Fuel Tech Announces FUEL CHEM® Commercial Contract for a New Domestic Utility Customer
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 (NASDAQ: FTEK) ha annunciato un nuovo contratto commerciale per la sua tecnologia TIFI® Targeted In-Furnace Injection™ presso una grande caldaia a carbone nel Midwest degli Stati Uniti. Questo segue una dimostrazione di successo della tecnologia nella stessa unità. Si prevede che il contratto genererà un fatturato annuale compreso tra $1,5 e $2,0 milioni, con margini lordi storici di FUEL CHEM®.
Durante la dimostrazione, TIFI® ha migliorato la disponibilità e l'affidabilità della caldaia, riducendo i tempi di inattività per la pulizia offline, massimizzando la generazione di energia. La tecnologia applica programmi chimici specializzati a unità che bruciano vari combustibili, tra cui carbone, olio pesante, biomassa e rifiuti municipali.
Fuel Tech è specializzata nel controllo dell'inquinamento atmosferico, nell'ottimizzazione dei processi e nelle tecnologie di trattamento delle acque. Le loro soluzioni sono state installate su oltre 1.300 unità in tutto il mondo, con un focus sulla riduzione degli ossidi di azoto, sul controllo delle particelle e sul miglioramento dell'efficienza delle unità di combustione.
Fuel Tech (NASDAQ: FTEK) ha anunciado un nuevo contrato comercial para su tecnología TIFI® Targeted In-Furnace Injection™ en una gran caldera de carbón en el Medio Oeste de los Estados Unidos. Esto sigue a una demostración exitosa de la tecnología en la misma unidad. Se espera que el contrato genere ingresos anuales de $1.5 a $2.0 millones, con márgenes brutos históricos de FUEL CHEM®.
Durante la demostración, TIFI® mejoró la disponibilidad y confiabilidad de la caldera, reduciendo el tiempo de inactividad por limpieza fuera de línea y maximizando la generación de energía. La tecnología aplica programas químicos especializados a unidades que queman varios combustibles, incluidos carbón, aceite pesado, biomasa y residuos municipales.
Fuel Tech se especializa en el control de la contaminación del aire, la optimización de procesos y tecnologías de tratamiento de aguas. Sus soluciones se han instalado en más de 1,300 unidades en todo el mundo, centrándose en la reducción de óxidos de nitrógeno, el control de partículas y la mejora de la eficiencia de las unidades de combustión.
퓨얼 테크(Fuel Tech) (NASDAQ: FTEK)는 미국 중서부의 대형 석탄 화력 보일러에 대한 TIFI® Targeted In-Furnace Injection™ 기술에 관한 새로운 상업 계약을 발표했습니다. 이는 같은 설비에서의 기술 시연이 성공적으로 이루어진 후입니다. 이 계약은 연간 $1.5에서 $2.0 백만의 수익을 창출할 것으로 예상되며, 역사적인 FUEL CHEM® 총 마진을 기록할 것입니다.
시연 동안 TIFI®는 보일러의 가용성과 신뢰성을 개선하고, 오프라인 청소를 위한 유지보수 다운타임을 줄여 전력 생산을 극대화했습니다. 이 기술은 석탄, 중유, 바이오매스 및 도시 폐기물 등 다양한 연료를 태우는 유닛에 특수 화학 프로그램을 적용합니다.
퓨얼 테크는 공기 오염 제어, 공정 최적화 및 수처리 기술에 전문화되어 있습니다. 이들의 솔루션은 전 세계 1,300개 이상의 유닛에 설치되어 있으며, 질소 산화물 감소, 입자 제어 및 연소 장치 효율 개선에 중점을 둡니다.
Fuel Tech (NASDAQ: FTEK) a annoncé un nouveau contrat commercial pour sa technologie TIFI® Targeted In-Furnace Injection™ dans une grande chaudière à charbon au Midwest des États-Unis. Cela fait suite à une démonstration réussie de la technologie dans la même unité. On s'attend à ce que le contrat génère un revenu annuel de $1,5 à $2,0 millions, avec des marges brutes historiques de FUEL CHEM®.
Lors de la démonstration, TIFI® a amélioré la disponibilité et la fiabilité de la chaudière, réduisant les temps d'arrêt pour le nettoyage hors ligne, maximisant ainsi la production d'énergie. La technologie applique des programmes chimiques spécialisés à des unités utilisant divers combustibles, y compris le charbon, le fioul lourd, la biomasse et les déchets municipaux.
Fuel Tech se spécialise dans le contrôle de la pollution de l'air, l'optimisation des processus et les technologies de traitement de l'eau. Leurs solutions ont été installées sur plus de 1 300 unités dans le monde, en se concentrant sur la réduction des oxydes d'azote, le contrôle des particules et l'amélioration de l'efficacité des unités de combustion.
Fuel Tech (NASDAQ: FTEK) hat einen neuen kommerziellen Vertrag für seine TIFI® Targeted In-Furnace Injection™ Technologie an einem großen Kohlekraftwerk im Mittleren Westen der USA bekannt gegeben. Dies folgt auf eine erfolgreiche Demonstration der Technologie in derselben Einheit. Der Vertrag wird voraussichtlich einen jährlichen Umsatz von $1,5 bis $2,0 Millionen mit historischen Bruttomargen von FUEL CHEM® generieren.
Während der Demonstration verbesserte TIFI® die Verfügbarkeit und Zuverlässigkeit der Kessel und verringerte die Wartungsstillstandszeiten für Offline-Reinigung, wodurch die Energieerzeugung maximiert wurde. Die Technologie wendet spezialisierte chemische Programme auf Einheiten an, die verschiedene Brennstoffe, einschließlich Kohle, schwerem Öl, Biomasse und kommunalen Abfällen, verbrennen.
Fuel Tech spezialisiert sich auf die Kontrolle von Luftverschmutzung, Prozessoptimierung und Wasserbehandlungstechnologien. Ihre Lösungen wurden weltweit in über 1.300 Einheiten installiert, mit Schwerpunkt auf der Reduzierung von Stickstoffoxiden, der Kontrolle von Partikeln und der Verbesserung der Effizienz von Verbrennungseinheiten.
- New commercial contract for TIFI® technology with a Midwest U.S. utility
- Expected annual revenue of $1.5 to $2.0 million from the contract
- Demonstrated improvements in boiler availability, reliability, and reduced maintenance downtime
- Expansion of customer base in the utility sector
- None.
Insights
The announcement of a new commercial contract for Fuel Tech's TIFI® technology is a positive development. With projected annual revenue of
The successful conversion from demonstration to commercial contract validates the effectiveness of FTEK's technology in improving boiler efficiency and reducing maintenance costs for utility customers. This could lead to increased adoption and additional contracts in the future, potentially driving growth for the company.
Investors should note that while this contract is promising, its full revenue potential depends on the customer's continuous operation. The coal power industry faces challenges due to environmental regulations and competition from renewable energy sources, which could impact the long-term stability of such contracts.
Fuel Tech's TIFI® technology demonstrates significant potential in addressing critical operational challenges in coal-fired power plants. By improving boiler availability, reliability and reducing maintenance downtime, this technology offers a compelling value proposition for utility companies seeking to optimize their existing coal infrastructure.
The environmental implications are twofold. On one hand, enhancing the efficiency of coal-fired plants could extend their operational lifespan, potentially slowing the transition to cleaner energy sources. Conversely, improved efficiency and reduced maintenance can lead to lower overall emissions and resource consumption per unit of energy produced.
The successful implementation of this technology at a Midwest utility could serve as a reference case for other potential customers, potentially accelerating FTEK's market penetration in the emissions control and efficiency improvement sector for fossil fuel power generation.
WARRENVILLE, Ill., Oct. 22, 2024 (GLOBE NEWSWIRE) -- Fuel Tech, Inc. (NASDAQ: FTEK), a technology company using advanced engineering processes to provide emissions control systems and water treatment technologies in utility and industrial applications, today announced the commencement of a new commercial program using the Company’s proprietary TIFI® Targeted In-Furnace Injection™ technology for a large coal-fired boiler at a Midwest United States utility.
This order comes after a demonstration of the Company’s TIFI® technology at this unit over the past several months. The annual revenue potential from this contract is projected to be approximately
During the demonstration, the TIFI® chemical program improved boiler availability and reliability, and reduced maintenance downtime for off-line boiler cleaning in order to maximize the power generation profile of this unit.
Vincent J. Arnone, Chairman, President and Chief Executive Officer, commented, “We are pleased to announce the conversion of this TIFI® demonstration to a commercial contract at a new coal-fired unit. Our proprietary approach to fireside treatment has demonstrated significant operational improvements including reduced maintenance downtime and longer sustained runtimes when the boiler operates at high load factors. We are excited that our program is providing cost-effective treatment to support our customer’s power generating needs.”
The Company uses its proprietary TIFI® processes to apply specialty chemical programs to units burning a wide variety of fuels, including coal, heavy oil, biomass, and municipal waste. These TIFI® programs incorporate design, modeling, equipment, reagent, and service to provide complete customized on-site programs designed to improve plant operations and provide a return on investment in addition to helping meet emission regulatory requirements.
About Fuel Tech
Fuel Tech develops and commercializes state-of-the-art proprietary technologies for air pollution control, process optimization, water treatment, and advanced engineering services. These technologies enable customers to operate in a cost-effective and environmentally sustainable manner. Fuel Tech is a leader in nitrogen oxide (NOx) reduction and particulate control technologies and its solutions have been installed on over 1,300 utility, industrial and municipal units worldwide. The Company’s FUEL CHEM® technology improves the efficiency, reliability, fuel flexibility, boiler heat rate, and environmental status of combustion units by controlling slagging, fouling, corrosion and opacity. Water treatment technologies include DGI® Dissolved Gas Infusion Systems which utilize a patented saturator and a patent-pending channel injector to deliver supersaturated oxygen solutions and other gas-water combinations to target process applications or environmental issues. This infusion process has a variety of applications in the water and wastewater industries, including remediation, aeration, biological treatment and wastewater odor management. 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. For more information, visit Fuel Tech’s web site at www.ftek.com.
NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains “forward-looking statements” as defined in Section 21E of the Securities Exchange Act of 1934, as amended, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and reflect Fuel Tech’s current expectations regarding future growth, results of operations, cash flows, performance and business prospects, and opportunities, as well as assumptions made by, and information currently available to, our management. Fuel Tech has tried to identify forward-looking statements by using words such as “anticipate,” “believe,” “plan,” “expect,” “estimate,” “intend,” “will,” and similar expressions, but these words are not the exclusive means of identifying forward-looking statements. These statements are based on information currently available to Fuel Tech and are subject to various risks, uncertainties, and other factors, including, but not limited to, those discussed in Fuel Tech’s Annual Report on Form 10-K in Item 1A under the caption “Risk Factors,” and subsequent filings under the Securities Exchange Act of 1934, as amended, which could cause Fuel Tech’s actual growth, results of operations, financial condition, cash flows, performance and business prospects and opportunities to differ materially from those expressed in, or implied by, these statements. Fuel Tech undertakes no obligation to update such factors or to publicly announce the results of any of the forward-looking statements contained herein to reflect future events, developments, or changed circumstances or for any other reason. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including those detailed in Fuel Tech’s filings with the Securities and Exchange Commission.
| CONTACT: | Vince Arnone | Devin Sullivan |
| President and Chief Executive Officer | Managing Director | |
| (630) 845-4500 | The Equity Group Inc. | |
| dsullivan@equityny.com |
FAQ
What is the expected annual revenue from Fuel Tech's new TIFI® contract?
How did Fuel Tech's TIFI® technology perform during the demonstration?
What types of fuels can Fuel Tech's TIFI® process be used with?
How many units worldwide have Fuel Tech's solutions been installed on?
