Fuel Tech Awarded Air Pollution Control Orders Totaling $1.4 Million

Rhea-AI Summary

Fuel Tech (NASDAQ: FTEK) has secured air pollution control (APC) orders worth $1.4 million from customers in the US and Europe. The contracts include:

• An ULTRA® system installation for a new US customer's medical facility
• A Selective Non-Catalytic Reduction (SNCR) system for a European biomass-fired unit
• Advanced engineering services for an ASNCR system in the Eastern US

These orders contribute to $4 million in near-term contract wins and $5.6 million in total bookings year to date. The company expects deliveries to be completed between Q2 and Q4 2025. Fuel Tech's technologies focus on emissions control, process optimization, and water treatment, with their NOx reduction solutions installed on over 1,300 units worldwide.

Positive

• Secured new contracts worth $1.4 million
• Achieved $5.6 million in total bookings year to date
• Successfully expanded customer base with new US medical facility contract
• European SNCR order follows successful demonstration project
• Additional APC contracts expected by end of Q2 2025

Negative

• None.

Insights

Financial Analyst

Fuel Tech's $1.4 million in new air pollution control orders represents meaningful business development for this micro-cap company. With a market capitalization of just $29.7 million, these contracts account for approximately 4.7% of FTEK's total value, making them financially significant despite their seemingly modest absolute value.

The company has now secured $5.6 million in year-to-date bookings, representing nearly 19% of its market cap. This demonstrates substantial commercial traction for their emissions control technologies. The scheduled deliveries spanning Q2-Q4 2025 provide revenue visibility through the end of next year, an important consideration for cash flow planning.

These orders reflect important market validation across multiple dimensions: geographic diversification (US and Europe), vertical expansion (medical facility and biomass energy), and customer relationship development (both new and existing clients). Particularly noteworthy is the European order following a successful demonstration project, confirming FTEK's technology effectiveness and competitive positioning in international markets.

The CEO's statement suggests additional contract potential in the near term, with more APC awards potentially coming by the end of Q2 2025. This indicates a healthy sales pipeline that could further strengthen the company's financial outlook.

For a small technology provider competing in established industrial markets, securing multi-quarter implementation projects demonstrates competitive product offerings and successful customer acquisition strategies despite scale compared to larger industry participants.

WARRENVILLE, Ill., March 27, 2025 (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 receipt of air pollution control (APC) orders from new and existing customers in the US and Europe. These orders have an aggregate value of approximately $1.4 million.  

A contract was received from a new customer in the US for an ULTRA^® system to be installed on a natural gas turbine with a heat recovery steam generator and Selective Catalytic Reduction (SCR) system at a medical facility in the Midwest. Fuel Tech’s ULTRA process provides for the safe and cost-effective on-site conversion of urea to ammonia for use as a reagent where SCR is used to reduce nitrogen oxide (NOx), eliminating the hazards associated with the transport, storage and handling of anhydrous or aqueous ammonia. Delivery is expected to be completed in the fourth quarter of 2025.

An order was received from a customer in Europe for a Selective Non-Catalytic Reduction (SNCR) system on a biomass-fired unit. Fuel Tech’s SNCR technology is a proven solution for industrial combustion unit owners looking to comply with more stringent NO_x control requirements. This order is to purchase equipment following a successful demonstration project that started in late 2024. The new permanent equipment is scheduled for delivery in the third quarter of 2025.

A domestic contract was also received for advanced engineering from an existing customer in the Eastern US for a biomass unit as a first step towards an Advanced Selective Non-Catalytic Reduction (ASNCR) system, which is a proven solution for industrial combustion unit owners looking to comply with more stringent NO_x control requirements. Work is scheduled for completion in the second quarter of 2025.

Vincent J. Arnone, President and Chief Executive Officer, commented, “We are pleased to announce these contract awards to support the needs of a wide range of industrial customers. These orders bring us to $4 million in near-term contract wins that we were expecting to close by early in the second quarter of this year, and to $5.6 million in announced bookings year to date. We are continuing to actively pursue additional APC contracts that are likely to be awarded by the end of the second quarter of 2025.”  

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 (NO_x) 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, contracts being awarded to competitors offering different or lower-priced technologies, projects being suspended, delayed or cancelled and other risks 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 total value of Fuel Tech's (FTEK) recent air pollution control orders?

Fuel Tech's recent air pollution control orders total $1.4 million from customers in the US and Europe.

When will Fuel Tech (FTEK) complete the delivery of the ULTRA system for the medical facility?

The ULTRA system delivery is expected to be completed in the fourth quarter of 2025.

How much has Fuel Tech (FTEK) announced in total bookings year to date?

Fuel Tech has announced $5.6 million in total bookings year to date.

What is the delivery timeline for FTEK's European SNCR system order?

The European SNCR system is scheduled for delivery in the third quarter of 2025.

How many units worldwide have Fuel Tech's NOx reduction technologies been installed on?

Fuel Tech's NOx reduction technologies have been installed on over 1,300 utility, industrial and municipal units worldwide.