Articles
Fuel Tech Awarded Multiple Air Pollution Control Orders Totaling $2.6 M; Includes SNCR Project In China
January 29, 2010
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 $2.6 million.
The largest of these orders, which originated in China, represents NOxOUT® Selective Non-Catalytic Reduction (SNCR) systems for four circulating fluidized bed combustion units at an industrial plant in Guangzhou City, the capital of Guangdong Province. Equipment deliveries for this project, which is designed to satisfy nitrogen oxide (NOx) emission requirements in anticipation of the upcoming Asian Games, are scheduled for the fourth quarter of 2010.
John F. Norris Jr., President and Chief Executive Officer, commented, "We are encouraged to have received our second NOx control order in Guangzhou City, where the Asian Games are scheduled to commence in November 2010. This province affords Fuel Tech additional NOx control opportunities as new environmental regulations have been issued in preparation for the Games, calling for the installation of systems to reduce NOx by as much as 80% by September 30, 2010, with incentives provided for earlier compliance."
Elsewhere overseas, an order was received for an ULTRA system to be installed on a coal-fired district heating plant in the Lombard region of Italy. This contract represents our second order from this customer. This system will provide the ammonia source for a new SCR system being installed for NOx control. Equipment deliveries are scheduled for the second quarter of 2010. Fuel Tech's ULTRA process provides for the safe and cost-effective on-site conversion of safe urea reagent for use as reducing reagent in the selective catalytic reduction of NOx, eliminating the hazards associated with the transport, storage and handling of anhydrous or aqueous ammonia.
In addition, a contract was received for a NOxOUT SNCR system for a biomass-based circulating fluidized bed combustor in California. Supplemental equipment orders for previously announced business from a domestic electric utility were also received, as well as an equipment order from a domestic manufacturing company. Lastly, five modeling orders were secured: two from an existing Korean client; one from a Midwestern electric utility; one from a domestic oil refinery; and one from a domestic electric generating station. Often, mapping and modeling initiatives represent the first steps in an investment program and can lead to larger client projects for Fuel Tech.
Separately, Fuel Tech corrected an error in its October 26, 2009 press release, which announced the receipt of orders involving a NOx reduction project on two medium-sized boilers, by stating that the project will only utilize HERT™ High Energy Reagent Technology™ systems and will not involve the application of Rich Reagent Injection technology.
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 85 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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