374Water Inc (NASDAQ:SCWO) said on Wednesday it expects revenue to rise to between $6 million and $8 million in 2026 as the company accelerates commercialization of its Super Critical Water Oxidation (SCWO) technology and expands partnerships across North America.
The company, a developer of sustainable waste destruction systems, reported third-quarter revenue of $760,000, up sharply from $81,000 a year earlier, driven by new service contracts and growing demand for PFAS waste treatment.
Interim CEO Stephen Jones said 374Water’s recent projects demonstrate the commercial readiness of its AirSCWO technology, which destroys per- and polyfluoroalkyl substances (PFAS) — so-called “forever chemicals” — from industrial and municipal waste streams.
“Looking ahead, we are focused on successful waste destruction of PFAS and other waste streams utilizing our AirSCWO system at current project deployments and accelerating the conversion of a growing pipeline of opportunities,” Jones said.
The company highlighted several recent milestones, including the completion of a Department of Defense-backed PFAS destruction project at Clean Earth’s Detroit facility, and a collaboration with Crystal Clean, a leading environmental services provider, to scale its Waste Destruction Services (WDS) business. The partnership is expected to support multiple new WDS operations at treatment and disposal facilities across North America.
374Water also secured an order from the City of Olathe, Kansas, to install an AirSCWO 6 system for sustainable wastewater treatment and began a state-funded project in North Carolina to destroy aqueous film-forming foam (AFFF).
To support expansion, 374Water raised about $7 million through its at-the-market facility, extending its cash runway into the second quarter of 2026.
“Our goal is to establish recurring revenue streams through our WDS business and expand our footprint across key market verticals,” Jones added.
The company reaffirmed its 2025 full-year revenue projection of about $4 million and said it remains focused on advancing SCWO as a scalable, sustainable solution for PFAS and other complex waste challenges.