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WARRENVILLE, Ill. , Nov. 6, 2023–(BUSINESS WIRE)–Fuel Tech, Inc. (NASDAQ: FTEK), a generation company that provides state-of-the-art engineering for combustion formula optimization, emissions control and water treatment (APC), today announced that it has been awarded several air pollution control (APC) contracts to new and existing consumers in the United States and South Africa. These awards help projects for a variety of end markets and have a total price tag of approximately $2. 6 million.
Won an order from an existing visitor in the U. S. The U. S. Department of Agriculture and Human Services (ULTRA) has joined the U. S. Department of Agriculture to install two ULTRA® systems in herbal fuel boilers at a university in the Southwest. Fuel Tech’s ULTRA process enables cost-effective on-site conversion of urea into ammonia for use. as a reagent when selective catalytic relief (SCR) is used to decrease NOx, eliminating hazards related to the transport, storage, and handling of anhydrous or aqueous ammonia. A second ULTRA contract from the same visitor is for a global fuel boiler that can be used at multiple visitor sites. The respective deliveries are expected to be completed in the first and second quarters of 2024.
A contract was won for an SCR formula in the Northeast for a natural gas-fueled combustion turbine application at a commercial conditioning plant. This order from a new visitor includes the full SCR formula, adding the reactor and ancillary equipment, as well as an ULTRA formula. To fuel urea reagent for SCR. Se equipment deliveries are expected to end in the second quarter of 2024.
A contract was obtained from a trade visitor in the Northeast to upgrade their NOxOUT non-catalytic selective reduction (SNCR) system. Fuel Tech’s SNCR generation is a proven solution for commercial combustion unit and application owners looking to meet more stringent NOx standards. Requirements. This existing visitor is retrofitting their waste-powered unit to meet long-term NOx relief requirements. Delivery of the update will be completed in the first quarter of 2024.
Won an order from an existing visitor for an electrostatic precipitator (ESP) upgrade on a giant coal-fired electric boiler in South Africa to reduce particulate emissions. This contract includes the engineering design for the overall upgrade of the ESP and key parts of the apparatus for the assignment, as well as commissioning and optimization services. Fuel Tech works with a local allocation partner in South Africa who supply the ESP parts and provide the installation perimeter for the allocation, which at the moment is a unit at the same strength. The plant that placed an order in 2022. La engineering phase will be completed by the end of the fourth quarter of 2023. Installation and commissioning are expected to be completed in the first quarter of 2024.
Vincent J. Arnone, President and Chief Executive Officer, commented, “We are pleased to announce the award of those contracts that constitute the continued relevance of our SNCR, ULTRA and SCR product lines in a variety of market segments. Our proven track record and commitment to our current consumers has resulted in a number of follow-on contracts around the world for projects with a wide diversity of fuels. “
About FuelTech
Fuel Tech develops and markets patented next-generation technologies for contaminant control, process optimization, water treatment and complex engineering installations. These technologies allow consumers to operate in a cost-effective and environmentally friendly manner. Fuel Tech is a leader in nitrogen oxide (NOx) relief and particulate matter control technologies and its responses have been installed in more than 1,300 utility, commercial and municipal equipment worldwide. The company’s FUEL CHEM® generation improves the efficiency, reliability, fuel flexibility, boiler heating rate and environmental condition of combustion equipment by controlling slag, scale, corrosion and haze. Array water treatment technologies come with DGI® dissolved fuel infusion systems that utilize a patented channel injector. to deliver responses of supersaturated oxygen and other fuel-water combinations to target procedural programs or environmental issues. This infusion procedure has various programs in the water and wastewater industries, including sanitation, aeration, biological remediation, and wastewater odor management. Many of Fuel Tech’s products and facilities rely heavily on the company’s exceptional virtual fluid dynamics modeling capabilities, which are enhanced by premium visualization software developed in-house. For more information, stop by Fuel Tech’s online page at www. ftek. com.
NOTE ON FORWARD-LOOKING STATEMENTS
This press release includes “forward-looking statements” as set forth in Section 21E of the Securities Exchange Act of 1934, as amended, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act. 1995 and reflect existing Fuel Tech expectations. related to long-term growth, effects of operations, money flows, business functionality and customers, and opportunities, as well as assumptions made through our control and existing data. Fuel Tech has attempted to identify forward-looking statements by using words such as “anticipate,” “believe,” “plan,” “expect,” “estimate,” “intend,” “intend” and similar expressions, but such words are not intended. the exclusive means of identifying forward-looking statements. These statements are based on data already available to Fuel Tech and are subject to hazards, uncertainties and other points, adding, among others, those discussed in Fuel Tech’s Annual Report on Form 10-K to “Item 1A under the title “Risk Factors” and upcoming filings under the Securities Exchange Act of 1934, as amended, that may cause Fuel Tech’s actual growth, effects of operations, monetary condition, money flows, functionality and customers and business opportunities differ materially from those expressed or implied by such statements. Fuel Tech assumes no legal responsibility to update such points or publicly announce the effects of such statements. Any forward-looking statements contained herein reflect events , advances or long-term adjustments in cases or for any other reason. Investors are cautioned that all forward-looking statements involve dangers and uncertainties, including those detailed in Fuel Tech’s filings with the Securities and Exchange Commission.
See the businesswire. com edition: https://www. businesswire. com/news/home/20231106526501/en/
Contacts
Vince ArnonePresident & CEO (630) 845-4500
Devin SullivanManaging DirectorThe Equity Group Inc. dsullivan@equityny. com