Fuel Tech, Inc. Secures $2.6 Million in Air Pollution Control Orders from U.S. and Japan Clients

Fuel Tech announced $2.6 million in air pollution control orders from US and Japan customers, enhancing emissions reduction capabilities.

Quiver AI Summary

Fuel Tech, Inc. has announced the receipt of approximately $2.6 million in air pollution control (APC) orders from customers in the US and Japan, including an order for an ULTRA® system for a natural gas-fired utility plant in Japan. This system will employ Selective Catalytic Reduction (SCR) technology and will be the fourth on-site unit under a previous contract. The ULTRA process allows for safe, on-site conversion of urea to ammonia, improving energy efficiency while reducing environmental hazards. Additionally, a domestic order has been placed for engineering work towards an Advanced Selective Non-Catalytic Reduction (ASNCR) system to help a municipal waste unit comply with NOx control regulations. The president of Fuel Tech, Vincent J. Arnone, expressed satisfaction with these contracts, which contribute to the expected $4 to $5 million in near-term contract wins. Engineering for the orders is set to be completed in mid-2025, with equipment delivery planned for early 2027.

Potential Positives

• Fuel Tech has secured approximately $2.6 million in air pollution control orders from existing customers in the US and Japan, indicating strong demand for its technologies.
• The announced order includes a follow-on contract for an ULTRA® system in Japan, reaffirming the company's ongoing relationship with key clients and its technology's reliability.
• The new orders support compliance with increasingly stringent NOx control regulations, positioning Fuel Tech as a leader in emissions control technologies and enhancing its market competitiveness.
• The positive outlook for an expected $4 to $5 million in near-term contract wins demonstrates the company's proactive approach and growth potential in the air pollution control sector.

Potential Negatives

• The announcement of only $2.6 million in orders may indicate a slowdown in demand or sales compared to previous periods, potentially raising concerns about the company's growth trajectory and market position.
• The extended timeline for engineering completion and equipment delivery, with services not expected to start until 2027, could impact the company's short-term financial performance and revenue recognition.
• The presence of forward-looking statements carries inherent risks and uncertainties, which could lead to stakeholders questioning the reliability of the company's projections and future prospects.

FAQ

What is the value of the recent contracts received by Fuel Tech?

The recent contracts from existing customers have an aggregate value of approximately $2.6 million.

What technology does Fuel Tech use for emissions control?

Fuel Tech uses the ULTRA® system and Advanced Selective Non-Catalytic Reduction (ASNCR) technology for emissions control.

Where will the new ULTRA® system be installed?

The new ULTRA® system will be installed on a natural gas-fired Combined Cycle utility plant in Japan.

What is the timeline for the new equipment delivery?

Equipment delivery for the ULTRA® system is scheduled for the first quarter of 2027.

What does Fuel Tech's FUEL CHEM® technology improve?

FUEL CHEM® technology improves efficiency, reliability, fuel flexibility, and environmental performance of combustion units.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

$FTEK Insider Trading Activity

$FTEK insiders have traded $FTEK stock on the open market 6 times in the past 6 months. Of those trades, 6 have been purchases and 0 have been sales.

Here’s a breakdown of recent trading of $FTEK stock by insiders over the last 6 months:

• SHARON L JONES has made 6 purchases buying 47,814 shares for an estimated $50,088 and 0 sales.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$FTEK Hedge Fund Activity

We have seen 15 institutional investors add shares of $FTEK stock to their portfolio, and 13 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

• ACUITAS INVESTMENTS, LLC removed 831,805 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $873,395
• RENAISSANCE TECHNOLOGIES LLC added 138,169 shares (+15.3%) to their portfolio in Q4 2024, for an estimated $145,077
• CITADEL ADVISORS LLC added 119,639 shares (+93.5%) to their portfolio in Q4 2024, for an estimated $125,620
• SUSQUEHANNA INTERNATIONAL GROUP, LLP added 60,298 shares (+223.2%) to their portfolio in Q4 2024, for an estimated $63,312
• CIBC PRIVATE WEALTH GROUP LLC removed 51,100 shares (-98.1%) from their portfolio in Q4 2024, for an estimated $53,655
• ENGINEERS GATE MANAGER LP added 32,322 shares (+214.7%) to their portfolio in Q4 2024, for an estimated $33,938
• ESSEX INVESTMENT MANAGEMENT CO LLC removed 27,780 shares (-20.0%) from their portfolio in Q4 2024, for an estimated $29,169

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Full Release

WARRENVILLE, Ill., March 24, 2025 (GLOBE NEWSWIRE) --

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 existing customers in the US and Japan. These orders have an aggregate value of approximately $2.6 million.

An order from Japan was received for an ULTRA

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system that will be installed on a natural gas-fired Combined Cycle utility plant in the Pacific Rim being retrofitted with Selective Catalytic Reduction (SCR) 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 where SCR is used to reduce nitrogen oxide (NOx), eliminating the hazards associated with the transport, storage and handling of anhydrous or aqueous ammonia. This will be the fourth on-site unit and a follow-on order from a 2017 contract. The equipment will again use our ULTRA-EX™ approach, which utilizes high temperature exhaust gas from the combustion turbine in the ULTRA process. The extracted flue gas is used to thermally decompose the concentrated urea solution into ammonia in the ULTRA chamber. ULTRA-EX increases the energy efficiency of the overall process and lowers the external heat input required to generate the ammonia which is fed to the SCR. Engineering is expected to be completed in the second quarter of 2025, with equipment delivery scheduled sometime in the first quarter of 2027.

A domestic order was also received for advanced engineering from an existing municipal waste unit customer in the Northeast as a first step towards an Advanced Selective Non-Catalytic Reduction (ASNCR) system, which is a proven solution for industrial combustion unit owners looking to comply with more stringent NO

_x

control requirements. Work is scheduled for completion in the second quarter of 2025.

Vincent J. Arnone, President and Chief Executive Officer, commented, “We are pleased to announce these contract awards to support the needs of a wide range of utility and industrial customers. These orders reflect a portion of the $4 to 5 million in near-term contract wins that we were expecting to close by early in the second quarter of this year. We are continuing to actively pursue additional APC contracts that are likely to be awarded early in the second quarter of 2025.”

About Fuel Tech

Fuel Tech develops and commercializes state-of-the-art proprietary technologies for air pollution control, process optimization, water treatment, and advanced engineering services. These technologies enable customers to operate in a cost-effective and environmentally sustainable manner. Fuel Tech is a leader in nitrogen oxide (NO

_x

) reduction and particulate control technologies and its solutions have been installed on over 1,300 utility, industrial and municipal units worldwide. The Company’s FUEL CHEM

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technology improves the efficiency, reliability, fuel flexibility, boiler heat rate, and environmental status of combustion units by controlling slagging, fouling, corrosion and opacity. Water treatment technologies include DGI

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Dissolved Gas Infusion Systems which utilize a patented saturator and a patent-pending channel injector to 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, aeration, biological treatment and wastewater odor management. 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. 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, contracts being awarded to competitors offering different or lower-priced technologies, projects being suspended, delayed or cancelled and other risks 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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.