Fuel Tech, Inc. (NASDAQ: FTEK), a technology company providing advanced
engineering solutions for the optimization of combustion systems,
emissions control and water treatment in utility and industrial
applications, today announced the receipt of multiple air pollution
control (APC) contracts from customers in the US and China. These awards
have an aggregate value of approximately $2.2 million.
An order was received in the US for an ULTRA® system that
will be installed on a natural gas-fired unit in the West being
retrofitted with Selective Catalytic Reduction (SCR) technology. Fuel
Tech’s ULTRA process provides for the safe and cost-effective on-site
conversion of urea to ammonia for use as a reagent where SCR is used to
reduce nitrogen oxide (NOx), eliminating the hazards
associated with the transport, storage and handling of anhydrous or
aqueous ammonia. A second contract was received for a gas fired utility
unit in the West which will utilize Fuel Tech’s UDI™ Urea Direct
Injection to replace the existing reagent feed system for an existing
SCR system. Respective equipment deliveries are scheduled for the first
quarter of 2019 and the fourth quarter of 2018. Another order was
received for an engineering study that has been completed to evaluate
particulate control technologies from a utility in the Pacific Rim.
Two Chinese orders were received for ULTRA systems that will be
installed on industrial units firing municipal solid waste being
retrofitted with SCR technology. Delivery of these systems will be
completed in the third quarter of 2018. Two additional contracts were
received for NOxOUT® Selective Non-Catalytic
Reduction (SNCR) systems for units firing municipal solid waste.
Deliveries for these systems will be completed by the third quarter of
2018. Fuel Tech’s SNCR technology is a proven solution as industrial
combustion unit owners look to comply with more stringent NOx
control requirements.
Vincent J. Arnone, Chairman, President and Chief Executive Officer,
commented, “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 goal is to provide reagent flexibility by
customizing the best solution for SCR applications using urea-based ULTRA®
technology, UDI™ Urea Direct Injection systems, or aqueous ammonia feed
systems. We continue to provide a wide range of environmental and
emissions control solutions to help our diverse global customer base
meet their compliance needs.”
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, water treatment and advanced engineering services. These
technologies enable customers to produce energy and processed materials,
and deliver water treatment solutions 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.
Water treatment technologies include DGI™ Dissolved Gas Infusion Systems
which utilize a patented nozzle to provide a competitive advantage over
conventional utility and industrial aeration. An innovative alternative
to current aeration technology among other applications, DGI systems can
deliver supersaturated oxygen solutions and other gas-water combinations
to target process applications or environmental issues. This infusion
process has a variety of applications in the water and wastewater
industries, including remediation, treatment, biological activity and
wastewater odor management. DGI technology benefits include reduced
energy consumption, installation costs, and operating costs, while
improving treatment performance.
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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