Robert T. Smith and Dennis L. Zeitler Elected to Fuel Tech's Board of Directors
WARRENVILLE, Ill.--(BUSINESS WIRE)-- Fuel Tech, Inc. (NAS: FTEK) , a world leader in advanced engineering solutions for the optimization of combustion systems and emissions control in utility and industrial applications, today announced that Robert T. Smith and Dennis L. Zeitler were elected to the Board of Directors at Fuel Tech's Annual Meeting of Stockholders held on May 23, 2013. With the additions of Mr. Smith and Mr. Zeitler, Fuel Tech's Board of Directors stands at nine members, eight of whom satisfy the independence requirements under NASD Rule 5605(a)(2).
Mr. Smith, 66, brings more than 40 years of management experience to Fuel Tech's Board of Directors, including working with growing companies that possess an international presence. Mr. Smith has a track record of significantly increasing sales and profits for the operations he has managed, as well as experience at the board level with strategic definition and direction of businesses. He was most recently Chief Executive Officer of Atlas Pacific Engineering Company, a private technical equipment and services company. From 2006 to 2008 Mr. Smith was a private equity consultant and, from 2003 to 2005, he was President of the Industrial Automation Systems segment of Intermec, Inc. Mr. Smith also held a variety of senior leadership positions with Valspar Corporation (1995-2001) and FMC Corporation (1984-1994).
Mr. Zeitler, 64, is Senior Vice President, Chief Financial Officer and Treasurer of Mine Safety Appliances Company (MSA), a global leader in the development, manufacture and supply of products that protect people's health and safety. During his tenure at MSA since joining the company in 1977, Mr. Zeitler has helped drive international expansion and dramatically higher sales. In the process, he has developed a deep understanding of all aspects of global finance for a publicly traded company, including international business development.
Douglas G. Bailey, Chairman, President and Chief Executive Officer, commented, "We warmly welcome Bob and Dennis to the Board. These seasoned and tested senior executives have helped lead the global growth of their respective companies. We expect to benefit from their experience and counsel as we address the growing, long-term demand for Fuel Tech's capital-efficient, cost-effective emissions control and boiler optimization solutions."
Charles W. Grinnell, a member of Fuel Tech's Board of Directors since 1989, retires as a director as of the 2013 Annual Meeting of Stockholders.
Mr. Bailey remarked, "Charlie's affiliation with Fuel Tech spans 27 years as both a director and as a member of our senior management team beginning as Vice President, General Counsel and Corporate Secretary in 1986. His years of dedicated and influential service helped establish Fuel Tech as a global leader in its industry. On behalf of the entire organization and our stockholders, I wish to thank Charlie for his many invaluable contributions and, on this occasion of his retirement, express our most grateful appreciation for his many years of continuous service."
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 - such as Low NOx Burners and Over-Fire Air systems - and post-combustion NOx control approaches, including NOxOUT® and HERT™ SNCR systems as well as systems that incorporate ASCR™ (Advanced Selective Catalytic Reduction), NOxOUT CASCADE®,ULTRA™ and NOxOUT-SCR® processes. These technologies have established Fuel Tech as a leader in NOx reduction, with installations on over 700 units worldwide, where coal, fuel oil, natural gas, municipal waste, biomass and other fuels are utilized.
The Company's FUEL CHEM® technology revolves around the unique application of chemicals to improve the efficiency, reliability, fuel flexibility and environmental status of combustion units by controlling slagging, fouling, corrosion, opacity and operational issues associated with sulfur trioxide, ammonium bisulfate, particulate matter (PM2.5), carbon dioxide and NOx. The Company has experience with this technology, in the form of a customizable FUEL CHEM program, on over 110 combustion units burning a wide variety of fuels including coal, heavy oil, biomass, and municipal waste.
Fuel Tech also provides a range of combustion optimization services, including airflow testing, coal flow testing and boiler tuning, as well as services to help optimize selective catalytic reduction system performance, including catalyst management services and ammonia injection grid tuning. 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
KEYWORDS: United States North America Illinois
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