Includes Second Contract in Data Center
Power Market
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 customers in the US and
China. These awards have an aggregate value of approximately $15.8
million.
Foremost among these new awards is a follow-on order at a
domestic data center that once again involves utilizing Fuel Tech’s
Selective Catalytic Reduction (SCR) and urea reagent technologies
to reduce nitrogen oxide (NOx) emissions where natural gas is used
for power generation.
“We are excited to increase our presence in the natural gas
power markets,” said Vincent J. Arnone, Chairman, President and
Chief Executive Officer. “SCR technology continues to gain a
stronger position in our technology portfolio, and this new award
highlights the flexibility and adaptability of Fuel Tech’s
emissions control solutions portfolio in a time when the use of
natural gas as a fuel source is rapidly evolving.”
The domestic data center project includes multiple SCR systems
where natural gas is used for power generation. The scope includes
Fuel Tech’s SCR and UDITM Urea Direct Injection technologies, along
with ancillary systems to reduce NOx emissions from backup power
sources. Fuel Tech’s UDI process, similar to our ULTRA® technology,
provides the safe use of urea reagent where SCR is used to reduce
NOx, eliminating the hazards associated with the transport, storage
and handling of anhydrous or aqueous ammonia. Equipment deliveries
are expected to be completed in the second quarter of 2019.
Mr. Arnone continued, “Industry research estimates that the
global data center power market is expected to expand at a compound
annual growth rate nearly 13% through 2021, and we view the
reliability and availability requirements of the SCR and UDI
systems as critical to customer needs. We have a history of
industrial SCR projects using UDI technology in the steel and
chemical markets and have recently deployed UDI system applications
in China. We view UDI as a complement to our established ULTRA
technology. UDI can be a good fit for smaller industrial systems,
including those with multiple SCR reactors. Through our ongoing
global business developments efforts, we are well-positioned to
pursue those opportunities that leverage our ability to provide
safe, cost-effective environmental and emission control solutions
for units utilizing a variety of fuel sources.”
In addition to the data center order, two orders were received
for ULTRA systems that will be installed on industrial and utility
units in China being retrofitted with SCR technology. Delivery of
these systems is scheduled for the third quarter of 2018. An
additional contract was received for an ULTRA system in the US for
a gas fired unit that supplies combined heat and power at a college
campus. Delivery for this system will be completed by the first
quarter of 2019.
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, water treatment and advanced
engineering services. These technologies enable customers to
produce energy and processed materials, and deliver water treatment
solutions 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 UDI™
Urea Direct Injection system for SCR reagent supply, and 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.
Water treatment technologies include DGI™ Dissolved Gas Infusion
Systems which utilize a patented nozzle to provide a competitive
advantage over conventional utility and industrial aeration. An
innovative alternative to current aeration technology among other
applications, DGI systems can 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, treatment, biological activity and
wastewater odor management. DGI technology benefits include reduced
energy consumption, installation costs, and operating costs, while
improving treatment performance.
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.
NOTE REGARDING FORWARD-LOOKING
STATEMENTS
This press release contains “forward-looking statements” as
defined 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 of 1995 and reflect
Fuel Tech’s current expectations regarding future growth, results
of operations, cash flows, performance and business prospects, and
opportunities, as well as assumptions made by, and information
currently available to, our management. Fuel Tech has tried to
identify forward-looking statements by using words such as
“anticipate,” “believe,” “plan,” “expect,” “estimate,” “intend,”
“will,” and similar expressions, but these words are not the
exclusive means of identifying forward-looking statements. These
statements are based on information currently available to Fuel
Tech and are subject to various risks, uncertainties, and other
factors, including, but not limited to, those discussed in Fuel
Tech’s Annual Report on Form 10-K in Item 1A under the caption
“Risk Factors,” and subsequent filings under the Securities
Exchange Act of 1934, as amended, which could cause Fuel Tech’s
actual growth, results of operations, financial condition, cash
flows, performance and business prospects and opportunities to
differ materially from those expressed in, or implied by, these
statements. Fuel Tech undertakes no obligation to update such
factors or to publicly announce the results of any of the
forward-looking statements contained herein to reflect future
events, developments, or changed circumstances or for any other
reason. Investors are cautioned that all forward-looking statements
involve risks and uncertainties, including those detailed in Fuel
Tech’s filings with the Securities and Exchange Commission.
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version on businesswire.com: https://www.businesswire.com/news/home/20180910005483/en/
Fuel Tech, Inc.Jim Pach, 630-845-4500Principal Financial
OfficerorThe Equity Group Inc.Devin Sullivan, 212-836-9608Senior
Vice President
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