374Water Appoints Chris Gannon as New CEO to Spearhead Scaling of its Revolutionary Waste and Water Treatment Technology - Seite 2

U.S. wastewater treatment plants alone treat 34 billion gallons of wastewater daily, translating into 292 million tons of solid waste produced annually. Present waste disposal options, such as land application, landfill, incineration and deep well injection, are inadequate and all have environmental, health and liability repercussions. In addition, the EPA's April 2024 PFAS in drinking water regulations surrounding Per- and Polyfluorinated Substances (PFAS), commonly known as "forever chemicals," further underscore the need for advancements in waste treatment and destruction technologies.

374Water's AirSCWO system efficiently, continuously, cost-effectively, and with unprecedented reliability transforms a range of organic wastes - including biosolids, PFAS, AFFF, water and waste treatment residuals, landfill leachate, oily sludge, granulated activated carbon, and ion exchange resins - into clean water, safe minerals, and renewable energy. Leveraging the waste-agnostic AirSCWO technology, 374Water intends to tackle this global environmental challenge in a comprehensive and cost effective way, thereby redefining the waste management and water treatment industries.

Gannon further commented, "My immediate goal is to establish a growth-accelerating strategy and secure the essential tools and funding for implementation. Growing our revenue and team, investing in technology and our manufacturing platform are crucial for future success. As we progress, we will maintain active engagement with our key stakeholders. I am confident in 374Water and our AirSCWO technology's ability to revolutionize the waste management and water treatment industries."

Chris Gannon Background

Gannon brings extensive experience in scaling companies and deep expertise in capital markets and engineering. As the former President and CEO of Energy Recovery, Inc. (NASDAQ: ERII), he spearheaded the company's rapid growth in the core water business and its expansion into the wastewater and refrigeration markets. His leadership saw a quadruple increase in market capitalization and a tripling of annual revenue, achieved through expanding manufacturing, building a top-tier R&D&E division, and forging strategic partnerships. Later, as CEO of National Fire and Safety, he transformed and scaled the company, growing to over 900 employees and expanding its operational footprint through strategic acquisitions and a revamped revenue model. He holds an MBA from the University of Chicago Booth School of Business and a BSE from the University of Michigan's College of Engineering.