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| [January 14, 2013] |
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Fuel Tech Awarded Air Pollution Control Orders Totaling $3.2 Million
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 it
received four air pollution control contracts in China, along with
several orders in the US and Europe.
The first award is for an SNCR system on a cement kiln in China. SNCR
technology can provide NOx reduction from cement production
processes without the challenges associated with the application of SCR
technology. The cement produced from a kiln can affect SCR catalyst life
or may require system design changes or additional components. Equipment
delivery is scheduled for the second quarter of 2013.
The other three awards in China, two of which are from new utility
customers, represent ULTRA™
systems for six medium-sized coal-fired units that are 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 in the selective catalytic reduction of NOx,
eliminating the hazards associated with the transport, storage and
handling of anhydrous or aqueous ammonia. Equipment deliveries for these
projects are expected to occur in the second quarter of this year.
Other contracts include an engineering study for NOx control
technologies from a utility in Europe, a project in the Western US to
demonstrate the application of SNCR technology, and several CFD modeling
projects associated with the evaluation of SCR technology.
Douglas G. Bailey, Chairman, President and Chief Executive Officer,
commented, "We are excited about Fuel Tech's first project for the
cement industry in China, which has grown in recent years to become the
global leader in the production of cement. In addition to opportunities
in the utility market in China, we continue to see growth from
industrial units including cement kilns as a result of more stringent NOx
control regulations in the Pacific Rim market. Fuel Tech has SNCR
systems operating successfully on other cement applications for more
than a decade in Europe and the Pacific Rim, and we anticipate future
opportunities in China's cement market."
Mr. Bailey continued, "We are pleased to see continued adoption of Fuel
Tech's proprietary ULTRA technology and are witnessing an increasing
level of bid requests throughout China. As more SCR systems are
installed to comply with NOx reduction requirements of the
naion's 12th Five-Year Plan, we anticipate an expanding
market opportunity and additional orders for our proven technologies."
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 - such as Low
NOx Burners and Over-Fire
Air systems - and post-combustion NOx control approaches,
including NOxOUT®
and HERT™ SNCR systems as well as systems that incorporate ASCR™
(Advanced Selective Catalytic Reduction), NOxOUT
CASCADE®, ULTRA™
and NOxOUT-SCR®
processes. These technologies have established Fuel Tech as a leader in
NOx reduction, with installations on over 700 units worldwide, where
coal, fuel oil, natural gas, municipal waste, biomass and other fuels
are utilized.
The Company's FUEL
CHEM® technology revolves around the unique application
of chemicals to improve the efficiency, reliability, fuel flexibility
and environmental status of combustion units by controlling slagging,
fouling, corrosion, opacity and operational issues associated with
sulfur trioxide, ammonium bisulfate, particulate matter (PM2.5),
carbon dioxide and NOx. The Company has experience with this
technology, in the form of a customizable FUEL CHEM program, on over 110
combustion units burning a wide variety of fuels including coal, heavy
oil, biomass, and municipal waste.
Fuel Tech also provides a range of combustion optimization services,
including airflow testing, coal flow testing and boiler tuning, as well
as services to help optimize selective catalytic reduction system
performance, including catalyst management services and ammonia
injection grid tuning. 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.
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