WARRENVILLE, Ill. --(BUSINESS WIRE)--
Fuel Tech, Inc. (NASDAQ: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 multiple air pollution control (APC) contracts from customers in China and the US. These awards have an aggregate value of approximately $2.1 million.
In China, Fuel Tech received an award for a NOxOUT® Selective Non-Catalytic Reduction (SNCR) system for a coal-fired utility boiler. Our SNCR technology is a proven viable solution as combustion unit owners look to comply with more stringent NOx control requirements mandated by China. Equipment delivery is expected to occur during the fourth quarter of this year.
The Company received additional orders in China for multiple ULTRA™ systems that will be installed on a variety of utility units firing coal, natural gas and solid waste 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 where Selective Catalytic Reduction (SCR) is used to reduce NOx, eliminating the hazards associated with the transport, storage and handling of anhydrous or aqueous ammonia. Deliveries for these projects are scheduled for the fourth quarter of this year.
In the US, a contract was received for a unit converting from coal to natural gas as its primary fuel, and where upgrades are required to meet environmental compliance. Fuel Tech’s scope includes engineering, SNCR and SCR system equipment improvements and optimization to reduce NOx emissions. Equipment deliveries are expected in the fourth quarter of this year and first quarter of 2017. An order was also received for a design study and engineering phase for SCR systems to be installed on multiple gas-fired units. Engineering is expected to be completed in the first quarter of 2017. In addition, a change order was received for additional equipment for a gas fired-unit utilizing Fuel Tech’s SCR technology.
Vincent J. Arnone, President and Chief Executive Officer, commented, “These orders continue to demonstrate our ability to provide diverse and cost-effective technology solutions on a global basis. Our SCR technology opportunities continue to grow as the use of natural gas is expanding for both power generation and industrial applications, while our ULTRA technology simplifies on-site ammonia generation for SCR applications of all types.”
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 and post-combustion NOx control approaches, including NOxOUT®, HERT™, and Advanced SNCR systems, ASCR™ Advanced Selective Catalytic Reduction systems, and I-NOx™ Integrated NOx Reduction Systems, which utilize various combinations of these systems, along with the ULTRA™ process for safe ammonia generation. These technologies have established Fuel Tech as a leader in NOx reduction, with installations on over 900 units worldwide.
Fuel Tech’s technologies for particulate control include Electrostatic Precipitator (ESP) products and services including complete turnkey capability for ESP retrofits, with experience on units up to 700 MW. Flue gas conditioning (FGC) systems include treatment using sulfur trioxide (SO3) and ammonia (NH3) based conditioning to improve the performance of ESPs by modifying the properties of fly ash particles. Fuel Tech’s particulate control technologies have been installed on more than 125 units worldwide.
The Company’s FUEL CHEM® technology revolves around the unique application of chemicals to improve the efficiency, reliability, fuel flexibility, boiler heat rate, and environmental status of combustion units by controlling slagging, fouling, corrosion, opacity and improving boiler operations. The Company has experience with this technology, in the form of a customizable FUEL CHEM program, on over 110 units.
Fuel Tech also provides a range of services, including boiler tuning and selective catalytic reduction (SCR) optimization services. 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.
Notice of Correction to July 22, 2016 Fuel Tech Press Release
In a press release issued by Fuel Tech on July 22, 2016, Fuel Tech announced that a SNCR system being supplied by Fuel Tech for a project in the Middle East would be installed on a cement kiln. That SNCR system will be installed on a boiler at a cement plant. Fuel Tech has already posted the corrected version of the July 22, 2016 press release on Fuel Tech’s website.
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.
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