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DURHAM, N.C. - 374Water Inc. (NASDAQ: SCWO), a $52.36 million market cap company specializing in waste destruction technology, has announced the appointment of Raj Melkote as its new Chief Technology Officer (CTO). According to InvestingPro analysis, the company currently maintains a strong liquidity position with a current ratio of 3.81, though it faces operational challenges with negative gross margins. Melkote, with over three decades of experience in Research & Development and Engineering, is set to lead the company’s efforts in scaling and refining its AirSCWO technology, which is critical for treating a wide array of waste across municipal, federal, and industrial sectors.
Prior to his new role at 374Water, Melkote served as CTO at BayoTech Hydrogen, where he was instrumental in advancing hydrogen generation technologies. His career also includes significant contributions at Edwards Vacuum, where he integrated machine learning for predictive diagnostics, and at Brooks Automation, Honeywell, United Technologies, and General Electric.
Melkote’s educational background includes a PhD in chemical engineering from the University of Minnesota and a Bachelor of Science degree from Purdue University. His expertise spans strategy, product commercialization, and new product development, with a focus on driving efficiency and speed to market. His appointment comes at a crucial time as InvestingPro data indicates the company is rapidly burning through cash, with analysts anticipating a sales decline in the current year.
Chris Gannon, CEO of 374Water, expressed confidence in Melkote’s ability to enhance the company’s engineering operations and to expedite the development of larger capacity AirSCWO Systems. These systems aim to meet the diverse waste destruction needs of various markets while addressing global wastewater treatment and waste management issues.
Melkote himself conveyed his enthusiasm for joining 374Water during a crucial phase of its growth, recognizing the company’s leading position in waste destruction technology solutions. He looks forward to collaborating with the team to propel the company’s global technological advancements.
374Water’s AirSCWO technology is recognized for its ability to efficiently destroy and mineralize a broad spectrum of organic wastes, producing safe dischargeable water streams and recoverable heat energy. The company continues to lead in providing innovative waste treatment solutions, with a commitment to a sustainable future and the eradication of harmful pollutants. Trading at $0.37 per share, with a year-to-date decline of 46%, InvestingPro analysis suggests potential upside based on its Fair Value calculations. Subscribers can access 14 additional ProTips and comprehensive financial metrics to better understand the company’s growth trajectory.
This announcement is based on a press release statement from 374Water Inc. and does not include any forward-looking statements or subjective assessments.
In other recent news, 374Water Inc. has announced a significant development in its waste destruction technology, projecting approximately $1.3 million in revenue from the deployment of its AirSCWO 6 system at the Orange County Sanitation District (OC San) from the second to fourth quarters of 2025. This system aims to enhance waste management and resource recovery, with manufacturing expected to be completed by March 2025 and delivery slated for May 2025. Additionally, the company has published a white paper demonstrating the AirSCWO system’s capability to achieve more than 99.9% removal of per- and polyfluoroalkyl substances (PFAS) from spent anion exchange resins. This surpasses current disposal methods and aligns with recent Environmental Protection Agency regulatory requirements. The AirSCWO technology offers a revolutionary approach to treating PFAS-laden waste, producing safe dischargeable water streams and recoverable heat energy. The potential expansion at OC San includes upgrading to a larger AirSCWO 30 system and the installation of up to five AirSCWO 200 systems. These advancements highlight 374Water’s ongoing efforts to address environmental challenges and position itself as a leader in the waste treatment market.
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