Fuel Tech Awarded Air Pollution Control and Chemical Technologies Orders Totaling $2.5 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 air pollution control (APC) and Chemical Technologies orders from existing customers in South Africa and the Caribbean. These awards have an aggregate value of approximately $2.5 million.

An order was received from an existing customer for an industrial unit in South Africa using electrostatic precipitators (ESPs) to collect and recover particulate emissions. The contract was for two Dual Flue Gas Conditioning (FGC) systems to improve particulate capture from ESPs at an ore processing facility. Dual FGC technology uses sulfur trioxide and ammonia as conditioning reagents to improve the efficiency of ESPs, which are used to capture fly ash particulate from coal-fired boilers and particulate from industrial processes. FGC systems provide a low capital cost approach to improving particulate capture by maximizing the collection efficiency of new or existing ESPs. Dual FGC technology with ESPs can help units meet regulatory requirements for particulate and opacity levels, without the investment of significant additional capital, and are an attractive alternative to fabric filter technology. The project scope includes the overall FGC system engineering, supply of key FGC equipment, critical ESP components along with FGC startup support for the project. Fuel Tech is working with a local project partner in South Africa who is supplying the basic FGC equipment and providing the installation scope for the project. Equipment deliveries are expected to be completed in the third quarter of 2024, with project startup expected in the first quarter of 2025.

A contract was also received from an existing customer in the Caribbean for FUEL CHEM equipment using our proprietary TIFI Targeted In-Furnace Injection technology. The existing customer is restarting operations on a third heavy oil-fired unit at its chemical processing facility where our FUEL CHEM program uses boiler fireside additives to help reduce boiler slagging and corrosion. The chemical injection equipment is expected to be delivered in the fourth quarter of 2023.