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, Inc. (NASDAQ: FTEK) reported Q1 2024 financial results, highlighting revenue declines, expected revenue growth, and positive prospects. Consolidated revenues decreased to $5.0 million, with a rise in gross margin to 40.9%. SG&A expenses increased slightly, while net income improved to $281,000. APC segment backlog was $6.2 million, and FUEL CHEM segment revenue declined. Adjusted EBITDA loss was $(1.5) million. Cash and investments stood at $32.1 million. Stockholders' equity was $44.0 million with no debt.
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