374Water Secures 5-Year Waste Destruction Services Agreement with City of Orlando

Key Highlights

• 374Water Inc. (NASDAQ: SCWO) wins a 5-year license agreement with the City of Orlando to provide Waste Destruction Services (WDS) leveraging its AirSCWO™ technology at the Iron Bridge Regional Water Reclamation Facility.
• The agreement includes options for two additional five-year extensions, potentially establishing a long-term, recurring revenue stream.
• AirSCWO™ system achieved over 99.95% destruction of PFAS in biosolids and Aqueous Film-Forming Foam (AFFF) during demonstration, validating its commercial effectiveness.
• The Orlando license is the first scalable municipal platform under 374Water’s Waste Destruction Services strategy.
• 374Water is concurrently advancing its next-generation AirSCWO system for the Orange County Sanitation District (OC San) in California, but delivery and revenue recognition for that project have been delayed to 2026.
• The company has strengthened its executive leadership and Board of Directors to accelerate commercialization and operational excellence.

Detailed Analysis

Orlando License Agreement and Expansion

374Water, a leading cleantech company specializing in supercritical water oxidation (SCWO) for the destruction of organic waste, announced a significant milestone with the receipt of regulatory approval to launch a licensed Waste Destruction Services hub in Orlando, Florida.

The license, granted by the City of Orlando, follows a successful large-scale demonstration of 374Water’s AirSCWO™ system at the Iron Bridge Regional Water Reclamation Facility. The system proved highly effective, achieving more than 99.95% elimination of PFAS contaminants—substances that have attracted increasing regulatory scrutiny—in biosolids and a variety of waste streams, including the challenging Aqueous Film-Forming Foam (AFFF).

The agreement has an initial five-year term with two five-year extension options, providing the potential for a 15-year engagement. This initiative is designed not only to meet the city’s waste management needs but also to create consistent and recurring revenues for 374Water. The platform will serve industrial, state, local government, and municipal customers seeking reliable solutions for PFAS and other non-hazardous organic waste destruction.

The on-site deployment of AirSCWO™ allows 374Water to accelerate its commercial launch, minimizing lead time between regulatory approval and revenue generation. The company intends to expand its holding tank capacity, receive significant waste volumes, scale supporting assets and logistics, and optimize throughput and operating economics.

Investor & Shareholder Considerations

• Potential Share Price Impact: The Orlando license is a major step in commercializing 374Water’s technology and introducing a scalable recurring revenue model. The company is transitioning from demonstration to a service-based business, which could positively affect future cash flows and valuation.
• Recurring Revenue: The multi-year nature of the agreement provides revenue visibility and stability, both highly valued by investors.
• PFAS Market Opportunity: PFAS contamination is a growing environmental and regulatory concern; demonstrating 99.95%+ destruction positions 374Water as a leader in this expanding market.

Update on Orange County Sanitation District (OC San) Project

The company is continuing work on a next-generation AirSCWO system for OC San in California. In 2025, engineering and design enhancements were incorporated to increase throughput, reliability, and long-term performance. These changes delayed delivery and revenue recognition for the project to 2026 (previously anticipated in 2025), which is a critical update for investors as it may affect near-term revenue projections.

The enhanced leadership team is now focused on meeting key deployment milestones in 2026, including delivering the OC San system and expanding the Waste Destruction Services business.

Strategic Positioning and Corporate Developments

• In 2025, 374Water formally launched its WDS business to address accelerating demand for PFAS destruction, establishing a recurring revenue model and targeting bottlenecks and litigation risks in waste management.
• The company recently strengthened its executive leadership and Board of Directors to improve commercialization, capital discipline, and operational execution.

About 374Water

374Water Inc. (NASDAQ: SCWO) is an industrial technology provider focused on waste treatment and management. Its AirSCWO™ technology efficiently destroys and mineralizes a broad spectrum of organic wastes, producing safe, dischargeable water, mineral effluent, safe vent gas, and recoverable heat energy. The company positions itself as a leader in innovative waste treatment solutions, aiming for a greener future and the eradication of harmful pollutants.

Conclusion

The City of Orlando license agreement represents a pivotal commercial inflection point for 374Water, marking its transition from technology demonstration to recurring revenue services. The company’s ability to secure multi-year municipal contracts, combined with the demonstrated destruction of PFAS and progress on the OC San project, are material developments that are likely to influence investor sentiment and potentially the company’s share price.

Contact Information

Investor Relations: Belton Copp, Vice President
Direct: 401-419-1545
Email: [email protected]
Website: www.374water.com

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Forward-looking statements are subject to risks and uncertainties beyond 374Water’s control. Investors should review the company’s SEC filings and consult with financial advisors before making any investment decisions.

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