Fuel Tech, Inc. (NASDAQ:FTEK), a world leader in advanced
engineering solutions for the optimization of combustion systems
and emissions control in utility and industrial applications, today
announced the receipt of multiple air pollution control (APC)
contracts from customers in the US and Europe. These awards have an
aggregate value of approximately $4.3 million.
An order was received for two industrial units in the US which
will utilize Fuel Tech’s Selective Catalytic Reduction (SCR)
technology and aqueous ammonia feed systems. These units will be
installed at a site that is currently operating Fuel Tech SCR
systems. Equipment deliveries are scheduled for the third quarter
of 2018.
A second contract was received for two coal-fired boilers in
Europe where new aqueous ammonia feed systems will replace existing
equipment for units equipped with SCR technology. This project is
an add-on to a project from 2017. The Fuel Tech scope includes
engineering, equipment supply and installation. The units are
scheduled for completion in the third and fourth quarters of
2018.
Vincent J. Arnone, Chairman, President and Chief Executive
Officer, commented, “We are pleased to announce these orders for
customer locations with previous Fuel Tech installations. These
contracts demonstrate our ability to meet the on-going needs of our
customer base and are a testament to our ability to deliver quality
and performance. Our SCR technology and reagent feed systems
continue to gain prominence in our product portfolio. Our goal is
to provide reagent flexibility by customizing the best solution for
SCR applications using aqueous ammonia feed systems, urea-based
ULTRA® technology to generate ammonia on-site, or UDI™ Urea Direct
Injection systems. We continue to provide a wide range of
environmental and emission control solutions for our diverse global
customer base utilizing a variety of fuel sources.”
About Fuel Tech
Fuel Tech is a leading technology company engaged in the
worldwide development, commercialization and application of
state-of-the-art proprietary technologies for air pollution
control, process optimization, and advanced engineering services.
These technologies enable customers to produce both energy and
processed materials in a cost-effective and environmentally
sustainable manner.
The Company’s nitrogen oxide (NOx) reduction technologies
include advanced combustion modification techniques and
post-combustion NOx control approaches, including NOxOUT®, HERT™,
and Advanced SNCR systems, ASCR™ Advanced Selective Catalytic
Reduction systems, and I-NOx® Integrated NOx Reduction Systems,
which utilize various combinations of these systems, along UDI™
Urea Direct Injection system for SCR reagent supply, and the ULTRA®
process for safe ammonia generation. These technologies have
established Fuel Tech as a leader in NOx reduction, with
installations on over 900 units worldwide.
Fuel Tech’s technologies for particulate control include
Electrostatic Precipitator (ESP) products and services including
complete turnkey capability for ESP retrofits, with experience on
units up to 700 MW. Flue gas conditioning (FGC) systems include
treatment using sulfur trioxide (SO3) and ammonia (NH3) based
conditioning to improve the performance of ESPs by modifying the
properties of fly ash particles. Fuel Tech’s particulate control
technologies have been installed on more than 125 units
worldwide.
The Company’s FUEL CHEM® technology revolves around the unique
application of chemicals to improve the efficiency, reliability,
fuel flexibility, boiler heat rate, and environmental status of
combustion units by controlling slagging, fouling, corrosion,
opacity and improving boiler operations. The Company has experience
with this technology, in the form of a customizable FUEL CHEM
program, on over 110 units.
Fuel Tech also provides a range of services, including boiler
tuning and selective catalytic reduction (SCR) optimization
services. In addition, flow corrective devices and physical and
computational modeling services are available to optimize flue gas
distribution and mixing in both power plant and industrial
applications.
Many of Fuel Tech’s products and services rely heavily on the
Company’s exceptional Computational Fluid Dynamics modeling
capabilities, which are enhanced by internally developed, high-end
visualization software. These capabilities, coupled with the
Company’s innovative technologies and multi-disciplined team
approach, enable Fuel Tech to provide practical solutions to some
of our customers’ most challenging problems. For more information,
visit Fuel Tech’s web site at www.ftek.com.
NOTE REGARDING FORWARD-LOOKING
STATEMENTS
This press release contains “forward-looking statements” as
defined in Section 21E of the Securities Exchange Act of 1934, as
amended, which are made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995 and reflect
Fuel Tech’s current expectations regarding future growth, results
of operations, cash flows, performance and business prospects, and
opportunities, as well as assumptions made by, and information
currently available to, our management. Fuel Tech has tried to
identify forward-looking statements by using words such as
“anticipate,” “believe,” “plan,” “expect,” “estimate,” “intend,”
“will,” and similar expressions, but these words are not the
exclusive means of identifying forward-looking statements. These
statements are based on information currently available to Fuel
Tech and are subject to various risks, uncertainties, and other
factors, including, but not limited to, those discussed in Fuel
Tech’s Annual Report on Form 10-K in Item 1A under the caption
“Risk Factors,” and subsequent filings under the Securities
Exchange Act of 1934, as amended, which could cause Fuel Tech’s
actual growth, results of operations, financial condition, cash
flows, performance and business prospects and opportunities to
differ materially from those expressed in, or implied by, these
statements. Fuel Tech undertakes no obligation to update such
factors or to publicly announce the results of any of the
forward-looking statements contained herein to reflect future
events, developments, or changed circumstances or for any other
reason. Investors are cautioned that all forward-looking statements
involve risks and uncertainties, including those detailed in Fuel
Tech’s filings with the Securities and Exchange Commission.
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version on businesswire.com: http://www.businesswire.com/news/home/20180215005638/en/
Fuel Tech, Inc.Jim Pach, 630-845-4500Acting Principal Financial
Officerand ControllerorThe Equity Group Inc.Devin Sullivan,
212-836-9608Senior Vice President
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