Fuel Tech (FTEK) Wins $2M in Orders

Fuel Tech, Inc. (NASDAQ: FTEK), a technology company using advanced engineering processes to provide emissions control systems and water treatment technologies in utility and industrial applications, today announced the receipt of air pollution control (APC) orders from new and existing customers in the US, Europe and Southeast Asia. These orders have an aggregate value of approximately $2.0 million.

An order was received from a repeat domestic customer to supply a Selective Catalytic Reduction (SCR) system and a UDI™ Urea Direct Injection™ reagent delivery system to an industrial process plant in the Eastern US. The SCR system will provide high levels of nitrogen oxide (NOx) reduction using safe urea reagent at the customer’s new production plant. The UDI system eliminates the hazards associated with the transport, storage and handling of anhydrous or aqueous ammonia. This is the fifth order from this customer over the past two decades. Equipment deliveries are expected in the fourth quarter of 2025.

Contracts were received from two customers in the US and Europe to demonstrate Selective Non-Catalytic Reduction (SNCR) technology on biomass-fired units. Fuel Tech’s SNCR technology is a proven solution for industrial combustion unit owners looking to comply with more stringent NOx control requirements. Both demonstrations will occur in the fourth quarter of 2024, with potential permanent equipment orders in the first half of 2025.

An order was received from a new global customer in Southeast Asia for an SCR system using aqueous ammonia as the reagent. The SCR system will be installed on gas-fired industrial process unit. Deliveries are expected to be completed in the third quarter of 2025.

Vincent J. Arnone, President and Chief Executive Officer, commented, “We are pleased to announce SCR system contracts using our UDI technology, which has been utilized by this customer at multiple locations over the past two decades, and for a new SCR customer in Southeast Asia. SNCR demonstration agreements for biomass units reflect the flexibility of this technology to address emissions control issues across multiple fuel sources.”

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