14.09.2009 11:00:00
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Fuel Tech Awarded Multiple Air Pollution Control Orders Totaling $2.9 Million
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 receipt of multiple air pollution control contracts totaling $2.9 million, including two orders for a combined three ULTRA™ systems.
The first ULTRA order specifies engineering services and equipment for two systems to be installed on oil-fired diesel engines at a power plant located on a Caribbean island. This initiative will provide the ammonia source for new selective catalytic reduction (SCR) systems being installed for nitrogen oxide (NOx) control. Equipment deliveries are scheduled for the second quarter of 2010.
The second ULTRA order was placed by a western U.S. refinery operator for a compact ULTRA system, to be deployed as part of a NOx reduction initiative on an existing process heater. Compact ULTRA systems are designed to meet the need for smaller scale, on-site conversion of urea to ammonia for use as a reagent in the selective catalytic reduction of NOx, thereby eliminating the hazards associated with the transport, storage and handling of anhydrous or aqueous ammonia.
In addition to the foregoing, a preliminary engineering order was received from an existing Midwestern electric utility customer for multiple HERT™ High Energy Reaction Technology™ systems at multiple plant sites in response to emission levels mandated by the Clean Air Interstate Rule. HERT systems utilize Selective Non-Catalytic Reduction (SNCR) for NOx control. Six modeling orders were also secured: one from a refinery operator in Argentina seeking to reduce NOx emissions from a carbon monoxide (CO) boiler; one in connection with retrofit activities at a waste-to-energy plant; one from an engineering firm seeking to optimize performance of a conceptual SCR system; one from a municipal power plant; and two from an existing Korean customer. Lastly, a number of supplemental equipment orders were placed for previously announced business.
John F. Norris Jr., President and Chief Executive Officer, commented, "Worldwide, there is growing recognition of the need for safer delivery of ammonia reagent to NOx reduction equipment. With this announcement, we will now have over 25 commercial ULTRA systems either installed or in process in the United States, Europe and China. Moreover, with our recently developed compact ULTRA system, we have now extended the reach of our product line, better enabling us to meet the demands of an expanding marketplace.”
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 overfire air systems - and post-combustion NOx control approaches, including NOxOUT® and HERT™ SNCR systems as well as systems that incorporate NOxOUT CASCADE®, ULTRA™, Rich Reagent Injection (RRI) and NOxOUT-SCR® processes. These technologies have established Fuel Tech as a leader in NOx reduction, with installations on over 550 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 acid plume, as well as the formation of sulfur trioxide, ammonium bisulfate, particulate matter (PM2.5), carbon dioxide and NOx. This technology, in the form of a customizable FUEL CHEM program, is being applied to over 90 combustion units burning a wide variety of fuels including coal, heavy oil, biomass, and municipal waste. A breakdown of the nature of these customer units is posted on the Company’s website.
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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