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
UPI transactions hit record Rs 29.53 lakh crore in March; volumes cross 22.6 billion – The Times of India
Unified Payments Interface (UPI) transactions touched a record high in March, with both value and volume hitting new peaks, driven by festive spending and financial year-end activity, according to PTI.Data released by the National Payments Corporation of India (NPCI) showed that UPI transactions totalled Rs 29.53 lakh crore in value during March, up 19 per cent from Rs 24.77 lakh crore in the same month last year.On a month-on-month basis, transaction value rose 10 per cent from Rs 26.84 lakh crore recorded in February.In volume terms, UPI registered 22.64 billion transactions during the month, marking a 24 per cent increase from 18.3 billion transactions a year ago. The volume was 20.39 billion in February.Average daily transactions stood at 730 million, with an average daily value of Rs 95,243 crore, as spending picked up during festivals such as Holi and Eid.“The sustained growth in the digital payment ecosystem in India is an affirmation of the penetration of real-time payment systems in the day-to-day life of the people. UPI processed 22.64 billion transactions worth 29.53 lakh crore in March 2026, marking its emergence as one of the trusted payment systems in the country,” said Anand Kumar Bajaj, MD & CEO of PayNearby.UPI now accounts for around 85 per cent of all digital transactions in India and contributes nearly 50 per cent of global real-time digital payments.The platform is operational in seven countries, including the UAE, Singapore, Bhutan, Nepal, Sri Lanka, France and Mauritius, with its entry into France marking its first expansion into Europe.NPCI, an initiative of the Reserve Bank of India and the Indian Banks’ Association, operates UPI, enabling real-time peer-to-peer and merchant payments across the country.
Business
Minimum wage rises to £12.71 an hour as firms warn of impact
But Spencer says his business is being squeezed from every angle – as well as minimum wage, he has had increases in business rates, national insurance, and statutory sick pay. He also expects energy bills to go up because of the war in the Middle East.
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.”
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