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Fuel Tech Reports 2011 Fourth Quarter And Annual Financial Results; Records Achieved In Backlog, APC Announced Bookings And Annual Revenues And Operating Income

“During this dynamic regulatory environment, we will continue to work with our customers to understand their emission control needs and offer innovative product solutions. In the interim, sources will still be driven by consent decrees as well as state and local permit requirements. We believe that the long-term market for environmental controls will grow and that Fuel Tech will benefit as we are properly positioned, with a wide range of product solutions and the technical and commercial capabilities necessary, to respond quickly and provide our clients with solutions in a timely and cost-effective manner.”

“In China, as in the domestic U.S. market, we have seen a strong pickup in APC orders. We ended the year with $13.4 million in announced bookings in China, which represented 22% of our total annual announced APC bookings and an increase of 136% year-over-year. China continues to be an active and growing market for our pollution control technologies. We continue to see strong interest from this market in our ULTRA™ product line, evidenced by the award of 13 ULTRA systems during the year. We are pleased to be satisfying this growing interest in our ULTRA technology as worldwide recognition of the need for safer delivery of ammonia reagent to NOx reduction equipment increases.”

“We believe that the NOx control market in China will continue to grow as the result of the country’s Twelfth Five-Year Plan that went into effect during 2011. The requirements in the Policy align well with our portfolio of NOx reduction capabilities, which cover the full spectrum from combustion modifications to ASCR™ systems, and we anticipate receiving future orders as a result of this new Policy.”

“The FUEL CHEM segment achieved record annual revenues and operating income and continued to deliver exceptional gross margin for our business. This is especially remarkable given that most of our domestic utility customers experienced reductions in coal-fired power generation due to the operation of natural gas and alternative energy sources. Despite the challenging environment, we are winning new business and commencing new programs on coal-fired boilers, predominantly on larger-size units.”

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