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Fuel Tech Awarded Air Pollution Control Orders Totaling $2.6 Million

1. Fuel Tech secures $2.6 million in air pollution control orders. 2. Orders include a Japanese ULTRA® system for a gas-fired plant. 3. Completion for US engineering project set for Q2 2025. 4. CEO states ongoing pursuit of $4-$5 million in contracts. 5. Efficient NOx control technologies reinforce Fuel Tech’s market position.

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Why Bullish?

Recent contract wins reflect Fuel Tech's strong demand in emission control, similar to past trends where new contracts led to stock appreciation.

How important is it?

The announcement highlights significant revenue generation potential and continued contract flow, essential for investor confidence.

Why Short Term?

Quarterly reporting and rapid project timelines may influence stock price in the near future, as demonstrated in prior contract announcements leading to short-term increases.

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GEEMEABB
March 24, 2025 08:01 ET  | Source: Fuel Tech, Inc WARRENVILLE, Ill., March 24, 2025 (GLOBE NEWSWIRE) -- Fuel Tech, Inc. (NASDAQ: FTEK), a technology company using advanced engineering processes to provide emissions control systems and water treatment technologies in utility and industrial applications, today announced the receipt of air pollution control (APC) orders from existing customers in the US and Japan. These orders have an aggregate value of approximately $2.6 million.   An order from Japan was received for an ULTRA® system that will be installed on a natural gas-fired Combined Cycle utility plant in the Pacific Rim 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. This will be the fourth on-site unit and a follow-on order from a 2017 contract. The equipment will again use our ULTRA-EX™ approach, which utilizes high temperature exhaust gas from the combustion turbine in the ULTRA process. The extracted flue gas is used to thermally decompose the concentrated urea solution into ammonia in the ULTRA chamber. ULTRA-EX increases the energy efficiency of the overall process and lowers the external heat input required to generate the ammonia which is fed to the SCR. Engineering is expected to be completed in the second quarter of 2025, with equipment delivery scheduled sometime in the first quarter of 2027. A domestic order was also received for advanced engineering from an existing municipal waste unit customer in the Northeast as a first step towards an Advanced Selective Non-Catalytic Reduction (ASNCR) system, which is a proven solution for industrial combustion unit owners looking to comply with more stringent NOx control requirements. Work is scheduled for completion in the second quarter of 2025. Vincent J. Arnone, President and Chief Executive Officer, commented, “We are pleased to announce these contract awards to support the needs of a wide range of utility and industrial customers. These orders reflect a portion of the $4 to 5 million in near-term contract wins that we were expecting to close by early in the second quarter of this year. We are continuing to actively pursue additional APC contracts that are likely to be awarded early in the second quarter of 2025.”   About Fuel Tech Fuel Tech develops and commercializes state-of-the-art proprietary technologies for air pollution control, process optimization, water treatment, and advanced engineering services. These technologies enable customers to operate in a cost-effective and environmentally sustainable manner. Fuel Tech is a leader in nitrogen oxide (NOx) reduction and particulate control technologies and its solutions have been installed on over 1,300 utility, industrial and municipal units worldwide. The Company’s FUEL CHEM® technology improves the efficiency, reliability, fuel flexibility, boiler heat rate, and environmental status of combustion units by controlling slagging, fouling, corrosion and opacity. Water treatment technologies include DGI® Dissolved Gas Infusion Systems which utilize a patented saturator and a patent-pending channel injector to 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, aeration, biological treatment and wastewater odor management. 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. 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, contracts being awarded to competitors offering different or lower-priced technologies, projects being suspended, delayed or cancelled and other risks 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. CONTACT:Vince ArnoneDevin Sullivan President and Chief Executive OfficerManaging Director   (630) 845-4500The Equity Group Inc.  dsullivan@equityny.com 

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