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 financial results for Q4 2022 and the full year, achieving the highest annual revenue since 2019, totaling $26.9 million, up from $24.3 million in 2021. The company maintained a strong financial position with $32.7 million in cash and no long-term debt. The Air Pollution Control (APC) segment generated approximately $10 million in new project awards in 2022 and has a global sales pipeline of $50-$75 million. However, FUEL CHEM revenues declined by 6% year-over-year. The company expects modest revenue growth for 2023, driven by the APC segment, but anticipates a slight decline in FUEL CHEM revenues.
Fuel Tech, Inc. (NASDAQ: FTEK) has appointed William Decker as Vice President of Water and Wastewater Treatment Technologies, effective March 15, 2023. Decker, with over 30 years of experience in engineering and operations in the water treatment sector, will oversee the growth and development of Fuel Tech’s Dissolved Gas Infusion (DGITM) technology. He has previously held leadership roles at Aqua-Aerobic Systems and Aquionics. Decker's appointment comes as Fuel Tech aims to enhance its innovative water treatment solutions, addressing global concerns on water pollution and sustainability.
Fuel Tech, Inc. (NASDAQ: FTEK) announced multiple air pollution control contracts valued at approximately $5.2 million, awarded by customers in the US, Europe, and the Pacific Rim. Key projects include contracts for NOxOUT® Selective Non-Catalytic Reduction (SNCR) systems and ULTRA® systems for natural gas-fired turbines. Deliveries are expected in the second and third quarters of 2023. The contracts are driven by stricter NOx control regulations from the EPA, signaling growth for Fuel Tech's technologies in compliance solutions. The company’s expertise positions it well for emerging opportunities stemming from upcoming regulatory changes.
Fuel Tech, Inc. (NASDAQ: FTEK) announced it will release its financial results for Q4 and full year ended
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