374Water Inc (NASDAQ:SCWO) provided an update on its Waste Destruction Services (WDS) businesses as well as an updated timeline for the deployment of its AirSCWO 6 System to the Orange County Sanitation District.
The provider of organic waste destruction technology and services said over the next 12 to 18 months, the company intends to establish multiple WDS operations at Treatment, Storage, and Disposal Facilities (TSDF) partner facilities in the US.
“As more organizations seek responsible waste management strategies, we believe 374Water is positioned to become a trusted partner for complete waste destruction,” 374Water CEO Chris Gannon said in a statement.
“In conjunction with our TSDF partner, we have begun to aggressively bid on tens of millions of dollars in WDS contracts across our market segments and believe we are in a strong position to receive substantial awards.”
374Water noted that WDS is a significant and accretive potential revenue stream from treating hazardous and non-hazardous wastes.
As well, the company stated that the delivery of 374Water’s AS6 system to Orange County Sanitation, most recently scheduled for late September, is being postponed due to mutually agreed-upon technology and infrastructure upgrades.
These were slower than desired due to supply chain delays for specific components, as well as due to delays in receiving required permits to operate in California.
The company said it is hoping to ship its AirSCWO system late in the fourth quarter, or early next year.