Fuel Tech Announces FUEL CHEM Demonstration Orders From Two New Industrial Power Customers

Fuel Tech, Inc. (NASDAQ: FTEK), a technology company providing advanced engineering solutions for the optimization of combustion systems, emissions control and water treatment in utility and industrial applications, today announced two FUEL CHEM demonstration orders using the Company’s proprietary TIFI Bio (Targeted In-Furnace Injection) technology.

The demonstrations are for new domestic industrial renewable power customers that utilize biomass as the source of fuel. One program will be conducted on two small biomass-fired boilers at one plant site, while the second order is for a small biomass-fired unit at another site. The goals of the demonstrations are to improve boiler availability, reliability and heat rate, and reduce greenhouse gas emissions. Chemical injection for all three units is scheduled to commence during the second quarter of 2020. Successful demonstrations at both plants would lead to on-going commercial programs commencing in the third quarter of 2020, with such commercial programs generating estimated annual revenue of $500,000 to $750,000 per site, when the units at the site are operational and utilizing the technology on a continual basis throughout the year.

Vincent J. Arnone, Chairman, President and Chief Executive Officer, commented, “We are pleased to announce these demonstrations. Our TIFI technology has been successfully used on a wide range of boiler types firing different fuels. Our patented TIFI Bio approach uses multiple chemicals working together, and offers significant operational improvements including reduced downtime, lower corrosion rates, increased time between cleaning cycles, and the opportunity to fire a wider variety of biomass waste fuels. TIFI Bio has been successfully demonstrated on several units in the US and Europe, and biomass as a renewable fuel source continues to provide opportunities. For the current demonstrations, we have already conducted Computational Fluid Dynamic modeling studies on both units, which uses our proprietary modeling to guide our design of the injection strategy.”

About Fuel Tech

Fuel Tech develops and commercializes state-of-the-art proprietary technologies for air pollution control, process optimization, water treatment, and advanced engineering services. These technologies enable customers to operate in a cost-effective and environmentally sustainable manner. Fuel Tech is a leader in nitrogen oxide (NO_x) reduction and particulate control technologies and its solutions have been in installed on over 1,200 utility, industrial and municipal units worldwide. The Company’s FUEL CHEM technology improves the efficiency, reliability, fuel flexibility, boiler heat rate, and environmental status of combustion units by controlling slagging, fouling, corrosion and opacity. Water treatment technologies include DGI Dissolved Gas Infusion Systems which utilize a patented nozzle to deliver supersaturated oxygen solutions and other gas-water combinations to target process applications or environmental issues. This infusion process has a variety of applications in the water and wastewater industries, including remediation, aeration, biological treatment and wastewater odor management. 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. For more information, visit Fuel Tech’s web site at www.ftek.com.