Fuel Tech Awarded Air Pollution Control Orders Totaling $3.3 Million
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 the receipt of four air pollution control (APC) contracts in China, along with multiple engineering and modeling projects in the US. These awards and projects have an aggregate value of approximately $3.3 million.
The first two awards are for ULTRA™ systems from existing customers in China for large-sized coal-fired units that are being retrofitted with NOx reduction 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 in the selective catalytic reduction of NOx, eliminating the hazards associated with the transport, storage and handling of anhydrous or aqueous ammonia.
A contract was also received from an existing industrial customer in China for Fuel Tech's Selective Non-Catalytic Reduction (SNCR) systems on multiple small coal-fired boilers. In addition, an SNCR system award was received from a new Chinese utility customer for a small coal-fired boiler. Equipment deliveries for all four projects are expected to occur in the third quarter of this year.
Douglas G. Bailey, Chairman, President and Chief Executive Officer, commented, "2012 was a record year for international bookings at Fuel Tech, due in large part to significant growth in China. We are, therefore, pleased to see the continuing adoption of Fuel Tech's proprietary emissions control solutions by Chinese utility and industrial customers. We are experiencing an increasing level of bid requests throughout China. As more SCR and SNCR systems are installed to comply with NOx reduction requirements of the nation's 12th Five-Year Plan, we anticipate an expanding market opportunity and additional orders for our proven technologies."
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 Asia Pacific North America China Illinois
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