Share this article Share this article MIAMI, April 20, 2021 /PRNewswire/ -- PowerVerde Inc. OTCQB ("PWVI"), a Florida-based energy systems developer, and 374Water Inc. ("374Water"), a North Carolina-based cleantech company, today announced the completion of the merger contemplated by their binding LOI executed Sept 20, 2020. The merger will accelerate the delivery of a waste and water resource recovery system that will enable municipal, industrial waste, and wastewater management organizations to address the growing risk of 'forever chemicals' PFAS contamination, while also recovering precious natural resources. Subject to the terms and conditions set forth in the merger agreement, PWVI is issuing new shares of PWVI stock to 374Water shareholders and closing its $6.4 million private placement of Series D convertible preferred stock such that 374Water shareholders will own approximately 49.1% of the combined company, PWVI shareholders will own approximately 34.4% and the preferred stock investors will own approximately 16.5%. The merged company will be named 374Water Inc. and will likely trade under the symbol