Business
The firms looking to destroy harmful ‘forever chemicals’
Technology Reporter
374Water“There’s a lot of destruction that needs to be done,” sums up Parker Bovée of Cleantech Group, a research and consulting firm.
He is referring to PFAS (Perfluoroalkyl and Polyfluoroalkyl Substances), also known as “forever chemicals”.
These man-made chemicals can be found in items such as waterproof clothing, non-stick pans, lipsticks and food packaging.
They are used for their grease and water repellence, but do not degrade quickly and have been linked to health issues such as higher risks of certain cancers and reproductive problems.
The extraordinarily strong carbon-fluorine bonds they contain gives them the ability to persist for decades or even centuries in nature.
PFAS can be detected and removed from water and soil and then concentrated into smaller volumes of high strength waste.
But what to do with that waste?
Currently, concentrated PFAS waste is either put in long-term storage which is expensive, or incinerated (often incompletely, leading to toxic emissions), or sent to landfills for hazardous waste.
But now clean-tech companies are bringing techniques to market that can destroy them.
These are being tested in small-scale pilot projects with potential customers including some industrial manufacturers, municipal wastewater treatment plants and even the US military.
There’s a “large and growing” market opportunity for PFAS destruction companies notes Mr Bovée.
While it is mostly currently centred in the US, others are dipping their toes, he says.
In the UK, funding for water companies to look into PFAS destruction has been provided by water regulator Ofwat, with Severn Trent Water leading a project to examine the potential technologies and suppliers.
One factor driving the market forward in the US is legal risk. Thousands of lawsuits claiming PFAS-related contamination and harm have been filed with some large chemical manufacturers, notably 3M, having already paid out billions in class-action settlements.
Regulation is also beginning to tighten worldwide.
Legal limits for two PFAS in drinking water are now scheduled to take effect in the US in 2031.
PFAS remains a bipartisan issue, says Mr Bovée, and many expect that future US regulation will expand beyond drinking water to cover industrial discharge and other sources.
The EU also has legal limits for PFAS in drinking water, which member states must begin enforcing from next year.
Axine Water TechnologiesThere are a variety of technologies for destroying PFAS – each with their own advantages and limitations.
According to Mr Bovée, one technology that is almost commercially ready is electrochemical oxidation (EO) technology.
Electrodes are placed in water contaminated by PFAS and a current is passed through, resulting in the chemicals’ breakdown.
While energy intensive, it doesn’t require high temperature or pressure, and is easy to operate and integrate into existing treatment systems for concentrating PFAS, says Mark Ralph, CEO of Canadian-based start-up Axine Water Technologies.
Last year, following a successful pilot project, it sold its first commercial-scale unit to a Michigan-based producer of automotive components. It is now up and running and the customer is planning to purchase additional systems for other sites.
374WaterAnother technology not far behind is Supercritical Water Oxidation (SCWO).
It relies on heating and pressurising water to such a high degree that it enters a new state of matter: a so-called supercritical state. When the PFAS waste stream is introduced, it breaks the carbon-fluorine bonds.
One advantage is that it can process both solid and liquid PFAS waste, says Chris Gannon, CEO of North Carolina-based 374Water.
He says his technology can even destroy PFAS in plastics if they are ground up.
It can be expensive to buy and maintain – the process is so intense it requires a complex reactor and regular cleaning. But it can be more cost effective if the PFAS is first concentrated before it enters the process.
Currently the City of Orlando in Florida is testing 374Water’s technology at its largest wastewater treatment plant.
The City is trying to get ahead of the curve, explains Alan Oyler, its special projects manager for public works.
Levels of PFAS in sewage sludge aren’t currently regulated, but he expects them to be in the future.
So far, Mr Oyler is pleased with the destruction capability he has seen, but is also waiting to see how reliable the system is.
The scale of 374Water’s current technology is small: it can handle just a fraction of the tonnes of wet sludge the facility produces daily.
But the company is in the process of scaling up, and Mr Oyler imagines in a few years it will be able to handle all the facility’s material “ready for when the regulations require”.
Other technologies on their way to being commercially ready include hydrothermal alkaline treatment (HALT), which uses high temperature, high pressure, and an alkaline chemical to destroy PFAS; and plasma-based technology, which involves making an ionized gas (called a plasma) to attack and degrade the PFAS molecules.
AquaggaYet there is one potential issue with the technologies now coming through, says Jay Meegoda, a professor of civil and environmental engineering at the New Jersey Institute of Technology: nasty PFAS degradation byproducts.
For example, in the case of EO, highly corrosive hydrogen fluoride vapor. Each needs a “complete study” accounting for all their inputs and outputs, he says.
The companies have claimed they either don’t produce PFAS degradation products or deal with them adequately.
One important partner for many of the PFAS destruction companies in testing their technologies in the real world has been the US Department of Defence (DOD).
PFAS contamination at US military sites is a big, below-the-radar problem. It stems particularly from the use of older formulations of firefighting foam, used for example during training exercises or emergencies, but other routes too such as the cleaning of military equipment.
More than 700 sites are known or suspected to be contaminated, posing a threat to surrounding communities. A judge recently cleared the way for PFAS contamination and harm lawsuits against the military to proceed.
Clean up efforts are where the destruction companies could come in, and projects have been undertaken or are under way at various sites to assess the performance and cost effectiveness of many of their solutions.
One start-up, Aquagga, which specialises in HALT technology, recently completed a demonstration project for the DOD which involved destroying a firefighting foam mixture amongst other concentrated PFAS-containing liquids.
Immense volumes of the foam are currently stockpiled in all sorts of places, not just at military sites.
Like others, Aquagga sees a big opportunity over the next few years for both destroying the foam and remediating the environmental damage associated with its use.
And outside the military, there’s a tantalizing new PFAS waste stream on the horizon. The US is actively expanding domestic computer chip manufacturing – a process that uses PFAS in massive amounts. “We can destroy that,” says Mr Gannon, of 374Water.
Business
Visa launches new AI tools to manage the charge dispute process
Visa Inc. signage on the floor of the New York Stock Exchange (NYSE) in New York, US, on Wednesday, Jan. 28, 2026.
Michael Nagle | Bloomberg | Getty Images
Visa is launching six new tools using artificial intelligence to modernize the process of disputing credit card charges, the company told CNBC exclusively.
The digital payments company said the tools are designed to reduce the costs and frustration of “outdated” dispute processes for multiple entities involved in the payments process: merchants, issuers and acquirers.
“Some of the challenges are these back-office systems are still largely manual,” Andrew Torre, Visa’s president of value-added services, told CNBC. “We really had to think differently about how we approach this at scale.”
In 2025, Torre said, Visa processed more than 103 million charge disputes globally, marking a 35% increase since 2019.
“Our goal is to streamline this as much as possible,” Torre said. “We’d love to be able to see that growth rate come down.”
Visa’s new tools are part of a larger push by major banks and financial institutions to incorporate AI into their businesses — both internally and in consumer-facing applications. JPMorgan Chase and Goldman Sachs have both said they’re already using AI to hire fewer people. BNY spent $3.8 billion on technology in 2025, or about 19% of its revenue.
Visa said three of its six new tools focus on merchants, allowing them to address potential disputes before they escalate, managing disputes with generative AI responses and providing a deeper level of detail on order insights to manage confusion over unfamiliar charges.
For example, Torre said, many disputes are borne out of cardholders not recognizing a specific charge on their statements. With the new tool, Visa will be able to provide further details to financial institutions to show cardholders that data at a deeper level, according to the company.
The other three tools are built for issuers and acquirers, using predictive AI models to aid in case-by-case analysis, analyzing documents for summaries and auto fill and establishing an AI-powered dispute platform to manage the entire process in one location, Visa said.
“We’ll be able to get them insights and data so they can move from being reactive to proactive,” Torre said.
Torre said Visa’s new AI tools are part of a broader host of solutions for consumers, including a subscription manager announced last week that allows cardholders to cancel unnecessary subscriptions directly on the manager.
The automation will save time, money and unnecessary confusion for both parties, he added. Most of the tools will be generally available later this year, the company said.
“We really believe that disputes in this solution makes it much easier to manage and resolve,” Torre said. “We think it has better outcomes for everyone.”
Business
Stock market today (April 1, 2026): Which are the top gainers and losers in Nifty50 and BSE Sensex today? Check list – The Times of India
Benchmark equity indices Sensex and Nifty ended nearly 2 per cent higher on Wednesday, starting the new financial year on a firm footing as global markets rallied on hopes of a potential de-escalation in the ongoing West Asia conflict.The 30-share BSE Sensex jumped 1,186.77 points or 1.65 per cent to settle at 73,134.32. During intra-day trade, it surged 2,017.03 points or 2.80 per cent to 73,964.58.The broader NSE Nifty rose 348 points or 1.56 per cent to close at 22,679.40. A decline in crude oil prices also supported investor sentiment.
Nifty50 top gainers
- Trent (+7.00%)
- InterGlobe Aviation (+6.02%)
- Kwality Wall’s (+5.79%)
- Adani Ports SEZ (+5.55%)
- BEL (+4.51%)
- SBI (+3.93%)
- Eicher Motors (+3.64%)
- Jio Financial Services (+3.50%)
- Eternal (+3.30%)
Nifty50 top losers
- Dr Reddy’s (-3.61%)
- HDFC Life (-2.99%)
- Cipla (-2.32%)
- Sun Pharma (-1.64%)
- NTPC (-1.62%)
- Apollo Hospitals (-1.53%)
- Power Grid (-1.12%)
- Max Healthcare (-0.36%)
- UltraTech Cement (-0.29%)
Sensex top gainers
- Trent (+7.00%)
- InterGlobe Aviation (+6.02%)
- Adani Ports SEZ (+5.55%)
- BEL (+4.51%)
- SBI (+3.93%)
- Eternal (+3.30%)
- L&T (+2.96%)
- Titan Company (+2.89%)
Sensex top losers
- Sun Pharma (-1.64%)
- NTPC (-1.62%)
- Power Grid (-1.12%)
- UltraTech Cement (-0.29%)
- Bharti Airtel (-0.03%)
“Indian equity markets opened the new financial year on a positive note, with stocks soaring on fresh optimism surrounding a potential de-escalation of the Middle East conflict and easing of energy supply disruptions,” said Ponmudi R, CEO of Enrich Money.He added that US President Donald Trump’s remarks suggesting the US could withdraw from Iran “whether we have a deal or not” within the next two to three weeks provided the trigger for a broad rally in global risk assets.“Indian equity markets opened FY27 on a strong note, driven by improving risk appetite following US President Donald Trump’s remarks hinting at a potential resolution to the West Asia conflict,” said Vinod Nair, Head of Research at Geojit Investments Limited.In the US, markets ended significantly higher on Tuesday, with the Nasdaq Composite surging 3.83 per cent, the S&P 500 rising 2.91 per cent and the Dow Jones Industrial Average gaining 2.49 per cent.Brent crude, the global oil benchmark, declined 0.22 per cent to USD 103.7 per barrel.Stock markets were closed on Tuesday on account of Shri Mahavir Jayanti.Foreign Institutional Investors (FIIs) offloaded equities worth Rs 11,163.06 crore on Monday, while Domestic Institutional Investors (DIIs) bought shares worth Rs 14,894.72 crore, according to exchange data.
Business
Food prices to rise by almost 10% due to Iran war, warns key industry body
Food bills are set to soar as much as 10 per cent this year as a direct consequence of the Iran war, a key industry body has warned.
The Food and Drink Federation (FDF), which represents 12,000 food and drink manufacturers, has hiked its inflation forecast for the year from 3.2 per cent to between nine and 10 per cent.
During the 2022 cost of living crisis, food inflation rose at a rate of 10.9 per cent, figures from the Food and Drink Federation (FDF) show, while the following year was even worse at 14.6 per cent.
Since then, it had dropped back to 2.7 per cent (2024) and 4.2 per cent (2025), but while this year had originally been forecast to deliver food inflation of 3.2 per cent, the latest assessment is that it will instead see a huge rise in the second half of 2026.
The FDF said the current situation is “unprecedented and hard to predict”, but it’s “clear that food inflation is going to rise in the months ahead”.
How much that adds to the average bill depends on the size and frequency of a consumer’s usual grocery habits, but on average, bills could rise by around £588, according to some estimates.
Consumer rights and review site Which? frequently assesses UK supermarkets for cost, and at the start of 2026, an average basket of 89 shopping products cost £161.56 at Aldi and up to £217.02 at Waitrose.
Assuming food inflation lands at the mid-point of the FDF forecast, 9.5 per cent, and that all products and supermarkets applied that uplift equally, that would move the costs of those shops up to £176.91 and £237.64 respectively.
Research from confused.com suggested the average UK household spent £119 each week on food shopping, which is £6,188 each year; a 9.5 per cent uplift to that equates to an extra £588 annually, or a total of just over £130 per week and £6,775 annually.
Chancellor Rachel Reeves is due to meet with some supermarket chiefs on Wednesday, including Sainsbury’s and Tesco, over discussions to assess the upcoming impact of price rises on the cost of living. The Treasury has described it as a “fact-finding” conversation.
Last month, Asda boss Allan Leighton called on Labour to do more to help businesses after creating “a lot of constraints” for them.
For food manufacturers, there is both a concern now and another yet to come in terms of energy cost rises.
Diesel – used in farm machinery – is up by 80 per cent since the start of the war, while fertiliser costs could increase further, as well as supply being constrained. The FDF also points to lost sales due to cancelled shipments to the Middle East, with UK firms regularly exporting cheese, cereals, chocolate and more to the region.
Dr Liliana Danila, chief economist at The Food and Drink Federation, said: “The food and drink sector is already feeling the force of this geopolitical shock. As one of the UK’s energy-intensive industries, manufacturers are facing mounting energy bills, rising transport and packaging costs and disruption across key supply chains.
“These pressures are hitting simultaneously and are a significant challenge for businesses to absorb.
“The current situation is unprecedented and hard to predict; however, given the scale and speed of these cost increases, and despite companies’ best efforts not to pass price increases on, it’s clear that food inflation is going to rise in the months ahead.”
The FDF says its upgraded inflation figures were based on “assumptions that the Strait of Hormuz opens to cargo traffic within the next two to three weeks”, as has been suggested by Donald Trump this week, and that most commodities, including oil, gas and fertiliser production, return to normal within a year.
In the past few months, the FDF has repeatedly called for the government to offer support to businesses in the sector from rising energy bills in the same way as it does to those in some other manufacturing areas.
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