Welcome to our dedicated page for Fuel Tech news (Ticker: FTEK), a resource for investors and traders seeking the latest updates and insights on Fuel Tech stock.
Fuel Tech, Inc. (symbol: FTEK) is a leading technology company specializing in the development and application of multi-pollutant emissions control systems. With a global presence, Fuel Tech empowers customers to produce energy both cost-effectively and in an environmentally sustainable manner. The company’s technologies are crucial for units powered by coal, natural gas, heavy oil, biomass, municipal waste, and other fuels.
With over 20 years of experience and more than 1,000 Air Pollution Control (APC) system installations worldwide, Fuel Tech is a pioneer in custom-designed systems that meet specific customer requirements. The company operates through two primary segments: Air Pollution Control and Fuel Chem.
In the Air Pollution Control segment, Fuel Tech provides technologies aimed at reducing NOx emissions in flue gas from boilers, incinerators, furnaces, and other stationary combustion sources. The Fuel Chem segment utilizes advanced chemical processes in conjunction with Computational Fluid Dynamics and Chemical Kinetics Modeling for boiler optimization. This includes controlling slagging, fouling, corrosion, opacity, and other sulfur trioxide-related issues through the innovative TIFI Targeted In-Furnace Injection technology.
Fuel Tech's commitment to innovation and sustainability is evident through its ongoing projects and partnerships. Recent achievements highlight the company's relentless pursuit of excellence in the field of emissions control and boiler optimization, making it an indispensable partner for utility and industrial customers worldwide.
Fuel Tech (NASDAQ: FTEK) reported Q3 2024 financial results with revenues of $7.9 million, slightly down from $8.0 million in Q3 2023. The company achieved net income of $80,000 ($0.00 per share), compared to $459,000 ($0.01 per share) in Q3 2023. FUEL CHEM segment revenue increased to $4.6 million, while APC segment revenue declined to $3.2 million. The company maintains a strong financial position with $31.3 million in cash and investments, no debt, and stockholders' equity of $43.9 million. A new commercial TIFI® technology program is expected to generate $1.5-$2.0 million in annual revenue, and the company secured approximately $2 million in new APC orders.
Fuel Tech (NASDAQ: FTEK) has secured air pollution control orders worth $2.0 million across the US, Europe, and Southeast Asia. The orders include an SCR system with UDI™ reagent delivery for an Eastern US industrial plant, SNCR technology demonstrations for biomass-fired units in the US and Europe, and an SCR system for a Southeast Asian gas-fired industrial unit. Equipment deliveries are scheduled between Q4 2024 and Q3 2025. The Eastern US order marks the fifth purchase from this repeat customer over two decades, highlighting continued trust in Fuel Tech's emissions control solutions.
Fuel Tech (NASDAQ: FTEK) has secured a demonstration agreement for its DGI® Dissolved Gas Infusion technology at a Western US fish hatchery. The project aims to evaluate DGI's ability to maintain precise dissolved oxygen levels in fish-growing environments, which is important for gamefish health, growth rates, and survival. The demonstration, scheduled to begin with equipment deliveries in Q1 2025, will span a complete grow cycle of 4-6 months, resulting in a published case study. This marks the company's second DGI demonstration in aquaculture, as they continue exploring applications across water treatment sectors.
Fuel Tech (NASDAQ: FTEK) announced it will release its third quarter 2024 financial results on Wednesday, November 6, 2024, after market close. The company will host a conference call on Thursday, November 7, 2024, at 10:00 am ET to discuss results and business activities. Fuel Tech specializes in air pollution control, process optimization, and water treatment technologies, with their NOx reduction and particulate control technologies installed on over 1,300 units worldwide. Their portfolio includes FUEL CHEM® technology for combustion unit efficiency and DGI® Dissolved Gas Infusion Systems for water treatment applications.
Fuel Tech (NASDAQ: FTEK) has announced a new commercial contract for its TIFI® Targeted In-Furnace Injection™ technology at a large coal-fired boiler in the Midwest United States. This follows a successful demonstration of the technology at the same unit. The contract is expected to generate annual revenue of $1.5 to $2.0 million, with historic FUEL CHEM® gross margins.
During the demonstration, TIFI® improved boiler availability, reliability, and reduced maintenance downtime for off-line cleaning, maximizing power generation. The technology applies specialty chemical programs to units burning various fuels, including coal, heavy oil, biomass, and municipal waste.
Fuel Tech specializes in air pollution control, process optimization, and water treatment technologies. Their solutions have been installed on over 1,300 units worldwide, focusing on nitrogen oxide reduction, particulate control, and improving combustion unit efficiency.
Fuel Tech, Inc. (NASDAQ: FTEK) announced its participation in the Water Environment Federation Technical Exhibition and Conference (WEFTEC) in New Orleans from October 7-9, 2024. The company will showcase its DGI® Dissolved Gas Infusion technology at Booth 1062 in the Innovation Pavilion.
DGI® technology transfers dissolved oxygen or carbon dioxide for water and wastewater treatment processes across multiple industries. It offers high transfer efficiency, zoned delivery, and precise control accuracy, resulting in an energy-efficient and cost-effective solution. The technology has already demonstrated positive effects in Aquaculture settings.
Fuel Tech invites conference attendees to learn about DGI®'s applications in various industries, including Municipal and Industrial wastewater, Food and Beverage, Pulp and Paper, Power Generation, Petrochem, and Landfill Leachate.
Fuel Tech (NASDAQ: FTEK), a leader in emissions control and water treatment technologies, announces its participation in the 26th Annual H.C. Wainwright Global Investment Conference. The event is scheduled for September 9-11, 2024, in New York City. Key details include:
- President & CEO Vince Arnone will present on September 10, 2024, at 12:00 pm Eastern Time.
- A live webcast will be available on Fuel Tech's website and archived for 90 days.
- One-on-one investor meetings will be hosted by Mr. Arnone.
Fuel Tech specializes in air pollution control, process optimization, and water treatment technologies. Their solutions have been installed on over 1,300 units worldwide, focusing on nitrogen oxide reduction, particulate control, and water treatment applications.
Fuel Tech (NASDAQ: FTEK) reported improved Q2 2024 financial results, with consolidated revenues rising 29% year-over-year to $7.0 million. This growth was driven by a 52% increase in FUEL CHEM® revenues and a 15% rise in APC revenues. The company's gross margin improved to 41.9% from 36.6% in Q2 2023. Despite higher SG&A expenses, the net loss narrowed to $(0.4) million, or $(0.01) per share, compared to $(1.0) million, or $(0.03) per share, in Q2 2023.
Fuel Tech maintains a strong financial position with $30.1 million in cash and investments and no long-term debt. The company is pursuing new customer demonstrations for its Dissolved Gas Infusion (DGI™) technology and expects to commence a demonstration at a U.S. fish hatchery in Q3 2024. Additionally, Fuel Tech reported $5.0 million in new APC contract bookings and anticipates closing several new APC orders during the remainder of the year.
Fuel Tech (NASDAQ: FTEK) has secured air pollution control (APC) orders worth approximately $5.0 million from customers in Europe and the US. The orders include:
1. The company's first APC award for a renewable energy project in Europe, involving multiple ammonia delivery and injection systems for green hydrogen production.
2. An SCR technology contract for a natural gas fired heater at a chemical processing plant in Europe.
3. An ULTRA® system for a natural gas turbine at a US university.
These orders significantly improve Fuel Tech's APC backlog and showcase its diverse emissions control technologies across industries and regions.
Fuel Tech (NASDAQ: FTEK) has announced it will release its Q2 2024 financial results on August 6, 2024, after market close. The company will host a conference call on August 7, 2024, at 10:00 am ET to discuss the results and business activities. Investors can participate by dialing (877) 423-9820 (Domestic) or (201) 493-6749 (International).
Fuel Tech specializes in air pollution control, process optimization, and water treatment technologies. Their solutions have been installed on over 1,300 units worldwide, focusing on nitrogen oxide reduction and particulate control. The company's FUEL CHEM® technology improves combustion unit efficiency and environmental status, while their DGI® Dissolved Gas Infusion Systems target water and wastewater applications.
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