Fuel Tech Awarded Air Pollution Control Orders Totaling $7.7 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 South America, China and the US. These awards have an aggregate value of approximately $7.7 million.
The order in South America is from a power company in Chile for a turnkey installation of Low NOx Burners (LNBs), Over-Fire Air (OFA) system and mill upgrades on a coal-fired unit. Equipment deliveries are scheduled to commence during the fourth quarter of 2015, with project completion planned for the second quarter of 2016. Fuel Tech’s technologies are a cost-effective way to reduce nitrogen oxide (NOx) emissions and solve combustion problems in coal, gas or oil combustion systems. Fuel Tech’s OFA systems reduce NOx formation by diverting air from the burner zone to the upper furnace for enhanced combustion staging. Low NOx Burners limit the formation of thermal NOx and control how the fuel bound nitrogen is released. The mill upgrades will help improve the existing coal mill load throughput.
In China, an order was 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 third quarter of 2015.
In the US, an order was received for additional ESP equipment for a previously announced project in the Southeast. Delivery is scheduled for the fourth quarter of 2015.
Vincent J. Arnone, President and Chief Executive Officer, commented, “We have consciously expanded our international presence to achieve both growth and regulatory diversification in our air pollution control business. This contract award represents our third LNB project in Chile and demonstrates our global reach and combustion capabilities. With our industry-leading suite of APC products and services, we believe we are well positioned to compete for additional opportunities in the domestic and international markets.”
Mr. Arnone continued, “Our ULTRA technology simplifies on-site ammonia generation for SCR applications of all types. We are pleased to see that our APC product line continues to play a vital role in assisting China in its endeavor to reduce harmful air pollutants.”
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