Fuel Tech Awarded Air Pollution Control Orders Totaling $2.7 Million

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 the receipt of multiple air pollution control (APC) contracts from new and existing customers in the US. These awards support natural gas and coal-fired projects serving various end markets, and have an aggregate value of approximately $2.7 million.

An order was received in the US for two ULTRA systems to be installed on natural gas-fired package boiler units at a medical facility on the West Coast. 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. Deliveries are expected to be completed in the second quarter of 2023.

Three additional orders in the US were received for ULTRA systems. The first contract was for an ULTRA system deployed on a natural gas-fired turbine at a university on the West Coast. Delivery is expected in the first quarter of 2023. The second ULTRA order was for an industrial unit firing natural gas at a chemical production facility in the Southeast. This system is expected to be delivered in the second quarter of 2023. The third order was for an ULTRA system on a coal-fired unit in the Western US; this is the second ULTRA system at that site, with delivery expected in the third quarter of 2023.

The final contract was received from an existing customer for engineering services in advance of a potential Selective Non-Catalytic Reduction (SNCR) system for a coal-fired unit in the Midwest. 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. The potential SNCR system is being driven by the proposed EPA Good Neighbor Rule, which is expected to finalize in the first quarter of 2023. Engineering work is expected to be completed by the fourth quarter of 2022.