Fuel Tech Awarded Air Pollution Control Orders Totaling $2.6 Million

Fuel Tech, Inc. (NASDAQ: FTEK), a technology company providing advanced engineering 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 new and existing customers in the US and South Africa. These awards support projects serving various end markets and have an aggregate value of approximately $2.6 million.

An order was received from an existing customer in the US for two ULTRA systems to be installed on natural gas-fired package boilers at a university in the Southwest. 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 Selective Catalytic Reduction (SCR) is used to reduce NO_x, eliminating the hazards associated with the transport, storage and handling of anhydrous or aqueous ammonia. A second ULTRA contract from this same customer is for a gas-fired package boiler which can be used at multiple customer locations. Respective deliveries are due to be completed in the first and second quarters of 2024.

A contract for an SCR system in the Northeast was received for a natural gas fired combustion turbine application at an industrial packaging plant. This order from a new customer includes the complete SCR system, including the reactor and ancillary equipment along with an ULTRA system to feed the urea reagent for the SCR. Equipment deliveries are expected to be completed in the second quarter of 2024.

A contract was received from an industrial customer in the Northeast to upgrade its NO_xOUT Selective Non-Catalytic Reduction (SNCR) system. Fuel Tech’s SNCR technology is a proven solution for utility and industrial combustion unit owners looking to comply with more stringent NO_x control requirements. This existing customer is upgrading its waste-fired unit to comply with future NOx reduction requirements. Delivery of the upgrade will be completed in the first quarter of 2024.

An order was received from an existing customer for an Electrostatic Precipitator (ESP) upgrade on a large coal-fired utility boiler in South Africa to reduce particulate emissions. This contract includes the engineering design for the overall ESP upgrade and key equipment components for the project, along with startup and optimization services. Fuel Tech is working with a local project partner in South Africa who is supplying the ESP components and providing the installation scope for the project, which is for a second unit at the same power station that issued an order in 2022. The engineering phase will be completed by the end of the fourth quarter of 2023. Installation and startup are scheduled for completion in the first quarter of 2024.