Fuel Tech Awarded Air Pollution Control Orders Totaling $2.3 Million
March 14 2017 - 04:21PM
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 Europe. These awards have an aggregate
value of approximately $2.3 million.
An order was received for a refinery unit in Italy which will
utilize Fuel Tech’s Selective Catalytic Reduction (SCR) and ULTRA®
technologies. 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 SCR is used to reduce NOx, eliminating the hazards
associated with the transport, storage and handling of anhydrous or
aqueous ammonia. Equipment delivery is scheduled for the fourth
quarter of 2017.
A second contract was received for a coal-fired boiler in Europe
where a new aqueous ammonia feed system will replace existing
equipment for a unit equipped with SCR technology. The Fuel Tech
scope includes engineering, equipment supply and installation. The
project is scheduled for completion in the fourth quarter of
2017.
Vincent J. Arnone, President and Chief Executive Officer,
commented, “We have announced more than $17.0 million in new orders
thus far in 2017, which includes approximately $5 million of new
orders from European customers. These contracts demonstrate our
ability to provide a wide range of environmental and emission
control solutions for our diverse global customer base utilizing a
variety of fuel sources.”
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.
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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170314006391/en/
Fuel Tech, Inc.David S. Collins, 630-845-4500Chief Financial
OfficerorThe Equity Group Inc.Devin Sullivan, 212-836-9608Senior
Vice President
Fuel Tech (NASDAQ:FTEK)
Historical Stock Chart
From Feb 2024 to Mar 2024
Fuel Tech (NASDAQ:FTEK)
Historical Stock Chart
From Mar 2023 to Mar 2024