Warrenville, IL, March 11, 2024–(Business Wire)–Fuel Tech, Inc. (NASDAQ: FTEK)is a technology company that provides advanced engineering for the optimization of combustion systems, emissions control, and water treatment in practical and industrial applications, and today announced new and existing customers in Europe and the United States for Air Pollution Control (APC) and We announced an order for chemical technology. And the Caribbean. The total value of these awards is approximately $2.1 million.
We have received two orders from new European customers for selective catalytic reduction (SCR) technology that uses a catalyst and urea or ammonia as reagents to deliver high levels of nitrogen oxides (NO).X) reduction. The first order is for natural gas and process gas fired heaters used in chemical processing plants. The SCR system includes a catalyst and reactor and utilizes anhydrous ammonia already on site. Equipment delivery is scheduled for the fourth quarter of 2024. The second order is for a natural gas-fired boiler for a municipal solid waste facility. The SCR system includes a catalyst and reactor and an ammonia water reagent delivery system. The range also includes catalysts to reduce carbon monoxide emissions from customer processes. Equipment delivery is expected to be completed in the first quarter of 2025.
Obtained FUEL CHEM contracts from existing customers in the Caribbean® Device using unique TIFI® Targeted in-furnace injection technology. An existing customer is restarting his fourth oil-fired unit at a metal processing facility. There, our FUEL CHEM program uses boiler furnace side additives to reduce boiler slag and corrosion. The chemical injection equipment is expected to be delivered in the second quarter of 2024.
We have received a final contract from an existing customer in the United States for an upgrade to their existing selective noncatalytic reduction (SNCR) system for a coal-fired power plant in the Midwest. Fuel Tech's SNCR technology is a proven solution for utility and industrial combustion equipment owners seeking compliance with more stringent NO regulations.X Control requirements. SNCR upgrades are driven by the EPA's Good Neighbor Rule, which requires existing NO-containing combustion units.X You can run your abatement equipment more efficiently throughout the summer ozone season. Handover is expected to be completed by the end of the second quarter of 2024.
“We are pleased to announce these contract awards, which represent continued growth leveraging our broad range of product solutions on a global scale,” said Vincent J. Arnone, President and CEO. Our long-standing customers in the Caribbean continue to place their trust in us.” Our expertise supports your ongoing operations.X The reduction requirements generated by the EPA Good Neighbor Rule are likely to create many opportunities for both SNCR and SCR technologies in the coming years. Fuel Tech's wide range of technologies continues to deliver value in support of a wide range of industrial and utility needs. ”
About Fueltech
Fuel Tech develops and commercializes cutting-edge proprietary technologies for air pollution control, process optimization, water treatment, and advanced engineering services. These technologies enable our customers to operate in a cost-effective and environmentally sustainable manner. Fuel Tech is the leader in Nitrogen Oxides (NO).X) reduction and particulate control technologies and solutions have been installed in more than 1,300 public facilities, industrial facilities, and municipalities around the world.Our fuel chemistry® This technology improves efficiency, reliability, fuel flexibility, boiler heat rate, and combustion unit environmental conditions by controlling slag, fouling, corrosion, and opacity. Water treatment technology including DGI® A dissolved gas injection system that utilizes a patented channel injector to deliver supersaturated oxygen solutions and other gas and water combinations to targeted process applications and environmental problems. This injection process is used for a variety of applications in the water and wastewater industry, including purification, aeration, biological treatment, and wastewater odor control. Many of Fuel Tech's products and services rely heavily on the company's superior computational fluid dynamics modeling capabilities, which are enhanced by high-end visualization software developed in-house. For more information, please visit his website at Fuel Tech at www.ftek.com.
Cautionary 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, and pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. was created and reflects Fuel Tech's current expectations. Relating to future growth, performance, cash flows, performance and business prospects, opportunities, and assumptions made by our management and information currently available. Fuel Tech uses words such as “anticipates,” “believes,” “plans,” “expects,” “estimates,” “intends,” “schedules,” and similar expressions to refer to Although we have attempted to identify forward-looking statements, these words are not the only 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. This includes, but is not limited to, what is described in Item 1A of Fuel Tech's Annual Report on Form 10-K with the caption “''. Risk Factors,” and subsequent filings under the Securities Exchange Act of 1934, as amended, may cause Fuel Tech's actual growth, results of operations, financial condition, cash flows, operating results and business prospects and opportunities to be subject to the following: may differ significantly from that shown. or implied by these statements. Fuel Tech undertakes no obligation to update such factors or to publicly reflect the results of any forward-looking statements contained herein to reflect future events, developments, changes in circumstances or for any other reason. not. Investors are cautioned that all forward-looking statements, including those detailed in Fuel Tech's filings with the Securities and Exchange Commission, involve risks and uncertainties.
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contact address
Vince Arnone
Representative Director and President
(630) 845-4500
Devin Sullivan
President
The Equity Group Co., Ltd.
dsullivan@equityny.com
