Fuel Tech Awarded Air Pollution Control Orders Totaling $2.0 Million
By Business Wire News
By Business Wire News
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, Europe and China. These awards have an aggregate value of approximately $2.0 million.
In China, four orders were received for multiple ULTRA™ systems that will be installed on utility coal-fired units being retrofitted with NOx reduction 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 in the selective catalytic reduction (SCR) of NOx, eliminating the hazards associated with the transport, storage and handling of anhydrous or aqueous ammonia. Equipment deliveries are expected to occur in the fourth quarter of 2015 and first quarter of 2016.
In Europe, a commercial contract for Fuel Tech’s NOxOUT® Selective Non-Catalytic Reduction (SNCR) technology was received for equipment and installation on a unit burning municipal solid waste. Installation of the system is scheduled for the first quarter of 2016.
Four contracts were received in the US, the first of which was for an Electrostatic Precipitator (ESP) upgrade to reduce particulate emissions using ESP equipment and optimization services for an industrial boiler in the West, with delivery scheduled for the fourth quarter of 2015. In addition, two service contracts for modeling were received for new Selective Catalytic Reduction (SCR) systems, one on an industrial gas-fired boiler in the US and the other for a utility boiler in the Pacific Rim. A service contract for site optimization services was received for an existing customer with an SNCR system. These service contracts are scheduled to be completed in the fourth quarter of 2015.
Vincent J. Arnone, President and Chief Executive Officer of Fuel Tech, commented, “Including these latest contracts, we have now announced nearly $30 million in new APC project awards in 2015 for customers in the US, China, Latin America, and Europe for our ESP, SNCR, ASNCR, SCR, Combustion and ULTRA technology solutions. These orders reflect the breadth and depth of our global presence and portfolio of advanced pollution control technologies. While the domestic market will likely remain challenging until there is further clarity on the regulatory front, we continue to pursue utility and industrial customers as they look to comply with federal regulations, consent decrees, permitting issues related to expansion activities, and Regional Haze requirements. We remain optimistic about developing opportunities outside of the US, including Europe, China and Latin America, where our solutions can assist both potential new clients and Fuel Tech’s existing installed client base.”
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 with 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 the fly ash particle. 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.
This press release may contain statements of a forward-looking nature regarding future events.These statements are only predictions and actual events may differ materially.Please refer to documents that Fuel Tech files from time to time with the Securities and Exchange Commission for a discussion of certain factors that could cause actual results to differ materially from those contained in the forward-looking statements.
Fuel Tech, Inc.
David S. Collins, 630-845-4500
Chief Financial Officer
The Equity Group Inc.
Devin Sullivan, 212-836-9608
Senior Vice President