/ perpetual license | Multi-year contract | AirSCWO 6 System Evaluation Contract |
| Outcome Based/ Performance | Multi-year contract | Mobile PFAS Destruction Pilot |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels5 records
374Water product offering
Product offeringCore offering
374Water develops, manufactures, and deploys AirSCWO (Air Supercritical Water Oxidation) systems that destroy hazardous and non-hazardous organic contaminants including PFAS, AFFF, biosolids, GAC, ion exchange resin, and landfill leachate, converting waste into clean reusable water, inert minerals, and recoverable energy. The company sells AirSCWO systems (including the AirSCWO 6 fixed system and mobile units) directly to municipal, federal, and industrial customers, and provides Waste Destruction Services contracts where mobile AirSCWO units are deployed to customer sites for on-site treatment, generating recurring service revenue.
Product overview
374Water is a cleantech company offering the AirSCWO (Air Supercritical Water Oxidation) technology as its core product - a modular system that destroys hazardous organic contaminants including PFAS and other forever chemicals. The company operates two go-to-market models: (1) selling or deploying AirSCWO systems (including the AirSCWO 6 model and mobile units) to Industrial, Federal, and Municipal customers, and (2) providing Waste Destruction Services (WDS) contracts where 374Water operates its systems at customer sites. The Orlando WDS facility represents the company's first owned recurring revenue operation. The technology converts waste into clean water, inert minerals, and recoverable energy, achieving up to 99.9999% pollutant destruction efficiency.
Differentiator
Problem solved
Functional benefit
Brands
- AirSCWO: Supercritical Water Oxidation technology that destroys hazardous and non-hazardous organic contaminants in wastewater, PFAS solutions, and sludges—converting waste into clean, reusable water, inert minerals, and recoverable energy.
Products and services
- AirSCWO System 374Water's primary product - a modular supercritical water oxidation system that destroys hazardous and non-hazardous organic contaminants including PFAS, converting waste into clean water, inert minerals, and recoverable energy. Achieves up to 99.9999% pollutant reduction and up to 97% solid waste volume reduction. Targets Industrial, Federal, and Municipal customers.
- Waste Destruction Services (WDS) Contract-based waste destruction service using AirSCWO technology to permanently destroy PFAS-contaminated wastes including sludges/biosolids, AFFF, granular activated carbon, ion exchange resin, and landfill leachate for Industrial, Federal, and Municipal customers. Generates recurring monthly revenue through usage-based per-gallon treatment contracts.
- AirSCWO 6 System Larger-scale AirSCWO system designed for municipal and industrial applications, exemplified by the $4 million deployment with the City of Olathe for sustainable sludge management and waste treatment evaluation.
- Mobile AirSCWO Unit Portable version of the AirSCWO system deployed to customer sites for on-site PFAS waste destruction, as demonstrated in the $600,000 St. Cloud pilot contract and used as the foundation for Waste Destruction Services deployments.
Quantifiable outcome
- >99.9% destruction and removal efficiency for PFAS across six contaminated waste streams
- +3 more outcomes
Companies that use 374Water
Customer profileNamed customers7 records
Segments3 records
Ideal customer profiles3 records
374Water technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
374Water partnerships and signals
Strategic signalPartnerships
17 partnerships are on record, tiered core and major.
- Orange County Sanitation DistrictcoreFirst commercial customer since 2022. AirSCWO system for destroying biosolids contaminated with PFAS at Orange County Sanitation District in southern California. Factory acceptance test passed; deployment planned for October 2026.
- Cedar Rapids Water Control Pollution FacilitycorePartnership to destroy PFAS in biosolids. Cedar Rapids is one of Iowa's largest advanced wastewater treatment facilities, processing 45 million gallons daily and generating 120 tons of sludge per day. Project to begin early Q1 2026 with independent lab validation expected by late Q1 or early Q2 2026.
- Brown and CaldwellcoreEnvironmental consultancy Brown and Caldwell collaborating on Cedar Rapids PFAS destruction project for technical expertise and validation support.
- City of Olathecore$4 million AirSCWO 6 system order from City of Olathe, Kansas for sustainable sludge management and waste treatment evaluation over six months, assessing ability to remove organic pollutants including PFAS from wastewater sludge.
- Garney Constructioncore$4.5 million contract with City of Olathe through Garney Construction for deployment of AirSCWO system. Garney serves as project delivery partner for municipal water infrastructure projects.
- Defense Innovation Unit (DIU)coreU.S. government program led by DIU and ESTCP for PFAS destruction technology validation. 374Water completed commercial-scale demonstration under this official government program.
- US Army Corps of EngineerscoreFederal government partner for environmental remediation and PFAS destruction projects.
- ArcadismajorEnvironmental consultancy providing independent evaluation and validation of AirSCWO PFAS destruction results. Presented validated results at NEWMOA Science of PFAS Conference.
- US Air Force Civil Engineer CentercoreFederal partner for PFAS remediation and destruction projects at military installations.
- NAVFAC (Naval Facilities Engineering Systems Command)coreNaval facilities partner for PFAS destruction and environmental remediation projects.
- Colorado School of MinesmajorAcademic partnership for research and development in supercritical water oxidation technology.
- Hazen and SawyermajorEnvironmental engineering consultancy partner for water and wastewater treatment projects.
- WSPmajorGlobal engineering and professional services firm partner for environmental projects.
- Burns & McDonnellmajorEngineering consultancy partner for infrastructure and environmental projects.
- Geosyntec ConsultantsmajorEnvironmental and groundwater consultancy partner for remediation projects.
- Barr EngineeringmajorEnvironmental engineering consultancy partner for projects.
- State of MinnesotacoreAwarded project by State of Minnesota to destroy PFAS in biosolids for City of St. Cloud. Project leverages AirSCWO technology with collaboration with local institutions.
Scale indicators12 records
Recent moves8 records
Expansion highlights6 records
374Water competitors and assessment
Company assessmentDirect peers
- Aclaris Water: Direct competitor using supercritical water oxidation (SCWO) technology for hazardous industrial waste destruction, including PFAS. Most comparable pure-play SCWO peer with similar municipal/industrial customer focus and mobile/fixed deployment model.
- Revive Environmental Technology: Direct competitor providing PFAS destruction services using thermal treatment technologies to industrial and federal customers. Competes head-to-head with 374Water for AFFF and PFAS-contaminated waste destruction contracts at military and municipal sites.
- Thermal Kinetics: SCWO technology developer and equipment provider for industrial waste destruction applications. Competes directly with 374Water in the SCWO equipment market with similar high-temperature, high-pressure oxidation technology for hazardous waste.
Emerging players
- Aquagga: Emerging PFAS destruction technology company developing hydrothermal treatment processes for PFAS-contaminated waste. Competes in the same federal/municipal PFAS destruction space with alternative destruction technology.
- General Atomics: Defense contractor with PFAS destruction technology developed under DoD-funded programs. Competes with 374Water for military PFAS remediation contracts and has commercial destruction capabilities targeting the same federal customer segment.
Broad incumbents
- Clean Harbors: Largest North American provider of hazardous waste management and disposal services. Offers PFAS handling, incineration, and waste treatment as part of broad environmental services portfolio, competing with 374Water for industrial and government hazardous waste contracts.
- Veolia North America: Global environmental services giant with hazardous waste treatment, biosolids management, and PFAS-related capabilities. Competes broadly in municipal wastewater and industrial waste markets where 374Water is positioning its WDS services.
- Republic Services: Major US solid waste and environmental services provider with PFAS-related disposal capabilities. While primarily a solid waste hauler, it competes for municipal waste management contracts where biosolids/PFAS destruction is becoming a service line.
- Waste Management Inc: Largest North American waste services company with growing PFAS-handling and disposal capabilities through its environmental services division. Competes with 374Water for municipal biosolids and industrial hazardous waste contracts.
- Battelle Memorial Institute: Major nonprofit research organization with extensive DoD environmental remediation work including PFAS destruction research and field deployments. Competes for federal PFAS contracts and provides independent validation services similar to those supporting 374Water.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
374Water social profiles
Digital presence374Water financial estimates
Financial estimateRevenue estimate
Valuation estimate
374Water leadership team
Management profileNumber of profiles
Profiles14 records
374Water funding detail
Funding detailFunding overview
Funding rounds2 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
374Water M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about 374Water
What does 374Water do?
374Water develops, manufactures, and deploys AirSCWO (Air Supercritical Water Oxidation) systems that destroy hazardous and non-hazardous organic contaminants including PFAS, AFFF, biosolids, GAC, ion exchange resin, and landfill leachate, converting waste into clean reusable water, inert minerals, and recoverable energy. The company sells AirSCWO systems (including the AirSCWO 6 fixed system and mobile units) directly to municipal, federal, and industrial customers, and provides Waste Destruction Services contracts where mobile AirSCWO units are deployed to customer sites for on-site treatment, generating recurring service revenue.
Is 374Water a public or private company?
374Water is a public company. It is classified as public and is currently operating.
When was 374Water founded?
374Water was founded in 2018. It employs 11 to 50 people.
Where is 374Water based?
374Water is headquartered in Morrisville, United States, in the North America region.
How does 374Water make money?
Three revenue lines are on record. Waste Destruction Services are the primary driver. The others are airSCWO System Sales and per-Gallon Treatment Contracts.
Who are 374Water's main competitors?
Direct peers on record are Aclaris Water, Revive Environmental Technology and Thermal Kinetics. Emerging players are Aquagga and General Atomics. Broad incumbents are Clean Harbors, Veolia North America, Republic Services, Waste Management Inc and Battelle Memorial Institute.
Does 374Water have an API?
No public API is recorded for 374Water.
What industry is 374Water in?
374Water's product category is Industrial Wastewater Treatment Systems. Its primary akta.pro industry code is EUAIAFAG, Industrial Hazardous Waste Services (Manufacturing, Refineries, Metals, Automotive), with a secondary code of BPALAHAH, Chemical Tank Cleaning, Decontamination & Turnaround Waste Services. Its NAICS code is 333413 and its SIC code is 3564.