Water Innovation Accelerator (WIA) is the leading virtual global water tech accelerator committed to solve the world's water and wastewater challenges.
Water Innovation Accelerator (WIA) is thrilled to announce its first investment in 374Water, a cleantech wastewater treatment company based in Durham, North Carolina. 374Water turns organic waste into clean water, heat, and electricity using their proprietary Supercritical Water Oxidation (SCWO) technology. Their technology enables a circular economy, with the mission of preserving a healthy environment and creating a world without waste. 374Water addresses the United Nations’ SDGs for Clean Water and Sanitation (SDG 6); Industry, Innovation, and Infrastructure (SDG 9); and Climate Action (SDG 13).
According to Stuart Rudick, WIA Founder & CEO, “WIA was drawn to 374Water because of Kobe and his passionate team’s innovation for revolutionizing wastewater management. Not only is 374Water extracting valuable resources from waste, it is also saving water while eliminating organic and toxic contaminants like PFAS, the ‘forever chemicals’ from wastewater. At WIA, we are deeply committed to investing in innovations that are mitigating the harmful health impacts of PFAS.”
In the upcoming months, 374Water will participate in WIA’s accelerator. The WIA team curates a customizable program to fit the specific needs of each participating company. WIA helps founders maximize impact, build strong company culture and values, and scale revenues, customers, and profits. WIA is excited to work with 374Water’s team.
On April 20th, 374Water announced its merger with PowerVerde Inc. (PWVI), a publicly traded energy systems developer. According to Kobe Nagar, CEO of 374Water, "The merger of 374Water and PowerVerde will advance the global paradigm shift from water and waste treatment to resource recovery.” The merger expedites the delivery of a waste and water resource recovery system (“AirSCWO”) that will enable municipal, industrial waste, and wastewater management organizations to reduce water use, increase energy efficiency, and convert waste into a valuable economic asset.
374Water Inc. just completed their $6.5M Series D preferred stock offering and merger with Powerverde Inc. The merged company, led by Kobe Nagar, will be called 374Water Inc. They currently trade under the PWVI symbol, but the symbol will likely be updated to SCWO, the acronym for Supercritical Water Oxidation.
Are you a founder of a growth-stage private water company? Are you looking for a water focused investment partner and astute mentorship? Apply to our accelerator program here!
374Water press release announcing merger: “PowerVerde Inc. Completes its Merger with 374Water, Inc. to Accelerate Delivery of CleanTech to Eliminate PFAS and Recover Resources from Waste and Wastewater”
WIA Accelerator Information: https://www.waterinno.com/program
By Aliza Sitrin, on April 23, 2021