DURHAM, NC / ACCESSWIRE / February 16, 2022 / 374Water Inc. (OTCQB:SCWO) a social impact cleantech company today announced the promotion of Israel Abitbol, CPA to Chief Financial Officer (CFO) and John Hofmann, CPA to Senior Vice President, effective immediately. Hofmann previously served as the Company's part-time CFO and is a partner at KSDT & Co. Abitbol was appointed to the role of Head of Finance in 2019 and will now succeed Hofmann as the Company's full-time CFO. These moves are consistent with the Company's expected growth plans and outlook.
For 11 years, Hofmann has been pivotal in establishing the Company's financial foundation, serving as CFO of PowerVerde, Inc. prior to and throughout its 2021 merger with 374Water. Hofmann will continue to contribute to the Company's success with an expanded role as Senior Vice President. Abitbol joined 374Water in 2019 as Head of Finance. In this role, he was responsible for all accounting functions, including financial planning and budgeting, preparation of financial statements, SEC reporting, and management of audits.
"Israel has taken on the increased scope and complexity of establishing and managing a world-class finance and accounting group," said Kobe Nagar, CEO of 374Water. "With his experience and leadership skills, as well as his thorough knowledge of 374Water's financial operations, Israel was the obvious choice to become our full-time CFO. Israel is a great addition to the executive team and has the full confidence of myself, our Board, and the entire 374Water organization."
"I am excited to take on increased responsibilities and move into the role of CFO," said Israel Abitbol, CFO of 374Water. "I look forward to joining the 374Water executive team and working together to develop and implement business strategies that enhance the Company's position as a market leader and add value for our stakeholders"
Cautionary Language
This press release contains "forward-looking statements," as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning.
About 374Water
374Water is a US-based cleantech, social impact company whose mission is to preserve a clean and healthy environment that sustains life. We are pioneering a new era of sustainable waste management that supports a circular economy and enables organizations to achieve their sustainability goals.
CONTACT:
Mr. Richard Davis
ir@374Water.com
(786) 412-7015
SOURCE: 374Water, Inc.
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