374Water

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.

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

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

• Supercritical water oxidation
• PFAS destruction services
• Wastewater treatment equipment
• Hazardous waste destruction
• Biosolids treatment systems

Headquarters

HQ city

Morrisville

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Operations, Supply Chain, Marketing or Sales, Infrastructure

Revenue model

1. 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.
2. 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.
3. 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

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core 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

Named customers7 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

17 partnerships are on record, tiered core and major.

• Orange County Sanitation DistrictcoreStrategic or Co-development Partner · 2 June 2026First 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 FacilitycoreStrategic or Co-development Partner · 26 December 2025Partnership 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 CaldwellcoreImplementation/ SI/ Consulting Partner · 26 December 2025Environmental consultancy Brown and Caldwell collaborating on Cedar Rapids PFAS destruction project for technical expertise and validation support.
• City of OlathecoreStrategic or Co-development Partner · 28 October 2025$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 ConstructioncoreChannel Partner/ Reseller/ Distributor · 1 January 2025$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)coreStrategic or Co-development PartnerU.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 EngineerscoreStrategic or Co-development PartnerFederal government partner for environmental remediation and PFAS destruction projects.
• ArcadismajorImplementation/ SI/ Consulting PartnerEnvironmental 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 CentercoreStrategic or Co-development PartnerFederal partner for PFAS remediation and destruction projects at military installations.
• NAVFAC (Naval Facilities Engineering Systems Command)coreStrategic or Co-development PartnerNaval facilities partner for PFAS destruction and environmental remediation projects.
• Colorado School of MinesmajorStrategic or Co-development PartnerAcademic partnership for research and development in supercritical water oxidation technology.
• Hazen and SawyermajorImplementation/ SI/ Consulting PartnerEnvironmental engineering consultancy partner for water and wastewater treatment projects.
• WSPmajorImplementation/ SI/ Consulting PartnerGlobal engineering and professional services firm partner for environmental projects.
• Burns & McDonnellmajorImplementation/ SI/ Consulting PartnerEngineering consultancy partner for infrastructure and environmental projects.
• Geosyntec ConsultantsmajorImplementation/ SI/ Consulting PartnerEnvironmental and groundwater consultancy partner for remediation projects.
• Barr EngineeringmajorImplementation/ SI/ Consulting PartnerEnvironmental engineering consultancy partner for projects.
• State of MinnesotacoreStrategic or Co-development PartnerAwarded 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

Direct 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

• YouTubeyoutube.com/@374-Water
• LinkedInlinkedin.com/company/374water
• Xx.com/374water

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about 374Water