2025 marked another year of strong growth for Gradiant, extending the company’s consistent record of year-over-year revenue growth since its founding. As water management becomes increasingly critical to both business performance and environmental sustainability, demand for advanced water solutions continued to accelerate. Gradiant responded by deploying proven technologies in the field, introducing new solutions to the market, and expanding across regions and industries with blue-chip customers. This year, we delivered on all of the above and did so profitably.

Strong fundamentals

Gradiant increased revenue by over 50% versus 2024, while securing over $500 million in new orders ensuring continued growth into 2026. Profitability increased 4X, reflecting disciplined execution and operating leverage. Growth was diversified across industries, regions, and applications.

Revenue remained geographically balanced across mature and high-growth emerging markets. About one-third of the business came from the United States, one-quarter from Europe, with the remainder from the Middle East and Indo-Pacific. This diversified mix supports Gradiant’s ability to serve global customers consistently across regions.

The company strengthened its balance sheet by closing a $50 million credit facility with HSBC, backed by receivables from blue-chip customers. Total credit capacity now exceeds $100 million, supporting execution of current and future projects. This milestone reflects Gradiant’s capital maturity and the strength of its business model and customer base.

R&D remains central to Gradiant’s DNA. The feedback loop between the field and the lab, continues to make our technologies more efficient and cost-effective. Driven by customer and market demands, Gradiant continues to bring new science and engineering to fulfil unmet water and resource recovery challenges and expand its technology portfolio.

Innovation and execution

Gradiant secured a major contract to design and build an ultrapure water facility for a major semiconductor manufacturer in Dresden, Germany. We also partnered with a major international airport to deploy our ForeverGone technology to address PFAS contamination from firefighting foam.

Amid rising concern over water quality and human health, Gradiant set new benchmarks in PFAS remediation. ForeverGone eliminates PFAS entirely, unlike conventional approaches that merely concentrate contamination into hazardous waste. Our solution avoids costly, energy-intensive, and environmentally risky disposal methods such as incineration and landfilling.

In Thailand, Archroma successfully deployed our CFRO driven zero liquid discharge (ZLD) solution, achieving up to 95% wastewater recycling while extracting valuable minerals for industrial reuse.

Execution continued with full force on a large wastewater treatment facility for a U.S. semiconductor manufacturer, with the facility to begin operations in 2026.

Deploying technology across industries

Gradiant advanced major projects across the world’s most water-intensive industries. From hyperscale data centers to advanced manufacturing, customers turned to Gradiant to solve their most important water challenges.

The data center business expanded with two new contracts to design and deploy sustainable water systems in the United States and Indo-Pacific.

The lithium business, alkaLi, announced a fully integrated lithium production facility using oilfield produced water. The facility, located in the Marcellus Shale Formation in Pennsylvania, is expected to reach full commercial operations within the next year.

Industry recognition

In 2025, Gradiant received mainstream recognition. The company participated at SXSW, contributing to discussions on industrial sustainability, and was named one of Fast Company’s Most Innovative Companies of 2025. Gradiant also won gold at the Edison Awards for its ForeverGone PFAS destruction technology.

Gradiant’s leadership team spoke at industry forums including the GWI Global Water Summit, the IDRA Reykjavik Summit on Water and Climate Change, and the Fastmarkets Lithium Supply Conference. The company also participated in major global events such as COP 30, the Bloomberg New Economy Forum, Abu Dhabi Finance Week, WEFTEC, and Aquatech Amsterdam.

Looking ahead

As Gradiant moves into 2026, we do so with clear visibility, a growing backlog, and expanding global reach. The work ahead is substantial, but so is the foundation built over the past several years. Building something truly good and great is rarely straightforward. It often requires unconventional, sometimes “crazy,” approaches, along with steadfast teamwork, discipline, and unflinching belief.

Today, with proven technologies, a strengthening reputation and execution track record, and a well-established feedback loop between the field and the lab, Gradiant is well positioned to continue advancing sustainable water solutions that power global industry. Even as we operate profitably and at scale, we do so with a bold mindset and entrepreneurial energy, learning from the past without relying on it, and looking forward to our future and our purpose. To ensure water for generations to come.

Sincerely,

Anurag & Prakash