News

September 15th, 2021

374Water Announces Formation of Advisory Board to Provide Strategic Input to Advance the Company Mission and AirSCWO Technology

DURHAM, NC / ACCESSWIRE / September 15, 2021 /374Water Inc.,(OTCQB:SCWO), a social impact, cleantech company located in Durham, North Carolina is pleased to announce the members of its industry Advisory Board who are experts in the fields of water, waste, energy, climate, and defense. 374Water is shifting the waste and wastewater industry from end-of-pipe treatment to resource recovery by commercializing a novel approach to supercritical water oxidation that transforms waste into recoverable resources. The following experts have joined 374Water's Advisory Board to provide industry advice and strategic guidance:

Tatjana Vujic is a nationally recognized expert on greenhouse gas abatement and related environmental, energy and agricultural policy. Within that realm, Tatjana's special areas of expertise include renewable natural gas development, methane destruction, carbon offset and renewable energy generation, natural climate solutions, agricultural waste management, and climate resilience. Tatjana founded the Duke Carbon Offsets Initiative (DCOI) in 2009 and spearheaded the launch of North Carolina's first swine waste-to-energy system to generate renewable energy certificates and carbon offsets, which then led to an analysis of options for generating electricity from swine waste that has served as a roadmap for swine biogas project development in North Carolina. Tatjana also co-authored the June 2020 report Rural Investment: Building a Natural Climate Solutions Policy Agenda that Works for Rural America and the Climate. Tatjana chairs the Coalition for Renewable Natural Gas' Education and Research Advisory Board and is on the Board of Advisors of SustainRNG, a dairy-focused biogas development company. Tatjana received her J.D. with honors from the George Washington University Law School, and double majored in Geology & Geophysics and Studies in the Environment at Yale University.

Steve Brock (CAPT USN RET) served in a variety of capacities within the U.S. Department of Defense and the White House. He was Deputy Director for Intelligence and Chair of the Functional Capabilities Board at the Joint Staff, Chairman of the Joint Chiefs of Staff. He also co-chaired an Interagency Policy Committee at the White House Council on Environmental Quality and was Director for Asia Security Affairs for the National Security Council. Prior to working in the White House, Captain Brock served in several senior capacities in the U.S. military, including Assistant Chief of Staff (Information Dominance) for the NIMITZ Strike Group, Officer in Charge of DOD Field Operating Base Europe - Berlin, and Senior Analyst for the United States Seventh Fleet. He also served as Advisor to the US Ambassador to the United Nations. He also currently serves as a Senior Advisor with the Council on Strategic Risks and the Center for Climate and Security, and Chief of Staff to the Chair and Secretary General of the International Military Council on Climate and Security. He is a principal at Provenance Co., Regeneration Management Partners, and an Adjunct at RAND. He holds masters' degrees from Georgetown University and National Defense Universityand a bachelor's degree in Marine Engineering from the United States Naval Academy.

Damian Georgino counsels and advises U.S. and international corporations, including Fortune 50 companies, financial institutions, private equity funds, and other investors in complex transactions involving water and wastewater, environmental, industrial/manufacturing, energy, infrastructure, and natural resource projects. Damian has extensive experience in buy-and-build and hyper-growth strategies, structures and operations primarily focused on the water, wastewater, energy, technology, and environmental industries. Damian previously served as managing partner and senior advisor to several private equity firms, where he focused on water and wastewater investments, alternative energy and related infrastructure investments. Damian also has served as a corporate development executive and Chief Legal Officer of several high-profile/high-growth public companies.

Tali Harif brings over 20 years of experience in the global water space, with particular focus on new technology development and market adoption. She has held senior technical and commercial management roles in companies ranging from start-ups, technology integrators, consultancies, and FTSE100 utilities, giving her a very broad perspective on diverse water related sectors and the challenges they face. Her expertise includes go-to-market and growth strategy, technology commercialization, innovation management, financial planning, (international) business development, complex technical sales, P&L management, strategic alliances, leadership, and governance.

Howard Teicher was a US Government national security official from 1977 - 1987. Howard Teicher advises clients on how to promote innovative solutions to government agencies and international organizations. A summa cum laude, phi beta kappa graduate of Boston University (BA) and the Johns Hopkins School of Advanced International Studies (MA), Howard is a media commentator on foreign policy and national security affairs as well as the co-Author of Twin Pillars to Desert Storm: America's Flawed Vision in the Middle East from Nixon to Bush.

About 374Water

374Water Inc.,(OTCQB:SCWO), offers innovative technology to process and eliminate organic waste including "forever" chemicals from natural and developed environments. Our mission is to preserve a clean and healthy environment that sustains life. We apply cutting-edge science and engineering prowess to recover resources from the wastes our society generates to keep our drinking water clean. We help businesses and local governments deploy solutions that help achieve the U.N. Sustainable Development Goals (SDGs).

September 5th, 2021

Merrell Bros. launches new division building cleantech units. Company adding new buildings, workers to fabricate units that turn sludge into clean water

Carson Gerber Kokomo Tribune Sep 5, 2021

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Kokomo-based Merrell Bros. is creating a new division of its company and adding more workers to produce and install new cleantech units that were developed through a grant from the Bill and Melinda Gates Foundation.

Dustin Smith, the company’s chief business development officer, said Merrell Bros. approached the cleantech company 374Water a couple years ago after learning their Nix 1 unit could remove “forever” chemicals and transform sludge into clean water.

The unit was constructed at Duke University after it won a grant from the Gates’ foundation as part of the “Reinvent the Toilet Challenge.” The development of the Nix 1 eventually led to the formation of 374Water.

Now, Merrell Bros. has contracted with the company to build, fabricate, ship and install the units at facilities all around the U.S., with a long-term goal of installing them in developing countries with polluted water sources.

Smith said Merrell Bros., a nationwide biosolids management company, will start building the first prototype of the unit later this year. Next spring, the company anticipates a substantial expansion at its Kokomo facilities, including constructing a 15,000-square-foot building to house its new cleantech division. The “sky’s the limit” on hiring more workers for the new division.

“It just depends on how fast these units start to deploy and take over the market,” Smith said. “We will scale up to meet that demand, but it’s tough to project that right now.”

The units are large — measuring 40 feet long, 8 feet wide and 8 feet tall — and carry out a new process called supercritical water oxidation. The process can break down and remove “forever” chemicals, such as PFOS and PFAS, and it turns 99.9% of all waste into clean water and carbon dioxide in seconds, according to 374Water. These chemicals are a problem in certain parts of the country and are used in things like nonstick products, stain and water repellents, paint and cleaning products.

The new technology has the potential to fundamentally change how water and wastewater treatment plants operate, Smith said.

Once production is going full steam, the company should be able to construct one of the units in less than three months, Smith said, which can then be installed in all kinds of waste-treatment facilities, with the first unit will likely going to a municipal treatment plant.

Merrell Bros. has also purchased a substantial amount of stock in 374Water, making it the largest single investor in the company.

Smith said the immediate plan is to commercialize the units in the U.S. Once mass production hits its stride and costs come down on the units, Merrell Bros. hopes to also make them for developing countries.

“We’ve been leaning into this pretty heavily, and we think it has the ability to change the industry and then hopefully change lives in the developing world,” he said. “It definitely has potential to be something more than just Merrell Bros.”

September 2nd, 2021

374Water Enters Into a Strategic Engineering Services Agreement With Baran Group

DURHAM, NC / ACCESSWIRE / September 2, 2021 / 374Water Inc. (SCWO(OTCQB:SCWO), a social impact, cleantech company located in Durham, North Carolina, and Baran Group LTD. (BRAN.TA), a global provider of engineering, technology, telecommunication, and construction solutions headquartered near Tel Aviv, Israel, have entered into a Service Agreement whereby Baran Group will support 374Water with the engineering design of its AirSCWO Nix6 system.

AirSCWO is an innovative treatment technology that uses supercritical water oxidation to treat a variety of organic wastes, in particular wet wastes in concentrated slurries such as wastewater sludge and biosolids; fats, oils, and greases (FOG); food, animal, agricultural, pharmaceutical, and chemical wastes; and pervasive, persistent chemicals like PFAS and microplastics.

"Baran's solutioning and engineering capabilities in energy, water, and industrial processes makes them the ideal strategic partner to support the engineering design of our AirSCWO Nix6 system," states Kobe Nagar, Cofounder and CEO of 374Water. "Our engineering team is thrilled to collaborate with the creative, innovative, and proven team at Baran"

"Baran has vast experience in design, execution, and operation of various engineering projects. Baran is well acquainted in the market of energy and water treatment as well, so we are excited to work with 374Water's team of engineers on the final design of their AirSCWO Nix6 system" said Ronan Chitterer, Engineering & Technologies Manager.

AirSCWO Nix6 systems are prefabricated, compact, and modular so they can be cost-effectively deployed and operated within the footprint of an existing plant to treat waste at its source. The first units are expected to deploy in the first half of 2022.

About 374Water

374Water Inc. (SCWO) is a publicly traded company offering innovative technology to process and eliminate organic waste, including "forever" chemicals, from natural and developed environments. Our mission is to preserve a clean and healthy environment that sustains life. We apply cutting-edge science and engineering prowess to recover resources from the wastes our society generates to keep our drinking water clean. We help businesses and local governments deploy solutions consistent with the Sustainable Development Goals (SDGs).

About Baran

Baran Group LTD. (BRAN.TA), provides engineering, technology, telecommunication, and construction solutions worldwide. Its solutions include feasibility studies, engineering and design, permitting and validation, construction and site management, procurement and construction management, project management and control, operation and maintenance, turnkey, project financing, and related services. The company serves various industries, such as manufacturing, industrial process, power and renewable energy, petroleum production, water supply, sewerage and hazardous waste treatment, general building, construction, transportation, telecommunications, and others. Baran Group Ltd. was founded in 1979 and is headquartered in Beit Dagan, Israel.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements regarding the initiatives and projects described above. Forward-looking statements also include any other statements that do not refer to historical facts. By their nature, forward-looking statements are based on assumptions and subject to inherent risks and uncertainties. There is a risk that the initiatives and projects described above may be delayed, cancelled, suspended, or terminated. This could cause future results to differ materially from the forward-looking statements made in this news release. Except as may be required by law, 374Water undertakes no obligation to publicly update or revise any forward-looking statements. Forward‑looking statements are provided herein for the purpose of giving information about the initiatives and projects referred to above and their expected impact. Readers are cautioned that such information may not be appropriate for other purposes.

CONTACT: Mr. Richard Davis, rd@374Water.com and/ or ir@374Water.com, (786) 412-7015

Related Links:
https://www.374water.com

SOURCE: 374Water, Inc.

July 27th, 2021

Cleantech Company 374Water Touts PFAS-Eliminating Technology That ‘Makes Toxic Sludge Turn To Water’

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So-called toxic “forever chemicals” are a concern across the United States. A recent analysis by the nonprofit Environmental Working Group found nearly 30,000 sites where man-made perfluoroalkyl and polyfluoroalkyl substances (PFAS) are likely used or discharged into water.

A North Carolina company called 374Water also recently announced an agreement with an Indiana biosolids company called Merrell Bros. to help tackle the problem. The pact means Merrell will be making and servicing 374Water’s AirSCWO NIX systems and installations throughout the United States and Canada.

SCWO stands for supercritical water oxidation, which 374Water says may fundamentally change the way waste management is deployed. “Simply said, this technology just makes toxic sludge turn to water!”

The AirSCWO NIX systems are advanced oxidation units for recovering valuable resources from waste. The units are compact and prefabricated so they can be installed at existing treatment plants.

At a wastewater treatment plant, the system treats sludges and biosolids, reducing volume by 97% and rendering the material into recoverable and reusable clean water, inert minerals, heat and electricity, according to the company.

“Our vision is to transform wastewater treatment plants to water resource recovery facilities,” says Rick Davis, director and officer at 374Water.

The first of two commercial units are being fabricated at a Merrell Bros. facility in Kokomo, Indiana.

Of course, this doesn’t mean PFAS contamination is solved. But 374Water says its technology can go a long way toward cleaning up the environment when it comes to discharges.

“SCWO uses the unique properties of water above its critical point (374 °C and 221 bar),” the company explains.

“In these conditions, in the presence of oxygen, organics are rapidly converted to clean water, inert gases, recoverable mineral salts and reusable heat with >99% reduction in solids volume. The process has proven effective at eliminating emerging contaminants such as PFAS and 1,4-Dioxane, drugs, microplastics and pathogens.”

Davis notes that a unit with 1 metric ton capacity (the equivalent of sanitary waste from 1,000 people) has been operating on the Duke University campus in Durham, North Carolina, since 2015.

“It has operated over 1,000 hours, treating dozens of different waste streams,” ranging from wastewater sludges, biosolids and food waste to firefighting foam that contains PFAS.

The supercritical water oxidation process developed at Duke and now being commercialized by 374Water was unofficially coined by the U.S. Environmental Protection Agency as the "3rd generation of SCWO" during AFFF and PFAS elimination testing, Davis says. 

AFFF stands for aqueous film forming foam, a type of firefighting foam that contains PFAS. “The process is unique,” he adds. “It incorporates several important patented improvements that eliminate the historical issues off corrosion, charing, and clogging experience by previous generations of supercritical water oxidation processes.”

The 374Water project was launched in 2013 and initially funded by the Bill and Melinda Gates Foundation. In April, a merger with PowerVerde Inc. was announced.

The units in production in Kokomo are six times larger than the one at Duke University, Davis says.

“We are in discussion with two U.S. municipal wastewater treatment utility authorities as well as several waste service firms for deployment at one of their sites. 

“Once these units have been successfully deployed, we will commence mass producing of the 6-ton units while designing the next scaled up unit, which will be 30 tons per day.”

July 20th, 2021

374Water Inc., enters into an agreement with Stantec to provide owner's representative services for the new AirSCWO Nix6 Systems

DURHAM, N.C., July 20, 2021 /PRNewswire/ -- OTCQB ("PWVI"), a social impact, cleantech company located in Durham, North Carolina, and Stantec, TSX and the NYSE, a global design firm and recognized leader in integrated organics management and resource recovery, have entered into an agreement whereby Stantec will provide services to evaluate and support 374Water's design of its AirSCWO Nix6 systems.

Under the terms of the agreement, Stantec will act as owner's representative by participating in design process meetings, interdisciplinary evaluations, and operations review support.

CEO of 374Water, Kobe Nagar, commented, "We are pleased that Stantec has agreed to act as our owner's representative"

SCWO is an advanced oxidation method that handles a variety of organic wastes, in particular wet wastes in concentrated slurries such as wastewater sludge, biosolids, agricultural byprducts, pharmaceutical and chemical wastes. SCWO uses the unique properties of water above its critical point (374 °C and 221 bar). Combining oxygen with supercritical heat and high pressure, organics are rapidly converted to clean water, inert gases, recoverable mineral salts, and reusable heat with >99% reduction in solids volume. The process has proven effective at eliminating emerging contaminants such as PFAS, 1,4-Dioxane, drugs, microplastics, and other pathogens. 374Water is commercializing its AirSCWO Nix6 systems as decentralized, prefabricated, compact, and modular units.

"We took notice of 374Water and their supercritical water oxidation (SCWO) process early on, identifying this technology's potential. Stantec has long been at the forefront in sustainable resource recovery. We look forward to providing design services and third-party validation to 374Water as owner's representative," said Stantec's VP, Michael McWhirter.

Co-founder and CEO of 374Water, Kobe Nagar, commented, "We are pleased that Stantec has agreed to act as our owner's representative in the design and validation of AirSCWO Nix6 units. As a trusted global service provider, Stantec leads the industry with their innovative approach, balancing prudent technological innovation with environmental, regulatory, and economic needs. They're a global company serving clients both large and small, and we're pleased to have them provide oversight and validation to our process."

This technology – employing circular economy principals – recently closed its first round of equity funding. The first units are expected to be deployed in the first half of 2022.

About 374Water

374Water Inc., (PWVI) is a publicly traded company offering innovative technology to process and eliminate organic waste including "forever" chemicals from natural and developed environments. Our mission is to preserve a clean and healthy environment that sustains life. We apply cutting-edge science and engineering prowess to recover resources from the wastes our society generates to keep our drinking water clean! We help businesses and local governments deploy solutions consistent with the Sustainable Development Goals (SDGs).

About Stantec

We Design With Community In Mind.

Communities are fundamental. Whether around the corner or across the globe, they provide a foundation, a sense of place and of belonging. That's why at Stantec, we always design with community in mind.

We care about the communities we serve—because they're our communities too. This allows us to assess what's needed and connect our expertise, to appreciate nuances and envision what's never been considered, to bring together diverse perspectives so we can collaborate toward a shared success.

Stantec are designers, engineers, scientists, and project managers, innovating together at the intersection of community, creativity, and client relationships. Balancing these priorities results in projects that advance the quality of life in communities across the globe.

Stantec trades on the TSX and the NYSE under the symbol ("STN").

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements regarding the initiatives and projects described above. Forward-looking statements also include any other statements that do not refer to historical facts. By their nature, forward-looking statements are based on assumptions and subject to inherent risks and uncertainties. There is a risk that the initiatives and projects described above may be delayed, cancelled, suspended, or terminated. This could cause future results to differ materially from the forward-looking statements made in this news release. Except as may be required by law, 374Water undertakes no obligation to publicly update or revise any forward-looking statements. Forward–looking statements are provided herein for the purpose of giving information about the initiatives and projects referred to above and their expected impact. Readers are cautioned that such information may not be appropriate for other purposes.

July 13th, 2021

374Water enters into Manufacturing and Service Agreement with Merrell Bros

DURHAM, N.C., July 13, 2021 /PRNewswire/ — 374Water Inc., OTCQB ("PWVI"), a social impact, cleantech company located in Durham, North Carolina ("374Water"), and Merrell Bros, Fabrication, Inc. (a division of Merrell Bros. Inc. "MBF"), an Indiana-based biosolids company, have entered into a definitive manufacturing and service agreement resulting from the previously announced memorandum of understanding signed in April 2021. 

"We are excited to have finalized this important agreement," said Kobe Nagar, 374Water's CEO

Under the terms of the agreement, MBF will manufacture as well as service 374Water's AirSCWO NIX systems and installations throughout the US and Canada.

"We are excited to have finalized this important agreement. Since executing our MOU last April, the Merrell team has been working with our team providing value added services including customer site visits, project management and AirSCWO fabrication plans. Merrell's tremendous reputation in the biosolids management industry and North American footprint is clearly accelerating the adoption of 374Water's AirSCWO NIX systems" said Kobe Nagar, 374Water's CEO.

Merrell Bros co-founder and CFO, Terry Merrell added "We have always prided ourselves on applying the finest equipment and technology to service our broad base of clients - even if we have to build it! We saw early on that supercritical water oxidation (SCWO) may fundamentally change the way waste management is deployed. Simply said, this technology just makes toxic sludge turn to water! Our commitment, investment and execution are part of our corporate culture to make the world itself a better place".

MBF is fabricating the first commercial units at its facility in Kokomo, IN. The AirSCWO systems will be compact and modular so they can be cost-effectively deployed and operated within the footprint of an existing plant or possibly onsite to treat waste at its source.

About 374Water

374Water Inc. (PWVI) is a publicly-traded company offering innovative technology to process and eliminate organic waste including "forever" chemicals from natural and developed environments. Our mission is to preserve a clean and healthy environment that sustains life. We apply cutting-edge science and engineering prowess to recover resources from the wastes our society generates to keep our drinking water clean! We help businesses and local governments deploy solutions consistent with the Sustainable Development Goals (SDGs).

About Merrell Bros

Merrell Bros., Inc. is a nationwide biosolids management company helping municipalities, industries, and agricultural operations successfully manage and recycle biosolids since 1982. Merrell Bros., Inc. is dedicated to environmentally sound, agriculturally oriented, and State and Federally approved methods of biosolids management. At Merrell Bros., Inc. we make every effort to build a reputation based on honesty and professionalism

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements regarding the initiatives and projects described above. Forward-looking statements also include any other statements that do not refer to historical facts. By their nature, forward-looking statements are based on assumptions and subject to inherent risks and uncertainties. There is a risk that the initiatives and projects described above may be delayed, cancelled, suspended or terminated. This could cause future results to differ materially from the forward-looking statements made in this news release. Except as may be required by law, 374Water undertakes no obligation to publicly update or revise any forward-looking statements. Forward looking statements are provided herein for the purpose of giving information about the initiatives and projects referred to above and their expected impact. Readers are cautioned that such information may not be appropriate for other purposes.

June 10th, 2021

374Water Welcomes Environmental and Water Industry Veteran, Doug Hatler to Accelerate the Commercialization of its AirSCWO Systems

DURHAM, N.C., June 10, 2021 /PRNewswire/ -- 374Water Inc., OTCQB ("PWVI") a social impact, cleantech company is excited to announce the hiring of a key executive, Doug Hatler from the environment and water industry. Doug has joined the company as Chief Revenue Officer to further accelerate the commercialization and deployment of 374Water's innovative AirSCWO Nix systems for the treatment of biosolids, wastewater sludges, industrial wastes, food waste, and landfill leachates. 

With over 20 years of business experience in areas related to the environment, water, engineering, and risk management, Doug joins 374Water from Environmental Business Ventures, where he was instrumental in commercializing water technologies while achieving rapid and sustainable revenue growth.

"I am excited to welcome Doug Hatler as a part of our senior management team at a critical time as we commercialize the AirSCWO technology.  We are aggressively building the first commercial systems to be deployed in early 2022" comments CEO Kobe Nagar. 

 

AirSCWO is a revolutionary thermal-physical process that converts waste to water, energy, and minerals while eliminating "Forever Chemicals" (PFAS) and other emerging contaminants.  A true paradigm shift in how the world treats waste.

"I'm extremely happy to join 374Water.  I have been watching supercritical water oxidation for some time.  This next-generation AirSCWO technology developed by the company founders at Duke University clearly has global potential. 374Water's AirSCWO technology will change the way waste is managed through resource recovery and elimination.  I look forward to participating in that change. ``

374Water is commercializing its decentralized AirSCWO Nix systems as prefabricated, compact, and modular units.

Cautionary Language

This press release contains "forward-looking statements," as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning,

About 374Water

374Water Inc., PWVI is a publicly-traded company offering innovative technology to process and eliminate "forever" chemicals from natural and developed environments. Our mission is to preserve a clean and healthy environment that sustains life. We apply cutting-edge science and engineering prowess to recover resources from the wastes our society generates to keep our drinking water clean! We help businesses and local governments to obtain their sustainable Development Goals (SDGs)

April 27th, 2021

374Water and Merrell Bros Enter into a Binding Memorandum of Understanding

DURHAM, N.C., April 27, 2021 /PRNewswire/ -- 374Water Inc. OTCQB ("PWVI"), a North Carolina company, and Merrell Bros (MB Holding Inc. or "MBH"), an Indiana Corporation, have entered into a strategic relationship to collaborate on the commercial manufacturing and service of AirSCWO Nix systems.  MBH will manufacture and service units sold in the United States and Canada.  The partnership will focus on the deployment of the first commercial units to municipal and industrial customers.

AirSCWO is an advanced oxidation method that treats a variety of organic wastes, in particular, wet wastes in concentrated slurries such as wastewater sludge, biosolids, landfill leachates, and industrial wastes.  The process has proven effective at eliminating emerging contaminants and "forever chemicals" such as PFAS and 1,4-Dioxane, pharmaceuticals, microplastics, and pathogens.

Kobe Nagar, CEO, and Co-founder of 374Water, commented "Merrell Bros is an ideal strategic partner for 374Water.  Their North American footprint and impressive client base, servicing entities in their areas of expertise - biosolids, municipal drinking water, wastewater sludge, and landfill leachate - Support us in changing the waste paradigm from treatment to resource recovery while eliminating emerging contaminates of concern like PFAS and 1,4-dioxane.  The Merrell's state-of-the-art facilities, encompassing hundreds of thousands of square feet equipped with modern machine shop appointments and fabrication infrastructure is capable of producing our AirSCWO systems to a quality control level unmatched by most companies.  Furthermore, Merrell Bros will inventory parts and offer after-sale support with their office's coast to coast."

Merrell Bros co-founder and CFO, Terry Merrell added "We have always prided ourselves on building and/ or modifying the finest equipment to service our broad base of clients. We saw early on that supercritical water oxidation technology (SCWO) may change the world on how waste management is deployed.  Simply said, "Just make sludge go away!" Our commitment, investment and execution are part of our corporate culture to make the world itself a better place".

MBH will fabricate the first commercial units at its facility in Kokomo, IN.  The systems will be compact and modular so they can be cost-effectively deployed and operated within the footprint of an existing plant.

Cautionary Language
This press release contains "forward-looking statements," as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning,

About 374Water Inc.
374Water Inc., PWVI is a publicly-traded social impact, cleantech company offering an innovative technology to process and eliminate "forever" chemicals from the natural and developed environments.  Our mission is to preserve a clean and healthy environment that sustains life.  We apply cutting-edge science and engineering prowess to recover resources from the wastes our society generates to keep our drinking water clean!  We help businesses and local governments obtain their Sustainable Development Goals (SDG).

About Merrell Bros
Merrell Bros., Inc. is a nationwide biosolids management company helping municipalities, industries, and agricultural operations successfully manage and recycle biosolids since 1982. Merrell Bros., Inc. is dedicated to environmentally sound, agriculturally oriented, and State and Federally approved methods of biosolids management. At Merrell Bros., Inc. we make every effort to build a reputation based on honesty and professionalism

April 20th, 2021

PowerVerde Inc. Completes its Merger with 374Water, Inc. to Accelerate Delivery of CleanTech to Eliminate PFAS and Recover Resources from Waste and Wastewater

MIAMI, April 20, 2021 /PRNewswire/ -- PowerVerde Inc. OTCQB ("PWVI"), a Florida-based energy systems developer, and 374Water Inc. ("374Water"), a North Carolina-based cleantech company, today announced the completion of the merger contemplated by their binding LOI executed Sept 20, 2020. The merger will accelerate the delivery of a waste and water resource recovery system that will enable municipal, industrial waste, and wastewater management organizations to address the growing risk of 'forever chemicals' PFAS contamination, while also recovering precious natural resources.

Subject to the terms and conditions set forth in the merger agreement, PWVI is issuing new shares of PWVI stock to 374Water shareholders and closing its $6.4 million private placement of Series D convertible preferred stock such that 374Water shareholders will own approximately 49.1% of the combined company, PWVI shareholders will own approximately 34.4% and the preferred stock investors will own approximately 16.5%. The merged company will be named 374Water Inc. and will likely trade under the symbol SCWO, an acronym for supercritical water oxidation.

"The merger of 374Water and PowerVerde will advance the global paradigm shift from water and waste treatment to resource recovery. 374Water's patent-pending Supercritical Water Oxidation system, the "AirSCWO", is a superior, sustainable, and cost-effective technology applicable to municipal wastewater and industrial waste management facilities and we believe it is the best technology to address the growing forever chemical crisis. Our system will efficiently treat waste at the source, convert waste to recoverable and reusable resources, and eliminate PFAS and other emerging contaminants," said Kobe Nagar, CEO of 374Water, the merged company. "The merger with PowerVerde allows us to vertically integrate their heat recovery technology into our system, allowing us to maximize our environmental and social impact outcomes around the world".

The AirSCWO uses an advanced oxidation method that purifies a variety of organic wastes, in particular, wet wastes in concentrated slurries such as wastewater sludge, biosolids, and agricultural, pharmaceutical, food, and chemical wastes.

Cautionary Language
This press release contains "forward-looking statements," as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning,

About 374Water, Inc
374Water Inc., PWVI is a publicly-traded company offering an innovative technology to process and eliminate "forever" chemicals from the natural and developed environments. Our mission is to preserve a clean and healthy environment that sustains life. We apply cutting-edge science and engineering prowess to recover resources from the wastes our society generates to keep our drinking water clean! We help businesses and local governments to obtain their sustainable Development Goals (SDGs)

Related Links:
https://www.374water.com

September 29th, 2020

PowerVerde Inc. and 374Water Inc. Sign a Binding Letter of Intent to Merge

PowerVerde Inc. and 374Water Inc. Sign a Binding Letter of Intent to Merge

 

MIAMI, FL: PowerVerde Inc. OTCQB (“PWVI”), a Florida-based energy systems developer, and 374Water Inc. (“374water”), a North Carolina-based social impact, cleantech company, today announced that they have executed a binding Letter of Intent (“LOI”) to merge. The combined company will offer a water and waste resource recovery system using Supercritical Water Oxidation (“SCWO”) and a proprietary heat recovery and expander system based on PowerVerde’s wet steam cycle.

 

Subject to the terms and conditions set forth in the LOI, PWVI will issue new shares of PWVI stock to 374Water shareholders such that 374Water shareholders will own approximately 60% of the combined company, and PWVI shareholders will own approximately 40%. The merger is subject to adjustments and the achievement of certain milestones and satisfaction of conditions by both parties prior to closing, including the raising of additional capital.

 

“The merger of our two companies will be a transformative event for PowerVerde shareholders, allowing us to expand beyond our heat-to-energy systems into a complete clean tech solution with worldwide sales potential”, said Daniel Bogar, President of PowerVerde.

 

374water was spun out of Duke University where the company founders Kobe Nagar and Marc Deshusses have developed a novel AirSCWO system (patent pending) to overcome the limitations of other attempts to commercialize supercritical water oxidation at an industrial scale. The pilot system on the Duke campus has been extensively tested over the last six years with funding and support of the Bill and Melinda Gates Foundation and the Department of Defense.

 

“The merger of 374water and PowerVerde will advance the global paradigm shift from waste treatment to resource recovery. SCWO is a superior, sustainable and cost-effective technology applicable to urban and rural communities and industrial waste generators. Our system will efficiently treat waste at the source and will stop spreading pollution, “said Kobe Nagar, CEO of 374Water. “Our employees and business partners are excited to start deploying systems, using waste as the ultimate resource to produce clean water, energy and minerals”.

 

PowerVerde has been working as a strategic partner with 374water after being selected during a global search for a company capable of providing a heat recovery and expander system to convert the exothermic heat produced by 374water’s SCWO process into usable electricity.

 

“Supercritical water oxidation is an incredible solution for the billions of people in this world who are suffering from environmental pollution created by antiquated methods of treating and disposing of waste. This merger with 374Water will allow our combined company to provide a truly disruptive technology that helps sustain life,” stated Richard (Rick) Davis, CEO of PWVI.

 

Cautionary Language

 

This merger is still subject to a number of conditions and all forward-looking statements made are subject to risks and uncertainties that could cause actual results to differ materially from those projected.

About PowerVerde, Inc.

 

PowerVerde Inc., is a publicly traded energy systems developer, focusing on energy efficiency and waste heat recovery using organic Rankine cycle and unique wet steam cycle technology. Leveraging its proprietary designs, technology and strategic alliances, PowerVerde expects to commercialize distributed power systems in the under 500 kW class that perform at industry-leading levels.

 

About 374Water, Inc.

 

374Water’s mission is to support a clean and healthy environment to sustain life. 374 is reinventing the world’s current wastewater treatment systems using cutting edge science to recover resources from the waste our society generates and keep our drinking water clean. This transformative solution will help businesses and local governments make their Sustainable Development Goals (SDGs) a reality.

August 10th, 2020

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June 5th, 2018

PowerVerde Discusses the Financial Impact of the Planned Commercialization of the Supercritical Water Oxidation (SCWO) Project

MIAMI, June 5, 2018 /PRNewswire/ -- PowerVerde Inc. 0TCQB (PWVI), A Florida based energy systems developer, discusses our relationship concerning the transition of the SCWO project, previously announced as a research project, to a for-profit company. PowerVerde (PWVI) will be a commercial partner of this newly formed enterprise, selected to design, build and test an advanced energy recovery expander. This is a critical component of the SCWO bioreactor.

The SCWO system consists of two main parts; a bioreactor that decomposes human or animal waste within seconds into clean, pathogen-free potable water. This phenomenon occurs when the fecal sludge is pumped and compressed to supercritical conditions of 3500 psi and 800F. Significantly, the energy content of the sludge (think of it as a fuel source) is released during decomposition resulting in an energy rich gas that can be converted into usable electricity. 

The second part of the system consists of the energy recovery module that converts the high temperature, energy-rich gas leaving the bioreactor, to reliable electric power. There is enough "fuel" energy in the sludge to produce sufficient power offsetting the internal system loads, namely the pump and compressor. Thus, the operation of the SCWO bioreactor is at or near self-sustaining, minimizing the need for any supplemental fuel or power. Ultimately, the goal will be to actually produce net electricity.  This highlights the vital role played by the energy recovery module, at the heart of which is PowerVerde's expander technology.

There is a huge global demand for technology like this, especially in the many under-developed countries that lack basic sanitation facilities. The byproducts of these bioreactors - clean water and electricity are sorely needed in these communities. Because of the success of the SCWO project and a prototype bioreactor currently demonstrating commercial readiness, the decision was made to accelerate the commercial introduction of this technology through a for-profit company. 

This is potentially a transformative event for PowerVerde, as it partners with this company to sell its heat-to-energy systems. With two SCWO systems already scheduled for deployment next year and, providing PowerVerde delivers this advanced expander, the success of this SCWO commercial launch directly influences PowerVerde's financial success. 

Looking ahead, the possible sale of 100 expander systems could result in revenue of $40 million or more to PowerVerde. With development funds being provided to PowerVerde by the new company, along with anticipated investments from new investment groups, PowerVerde is confident it can capitalize on this lucrative opportunity.

Cautionary Language 
All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected.

About PowerVerde, Inc.
PowerVerde Inc., is an energy systems developer focusing on energy efficiency and waste heat recovery using organic Rankine cycle and unique wet steam cycle technology. Leveraging its proprietary designs, technology and strategic alliances, PowerVerde expects to commercialize distributed power systems in the under 500 kWe class that performs at industry-leading levels.

Contact Information
Richard H. Davis
http://www.PowerVerdeEnergy.com
(786) 412-7015

April 5th, 2018

Energy Systems Provider PowerVerde to Supply Technology for Supercritical Water Oxidation (SCWO) Sanitation Project

MIAMI, April 5, 2018 /PRNewswire/ -- PowerVerde Inc. OTCQB (PWVI), a Florida based energy systems developer, has been selected to provide the expander technology for a project addressing sanitation needs on a global scale.

MIAMI, April 5, 2018 /PRNewswire/ -- PowerVerde Inc. OTCQB (PWVI), a Florida based energy systems developer, has been selected to provide the expander technology for a project addressing sanitation needs on a global scale.

Researchers at Duke University have developed a supercritical water oxidation (SCWO) sanitary treatment system. This system is the world's first reduction to practice of the SCWO technology for the intended purpose of bringing sanitary toilet facilities to people worldwide. It is estimated that 900 million people do not have access to sanitary toilet infrastructure.

PowerVerde was selected to design a 60 kWe expander for its demonstrated high-pressure capability, a prerequisite for operation at supercritical conditions.

SCWO is a known thermodynamic process that decomposes (oxidizes) solid waste to pathogen-free byproducts; clean water, carbon dioxide and nitrogen. The process occurs when the waste sludge is pressurized and heated above the supercritical state (218 ATM., 374 C). An exothermic chemical reaction uses the heating value of the sludge (15 MJ/kg) to heat the surrounding supercritical gas. For a village of 6000 people, it is estimated that 57kWe is needed as input for the sludge pump and air compressor components. Recapturing a major portion of this energy using PowerVerde's 60 kWe expander improves sustainability and the value proposition of the project. This is particularly important in non-grid connected locations typically found in under-developed countries.

About PowerVerde, Inc.
PowerVerde Inc., is an energy systems developer focusing on energy efficiency and waste heat recovery using organic Rankine cycle and unique wet steam cycle technology. Leveraging its proprietary designs, technology and strategic alliances, PowerVerde expects to commercialize distributed power systems in the under 500 kWeclass that performs at industry-leading levels. For more information visit:  www.powerverdeenergy.com

Contact Information
Richard H. Davis
PowerVerde, Inc. 
http://www.PowerVerdeEnergy.com 
(786) 412-7015

July 18th, 2016

PowerVerde, Inc. Announces the Appointment of Randall Hinson as Director of Sales and Marketing

MIAMI, FL--(Marketwired - July 18, 2016) - PowerVerde, Inc. (PWVI) announces the appointment of Randall C Hinson as Director of Sales and Marketing. Mr. Hinson brings a wealth of knowledge in industrial manufacturing, sales and distribution. A long time industry veteran, Mr. Hinson founded Bear Pump & Equipment, Ltd, in 1981. As, founder and CEO of Bear Pump, Mr. Hinson was responsible for the manufacture and sale of positive displacement reciprocating pumps and related equipment to the oil and gas industry, specializing in high pressure applications up to 40,000 PSI. The Bear Pump product line was recognized for its quality and dependability and the company known for being a leader in customer service.

In 2008 National Oilwell Varco, a world leader in manufacturing and supply of oilfield drilling and production equipment acquired Bear. Under the continued guidance of Mr. Hinson, Bear Pump sales more than doubled over the next seven years. Mr. Hinson is a graduate of Baylor University with a BBA in marketing. "We're fortunate at PowerVerde to have obtained the services of Randy Hinson", noted CEO Rick Davis. "Randy fully understands the operations of an early stage manufacturer of technology-driven industrial equipment. He has decades of experience in developing technology, identifying markets and creating distribution channels both foreign and domestic."

Mr. Hinson commented, "I'm pleased to be joining PowerVerde at this important time in the company's history as it begins to transition from an R&D company into commercial production. I'm excited about the prospects of the company's non-polluting, advanced energy products and look forward to introducing them to customers around the world."

About PowerVerde Inc.

PowerVerde, Inc., is an energy systems developer focusing on energy efficiency and waste heat recovery using Organic Rankine Cycle and unique steam-driven technology. Leveraging its proprietary designs, technology and strategic alliances, PowerVerde aims to sell distributed power systems in the under 500kW-class that perform at industry leading levels. Reliable, cost effective and emissions-free power is generated for use onsite or micro grid applications. PowerVerde's technology may also be used with geothermal, biomass and thermal solar applications.

PowerVerde, Inc.
Richard Davis
CEO
darbyric@gmail.com