374Water Inc (NASDAQ:SCWO) revealed its second-quarter revenue jumped to $600,000 from $37,000 a year earlier, driven by biosolids destruction work in Orlando, equipment sales and treatability studies.
CEO Chris Gannon said the quarter was marked by “strong momentum” for its AirSCWO technology, including the start of a biosolids destruction project in Orlando and progress on manufacturing an AS6 system for Orange County Sanitation, expected to be deployed in the second half of 2025.
“We recently completed the successful waste destruction of PFAS in biosolids utilizing our AirSCWO system, producing effluent with PFAS concentrations at non-detectable levels,” the CEO said in a statement.
“With destruction across a wide variety of solid and liquid waste streams, we believe our technology is well positioned to generate demand across market verticals in municipal, federal, and industrial waste destruction.”
374Water also delivered an AS6 system to Clean Earth’s Detroit facility for a US Department of Defense project evaluating PFAS destruction technologies and deployed its system in a Colorado School of Mines and DoD program comparing solutions for contaminated waste.
Gannon said recent successful PFAS destruction tests and ongoing system improvements position 374Water to expand across municipal, federal, and industrial markets in the second half of the year.
During the quarter the firm appointed former Covanta CEO Stephen Jones and former Veolia North America executive James Pawloski to its board to support commercial rollout.
“In the second half of 2025, we anticipate completing the manufacturing of an AS1 system, deploying an AS6 system to OC San, and making progress toward the launch of our initial WDS operations,” Gannon told investors.
The company, which develops supercritical water oxidation (SCWO) systems for waste destruction, reported a net loss of $4.6 million for the quarter ended June 30, compared with a $2.9 million loss a year earlier, as operating expenses rose 45% on higher headcount, compensation and administrative costs.
Cash and cash equivalents stood at $2.1 million at quarter-end.