Fuel Tech, Inc. (NASDAQ: FTEK), a world leader in advanced engineering solutions for combustion and emissions control systems for utility and industrial applications, today announced receipt of multiple air pollution control (APC) orders in China totaling $3.9 million.
Three orders were received for ULTRA™ projects in China. The first order, placed by an existing customer and one of the largest five power producers in China, is an award of ULTRA systems for two large-sized coal-fired units that are being retrofitted with nitrogen oxide (NO x) reduction technology. The second order, placed by a new customer, is an award of ULTRA systems for two large-sized coal-fired units. The third order, placed by a repeat customer, is an award of an ULTRA system for one medium-sized coal-fired unit being retrofitted with NO x control 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. Equipment deliveries for two projects are expected to occur in the third quarter of this year with the equipment for the remaining project scheduled for delivery in the fourth quarter.
A fourth order, placed by an existing customer in China, is an award of combustion modifications and an Over-Fire Air (OFA) system for a small industrial unit. Combustion modifications, typically the first NO x reduction efforts employed, can improve efficiency and reduce the formation of NO x by altering the combustion process. Fuel Tech’s OFA systems stage combustion for enhanced NO x reduction. Equipment delivery for this project is expected to occur in the third quarter of this year.
Douglas G. Bailey, Chairman, President and Chief Executive Officer, commented, “We are pleased to receive these three ULTRA orders for five coal-fired units from both new and repeat customers. There is particularly strong interest in China in our ULTRA product line, as evidenced by the award of 13 ULTRA systems so far this year. As more SCR systems are installed to comply with the NO x reduction requirements, we will see this market opportunity expand as our proprietary ULTRA technology continues to demonstrate its ability to generate ammonia in a safe, cost-effective manner. We continue to see increased discussions with power plant and industrial operators in the Pacific Rim for our NO x control technologies. Fuel Tech’s unique ability to combine technologies ranging from Low NO x Burners, OFA, and hybrid SNCR/SCR systems affords us a competitive position to reduce NO x emissions on power plant units of all sizes.”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.
Check Out Our Best Services for Investors
Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Check Out Our Best Services for Investors
Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.