News

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

For our other filings please see our Investors page

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