TMO
2nd
Thermo Fisher Scientific
$217,832.92 Mn
589.14
+0.61%
+20.84%
The Analytical Instruments segment provides chemical analysis and environmental and process instruments used for environmental and industrial quality and process control settings.
GLW
2nd
Corning
$137,735.99 Mn
159.90
-7.70%
+144.05%
The company's Automotive segment produces emissions control technologies, specifically gasoline and diesel particulate filters, which are pollution-control equipment sold to automotive customers.
ECL
Ecolab
$78,512.03 Mn
280.10
+1.53%
+0.01%
Ecolab's Global Water segment provides water treatment and process applications, including cooling water, ultra pure water, and wastewater solutions for large industrial customers. The company's core identity is as a leader in water hygiene and water treatment programs.
FERG
2nd
Ferguson Enterprises
$47,454.71 Mn
244.45
-0.23%
+5.77%
The company sells water and wastewater solutions and treatment products to residential, commercial, and industrial clients. This represents a substantive business line focused on managing and treating water systems.
IDXX
2nd
Idexx Laboratories
$43,642.56 Mn
553.32
+1.32%
-13.25%
The company provides testing solutions and instrumentation for the detection of microbiological parameters in water, serving water utilities and public health agencies.
IR
2nd
Ingersoll Rand
$31,338.71 Mn
80.77
-1.87%
+2.38%
The company sells its pumps and fluid handling systems specifically to water and wastewater treatment plants as a key customer market.
TDY
2nd
Teledyne Technologies
$30,841.54 Mn
665.33
-1.78%
+23.99%
The company sells environmental instrumentation for monitoring air quality (sulfur dioxide, ozone) and water monitoring systems for wastewater detection of pathogens and contaminants.
AWK
2nd
American Water Works Company
$27,080.80 Mn
136.27
+1.38%
-4.48%
The company operates non-regulated businesses, specifically the Military Services Group, which provides outsourced water and wastewater system operations and management for 18 military installations under long-term government contracts.
XYL
Xylem
$26,605.82 Mn
113.95
-3.00%
-19.10%
Xylem's core business is the design, manufacture, and service of water and wastewater treatment equipment, including filtration, disinfection, and biological treatment systems. Its primary customers are water and wastewater utilities, and it provides comprehensive solutions for the entire water cycle.
VLTO
Veralto
$23,462.74 Mn
96.08
-0.67%
-9.94%
Veralto's Water Quality segment provides precision instrumentation, consumables, and advanced water treatment technologies through brands like Hach and Trojan Technologies to treat and analyze water for municipal and industrial customers.
DD
2nd
DuPont de Nemours
$18,743.97 Mn
138.80
-3.02%
+353.30%
The company provides comprehensive water purification and filtration technologies, including FILMTEC reverse osmosis elements and INGE ultrafiltration modules, sold to municipal utilities and industrial wastewater facilities.
LECO
2nd
Lincoln Electric Holdings
$15,368.99 Mn
281.97
-1.42%
+18.43%
The product portfolio includes fume control equipment, which is used for air filtration and emissions control in industrial welding environments.
WTS
2nd
Watts Water Technologies
$12,533.69 Mn
375.45
-2.58%
+36.82%
The company has a dedicated water quality product line (5% of sales) that provides filtration, monitoring, conditioning, and scale prevention systems for point-of-use and closed-loop cooling towers.
WMS
2nd
Advanced Drainage Systems
$10,275.79 Mn
144.08
-2.64%
+2.17%
The company provides water management solutions including water quality filters, separators, and advanced treatment units for stormwater and wastewater. These products are designed specifically for the treatment and management of water streams.
PNR
2nd
Pentair
$10,144.99 Mn
63.55
-0.83%
-39.82%
The company has a dedicated Water Solutions segment that manufactures water treatment systems, including activated carbon products, membrane bioreactors, and point-of-entry/point-of-use filtration systems for residential and commercial use.
STN
2nd
Stantec
$8,468.33 Mn
74.24
-0.04%
-30.00%
Stantec operates a Water business unit that designs sustainable water resources, planning, and management solutions to provide clean and safe water for communities and industry.
AOS
2nd
Smith A O
$8,346.81 Mn
60.86
-0.90%
-15.65%
The company has a significant business line in water treatment, selling water filtration systems and reverse osmosis technology through the Pureit brand and other product lines.
ZWS
2nd
Zurn Elkay Water Solutions
$8,170.69 Mn
49.20
-2.19%
+9.21%
The company provides water treatment and management solutions, including filtered drinking water delivery systems, bottle filling stations, and wastewater pre-treatment products like oil and grease interceptors.
BBUC
2nd
Brookfield Business
$5,830.44 Mn
28.38
-1.97%
-14.03%
The company provides water and wastewater services, including a private sanitation company serving millions in Brazil, matching the Water Treatment industry's scope of managing water and wastewater.
PSN
2nd
Parsons
$4,977.87 Mn
46.53
+1.68%
-41.41%
Parsons delivers design and engineering services specifically for water and wastewater treatment projects, serving customers such as the Southern Nevada Water Authority.
FELE
2nd
Franklin Electric
$4,507.62 Mn
101.95
-1.99%
+5.57%
The company explicitly manufactures and sells water treatment systems and has expanded its offerings in this area through acquisitions such as Action Manufacturing & Supply.
VNT
2nd
Vontier
$4,374.82 Mn
32.05
-0.93%
-24.50%
The Environmental & Fueling Solutions segment manufactures and provides environmental monitoring, leak detection systems, and vapor recovery equipment to ensure safety and environmental compliance for fueling operators.
ITRI
2nd
Itron
$4,210.18 Mn
96.18
-4.40%
-24.49%
The company provides comprehensive water management solutions, including water meters and software for non-revenue water reduction and water infrastructure analytics for municipal water departments.
MWA
2nd
Mueller Water Products
$3,890.05 Mn
24.92
-1.03%
-4.92%
The company provides water transmission, distribution, and measurement products, including leak detection and pressure management solutions specifically for water and wastewater utilities.
BWNB
2nd
Babcock & Wilcox Enterprises
$3,747.88 Mn
25.16
-0.04%
+46.96%
The company provides environmental and decarbonization technologies, including carbon capture systems and emissions control solutions, sold to industrial and municipal customers to meet environmental compliance requirements.
BMI
Badger Meter
$3,645.97 Mn
125.78
-2.21%
-32.63%
Badger Meter's primary revenue driver is its Utility Water line (89% of sales), which provides meters, radio endpoints, and water quality sensors to municipal and private water utilities. The company focuses on water management across the full water cycle, including source, treatment, and return.
CECO
Ceco Environmental
$3,315.46 Mn
76.55
-9.03%
+64.34%
CECO Environmental manufactures and sells air pollution and contamination control equipment, including selective catalytic reduction systems, thermal oxidizers, wet and dry scrubbers, and dust collectors. These products are sold to industrial customers in sectors like power generation, chemical processing, and semiconductor manufacturing to manage emissions and toxic fumes.
EFXT
2nd
Enerflex
$2,645.53 Mn
21.72
-3.38%
+123.69%
Enerflex sells and operates produced water solutions and water treatment applications as part of its Engineered Systems and Energy Infrastructure product lines.
HWKN
2nd
Hawkins
$2,588.84 Mn
124.80
-5.15%
-28.10%
The Water Treatment segment provides chemicals, filtration media, and systems for potable and wastewater, and sells and services equipment including tanks, valves, and pumps for water treatment.
GRC
2nd
Gorman Rupp
$2,080.07 Mn
78.76
-2.40%
+90.70%
The company specifically targets municipal water and wastewater utilities with pumps used in critical infrastructure such as flood control systems and wastewater applications.
CDZIP
Cadiz
$1,887.74 Mn
22.43
-0.66%
+22.90%
Cadiz operates ATEC Water Systems, which designs, manufactures, and sells modular water filtration systems to remove contaminants like arsenic and PFAS for municipalities and public water systems. This segment is a current revenue-generating business line focused on treating and managing water.
NWPX
NWPX Infrastructure
$1,096.55 Mn
113.75
-2.81%
+122.30%
The company is a leading manufacturer of water-related infrastructure, producing steel casing pipe, concrete cylinder pipe, and wastewater pretreatment products. Its primary business is treating and managing water through the sale of drinking water mains, sanitary sewer systems, and stormwater quality products.
ONT
2nd
Onterris
$564.92 Mn
16.09
+0.50%
-42.45%
The company's 'Remediation and Reuse' segment provides engineering design and implementation services that treat contaminated water and remove pollutants from soil using advanced treatment technologies, which matches the outsourced treatment services and water management described in I-38.
CWCO
2nd
Consolidated Water
$481.13 Mn
30.07
+0.07%
-7.31%
The company has a dedicated Manufacturing Operations segment that manufactures and services specialized and custom water-related products and systems for commercial, municipal, and industrial customers.
ERII
Energy Recovery
$403.26 Mn
7.88
-3.19%
-44.70%
The company's core business is the design and manufacture of pressure exchangers, pumps, and turbochargers specifically for seawater desalination, brackish water desalination, and wastewater treatment. These products are sold to municipal water utilities, project developers, and industrial water treatment operators to improve efficiency in reverse osmosis installations.
CVEO
2nd
Civeo
$369.06 Mn
33.56
-0.39%
+51.65%
Civeo delivers water and wastewater treatment services as part of its integrated services offering at remote work locations.
AIRJ
AirJoule Technologies
$364.27 Mn
5.32
-8.43%
+11.76%
AirJoule's core business is the manufacture and sale of systems (AirJoule Core and AirJoule Prime) that produce purified distilled water from ambient air for industrial and commercial clients. The company generates revenue through system sales and Water Purchase Agreements (WPAs) for the water produced.
GENC
2nd
Gencor Industries
$236.54 Mn
19.17
-4.82%
+24.97%
The company explicitly manufactures and sells environmental control equipment as part of its product offerings to the highway construction market.
INV
2nd
Innventure
$112.53 Mn
1.33
-3.62%
-68.03%
The Refinity segment develops technology to convert mixed plastic waste into chemicals using a fluidized bed process, serving petrochemical companies with sustainable chemical outputs.
RNGE
2nd
Range Impact
$87.25 Mn
0.77
+0.00%
+327.78%
The company operates and maintains passive and active water treatment systems and performs water restoration activities as part of its Range Services segment.
GEOS
2nd
Geospace Technologies
$76.97 Mn
5.95
+3.12%
-65.14%
Through its Smart Water segment, the company sells Aquana smart water valves, leak detection, and remote shutoff solutions to water utilities and municipalities.
NEPH
2nd
Nephros
$49.85 Mn
4.59
+6.25%
+6.74%
The company has a Commercial segment that sells carbon-based and carbon-free filters to foodservice, hospitality, laboratories, and manufacturing facilities to remove PFAS, lead, and other contaminants from water.
FTEK
Fuel Tech
$44.02 Mn
1.41
-2.08%
-49.82%
Fuel Tech's Air Pollution Control segment designs and sells NOx reduction systems (SCR, SNCR) and particulate control products like electrostatic precipitators and flue gas conditioning systems to industrial and utility customers.
SLND
2nd
Southland Holdings
$36.47 Mn
0.67
+0.00%
-83.17%
The company specifically provides design and construction services for water and wastewater treatment plants and outfall structures.
SCWO
374Water
$33.29 Mn
2.50
+1.63%
+1.09%
The company manufactures and sells the AirSCWO system, which is a pollution-control technology designed to mineralize hazardous and non-hazardous wastes, including PFAS and sewage sludge. Revenue is generated from the sale of these modular and mobile units to municipal water utilities and federal agencies.
CLIR
ClearSign Technologies
$29.39 Mn
4.66
+2.19%
-16.79%
ClearSign Technologies develops and sells combustion systems and the ClearSign Coreâ„¢ technology specifically designed for decarbonization, reducing nitrogen oxide emissions, and improving emission performance for industrial furnaces and boilers. The company competes directly with other providers of emissions control technologies to help industrial customers meet regulatory pressure to lower greenhouse gas emissions.
BCHT
Birchtech
$27.24 Mn
1.40
+6.87%
-51.29%
Birchtech manufactures and sells mercury emissions capture solutions and sorbent systems specifically for coal-fired power plants to control air pollution. This matches the description of pollution-control equipment and emissions control systems sold to industrial and municipal customers.
LNZA
LanzaTech Global
$14.48 Mn
6.24
-0.95%
-71.65%
LanzaTech provides carbon management and gas fermentation technology used at steel mills and refineries to convert waste emissions into marketable products. This matches the description of pollution-control equipment and systems that control industrial emissions for industrial and municipal customers.
ASTC
2nd
Astrotech
$13.95 Mn
7.93
-2.82%
+56.10%
The EN SCAN Inc. segment manufactures gas chromatography mass spectrometry systems specifically for the on-site analysis of air, water, and soil contaminants.
JBDI
2nd
JBDI Holdings
$12.84 Mn
1.35
-4.26%
+35.00%
The company operates the JBD Systems segment, which provides wastewater treatment services to third-party clients and leases a wastewater treatment plant to Liquinex Group Pte Ltd.
CVAT
2nd
Cavitation Technologies
$12.39 Mn
0.04
+0.00%
+0.00%
The company develops and sells systems for industrial water treatment and water-oil emulsions, including a joint venture called Enviro WaterTek LLC and pilots for agricultural water-remediation with Hacienda Farms.
CLWT
Euro Tech Holdings
$12.29 Mn
1.65
-0.60%
+35.25%
The company's core business is the distribution and engineering of water and wastewater treatment equipment, including ballast water treatment systems and process control instruments. It serves customers like the Hong Kong Water Supplies Department and the Drainage Services Department with these specific water-management solutions.
TOMZ
TOMI Environmental Solutions
$12.14 Mn
1.76
-1.12%
+93.41%
TOMI manufactures and sells SteraMist equipment and BIT Solution consumables designed for indoor air and surface decontamination. These products are sold to industrial, commercial, and municipal customers to control pathogens and pollution in indoor environments.
WFF
2nd
WF Holding
$11.18 Mn
2.22
+9.90%
-53.36%
The company specifically produces and sells air pollution control equipment as part of its core product portfolio.
LIQT
Liqtech International
$10.82 Mn
0.52
-7.14%
-74.38%
LiqTech manufactures ceramic silicon carbide filters and membranes for exhaust emission control (diesel particulate filters) and industrial gas/liquid filtration. These products are sold to industrial and municipal customers for pollution control and emissions management.
BNET
2nd
Bion Environmental Technologies
$10.33 Mn
0.18
+0.00%
+28.57%
The company develops technology for industrial wastewater plants and livestock facilities to extract nitrogen and manage ammonia control to meet regulatory discharge limits. This aligns with the provision of wastewater treatment systems and outsourced treatment services.
HNOI
2nd
HNO International
$8.15 Mn
0.08
+0.00%
-84.91%
The company provides engineering design and product development for aftertreatment components and technologies that lower exhaust pollutants for gasoline and diesel engines.
QWTR
Quest Water Global
$7.91 Mn
0.06
+0.00%
+20.00%
Quest Water Global designs, engineers, and manufactures water purification and desalination systems, specifically the AQUAtapâ„¢ and WEPSâ„¢ product lines. The company generates significant revenue from the outright sale of these systems to commercial bottled water operators, industrial water reuse facilities, and agricultural projects.
RAIN
Rain Enhancement Technologies Holdco
$6.91 Mn
0.85
-3.41%
-73.02%
The company develops and sells atmospheric enhancement technology specifically to improve water availability and enhance rainfall and snowfall for water-scarce regions. Its core business is the management and generation of water resources for governmental entities and commercial enterprises, which aligns with the water treatment and management scope of I-38.
GNOLF
2nd
Genoil
$6.11 Mn
0.01
+0.00%
+0.00%
The company develops and markets the Crystal Sea unit, which is a specialized system for separating oil from water in both offshore and onshore water treatment applications.
CETI
Cyber Enviro-Tech
$5.99 Mn
0.04
+0.00%
-80.00%
The company develops and commercializes water science technologies and proprietary filtration systems to treat contaminated industrial wastewater for clients in the oil and gas, meat packing, and municipal sectors.
RAKR
Rainmaker Worldwide
$5.00 Mn
0.01
+0.00%
-83.33%
Rainmaker Worldwide manufactures and sells systems for freshwater production and water purification, specifically its 'Water-to-Water' technology for purifying seawater and sewage. The company generates revenue from the sale and deployment of these water treatment systems to communities, industries, and governments.
DXST
Decent Holding
$4.04 Mn
2.50
-5.30%
-92.12%
The company's primary revenue comes from wastewater treatment (32.16%) and river water quality management (51.12%), providing services such as treatment process design, installation, and maintenance for industrial and municipal clients. It specifically utilizes nanofiltration membrane separation and microbial bacteria remediation technology to treat protein-rich wastewater and restore ecological rivers.
CDTG
CDT Environmental Technology Investment Holdings
$1.78 Mn
3.29
+17.50%
-78.03%
The company's core business is the design, manufacture, and installation of sewage treatment systems and the provision of sewage treatment services. It generates revenue from the sale of sewage treatment equipment and the operation and maintenance of decentralized rural sewage treatment plants.
IMTE
2nd
Integrated Media Technology
$1.72 Mn
0.50
+2.04%
-48.21%
The company manufactures and sells nano coated plates specifically for use in filters and air purifiers to capture particulate matter and improve indoor air quality.
BEEM
2nd
Beam Global
$0.02 Mn
1.15
+0.88%
-54.72%
The company produces the BeamWell water treatment system, which is specifically identified as a product in its portfolio.
LBGJ
2nd
Li Bang International
$0.00 Mn
3.46
+6.79%
-97.02%
The company manufactures and sells fume purification systems, which are environmental pollution-control equipment used to treat industrial emissions in commercial kitchens.
MDLK
2nd
ModuLink
$0.00 Mn
0.00
—
—
The company earns revenue from the sale and licensing of its air-to-water technology, which provides decentralized sustainable water sources to reduce reliance on municipal supplies.
OCLN
Originclear
$0.00 Mn
0.00
—
—
OriginClear's primary revenue comes from its Progressive Water Treatment unit, which designs, builds, and services custom water treatment systems for municipal, industrial, and commercial customers. The company specifically provides turnkey systems for pure water applications and managed wastewater treatment.
SENR
Strategic Environmental & Energy Resources
$0.00 Mn
0.00
—
-100.00%
The company's MV segment generates revenue by selling dry type scrubber solutions for hydrogen sulfide management in biogas, landfill gas, and petroleum processing. These are environmental and pollution-control systems sold to industrial and municipal customers, which aligns directly with the description of I-37.