WARRENVILLE, Ill., June 10, 2014 (GLOBE NEWSWIRE) -- 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 four air pollution control (APC) contracts from customers in China, along with an APC order in the US. These awards have an aggregate value of approximately $5.2 million.
The first two contracts are for ULTRA™ systems for several sites in China with coal-fired units that are being retrofitted with nitrogen oxide (NO x ) 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 NO x , eliminating the hazards associated with the transport, storage and handling of anhydrous or aqueous ammonia. Two additional China contract awards are for Fuel Tech's HERT™ High Energy Reagent Technology™ and NOxOUT® Selective Non-Catalytic Reduction (SNCR) systems for multiple coal-fired boilers at two power generation facilities. Equipment deliveries for all four contracts are expected to occur in the third quarter of this year.
In the US, an order was received for an ULTRA system on a coal-fired boiler at a power generation facility. The scope also includes equipment for urea unloading, handling and solutionizing and storage to allow dry urea to be delivered to the site. Delivery of the ULTRA system is scheduled for the second quarter of 2015.
Douglas G. Bailey, Chairman, President and Chief Executive Officer, commented, "Our China Pacific Rim business is continuing to grow, driven primarily by China's focus on complying with NOx reduction requirements under that nation's 12th Five-Year Plan. The ULTRA system in the US will allow the customer to minimize shipping and operating costs and increase urea sourcing flexibility, while minimizing safety concerns by avoiding the use of ammonia for this SCR application."
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 (NO x ) reduction technologies include advanced combustion modification techniques - such as Low NO x Burners and Over-Fire Air systems - and post-combustion NO x control approaches, including NO x OUT ® and HERT™ SNCR systems, ASCR™ Advanced Selective Catalytic Reduction systems, NO x OUT-SCR ® , NO x OUT CASCADE ® , and I-NO x ™ Integrated NO x 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 NO x reduction, with installations on over 800 units worldwide, where coal, fuel oil, natural gas, municipal waste, biomass and other fuels are utilized.
Fuel Tech's technologies for particulate control include Electrostatic Precipitator (ESP) products and services include ESP Inspection Services, Performance Modeling, Performance and Efficiency Upgrades, along with complete turnkey capability for ESP retrofits, with more than 60 major rebuilds on units up to 700 MW. Flue gas conditioning (FGC) systems include treatment using sulfur trioxide (SO 3 ) and ammonia (NH 3 ) based conditioning to improve the performance of ESPs by modifying the properties of the fly ash particle. FGC systems offer a lower capital cost approach to improving ash particulate capture versus the alternative of installing larger ESPs or utilizing fabric filter technology to meet targeted emissions and opacity limits. 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 and environmental status of combustion units by controlling slagging, fouling, corrosion, opacity and operational issues associated with sulfur trioxide, ammonium bisulfate, particulate matter (PM 2.5 ), carbon dioxide and NO x . 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.
David S. Collins Chief Financial Officer (630) 845-4500 Devin Sullivan Senior Vice President The Equity Group Inc. (212) 836-9608
