374Water Announces Settlement of Claim
Rhea-AI Summary
374Water Inc (NASDAQ: SCWO) has announced a settlement agreement with its co-founder and former CEO, Yaacov (Kobe) Nagar, regarding an employment claim filed against the company. The settlement terms remain confidential, but both parties have expressed satisfaction with the resolution.
Current CEO Chris Gannon stated that the company values Nagar's contributions and looks forward to future collaboration. Nagar also expressed optimism about the company's future success in 'SCWOing the world.' The agreement marks a new chapter for both parties, who remain committed to maintaining a productive relationship moving forward.
Positive
- Resolution of employment claim removes legal uncertainty
- Potential for future collaboration with former CEO
Negative
- Confidential settlement terms may involve undisclosed financial obligations
- Previous leadership dispute could indicate internal governance challenges
News Market Reaction 1 Alert
On the day this news was published, SCWO gained 11.27%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
DURHAM, N.C., April 10, 2025 (GLOBE NEWSWIRE) -- 374Water Inc. (NASDAQ: SCWO) (“374Water” or the “Company”), a global leader in organic waste destruction technology for municipal, federal, and industrial markets, today announced that it has reached a settlement with its co-founder and former Chief Executive Officer, Yaacov (Kobe) Nagar, regarding an employment claim that had been filed against the Company. Both parties are pleased to resolve the matter amicably and look forward to future opportunities for collaboration.
The terms of the settlement are confidential, but both parties are satisfied with the resolution and believe that it will allow for a positive and productive relationship going forward.
“We are pleased to have reached a fair and mutually beneficial settlement with Mr. Nagar,” said Chris Gannon, Chief Executive Officer of 374Water. “We have always valued Mr. Nagar’s contributions to the Company and look forward to continued collaboration in the future. This settlement marks a new chapter, and we are excited about the possibilities ahead.”
Mr. Nagar added “I am pleased to have this matter resolved and I look forward to seeing 374Water succeed in SCWOing the world."
Both 374Water and Mr. Nagar remain committed to a productive and positive future, focusing on their shared goals and vision for the industry.
About 374Water
374Water Inc. (NASDAQ: SCWO) is a global cleantech company providing innovative solutions addressing wastewater treatment and waste management issues within the municipal, federal and industrial markets. 374Water's AirSCWO technology can reduce or eliminate disposal costs, remove operational bottlenecks, reduce litigation, discharge and other risks. AirSCWO is designed to efficiently destroy and mineralize a broad spectrum of organic non-hazardous and hazardous organic wastes producing safe dischargeable water streams, safe mineral effluent, safe vent gas, and recoverable heat energy. 374Water’s AirSCWO products destruction capacity scale from 1 ton per day to over 200 tons per day. 374Water offers capital sale and lease options, as well as turn-key waste destruction services. 374Water is a leader in innovative waste treatment solutions, dedicated to creating a greener future and eradicating harmful pollutants. Learn more by visiting www.374water.com and follow us on LinkedIn.
Investor Relations and Media Contact
Chris Tyson
Executive Vice President
MZ North America
Direct: 949-491-8235
SCWO@mzgroup.us
www.mzgroup.us
FAQ
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