Fuel Tech, Inc. - FTEK STOCK NEWS

Fuel Tech, Inc. (NASDAQ: FTEK) reported a 33.2% increase in Q1 2021 revenues, reaching $5.0 million compared to $3.8 million in Q1 2020, primarily driven by a nearly 60% growth in FUEL CHEM segment sales due to higher power demand and recovery from COVID-19.

However, the Air Pollution Control (APC) segment faced sluggish performance with revenues declining to $0.9 million from $1.2 million. Notably, the company ended the quarter with $36.1 million in cash and no debt, emphasizing a strong financial position.

Fuel Tech, Inc. (NASDAQ: FTEK) will release its financial results for Q1 2021 on May 12, 2021, after market close. A conference call is scheduled for May 13, 2021, at 10:00 am ET to discuss these results and business activities. Interested participants can join the call by dialing (877) 423-9820 for domestic or (201) 493-6749 for international. The call will also be available online at www.ftek.com. Fuel Tech specializes in technologies for air pollution control and water treatment, with a strong emphasis on optimizing combustion systems.

Fuel Tech, Inc. (NASDAQ: FTEK) reported Q4 2020 revenues of $6.2 million, up 26.5% from Q4 2019. The company narrowed its net loss to $(1.5) million or $(0.07) per share, compared to $(4.3) million in Q4 2019. Cash reserves stand at approximately $37 million following a financing round in February 2021. The company aims to capitalize on global demand for emissions control and water treatment solutions, particularly focusing on their FUEL CHEM® and DGI™ technologies. SG&A expenses reduced by 15.3% to $3.8 million. The total backlog in the Air Pollution Control segment was $5.3 million as of December 31, 2020.

Fuel Tech, Inc. (NASDAQ: FTEK) will announce its financial results for Q4 and the full year ended December 31, 2020, on March 15, 2021, post-market. Management will host a conference call on March 16, 2021, at 10:00 AM ET to discuss the results. Interested participants can join via phone or access the call through the company website. Fuel Tech specializes in technologies for emissions control, process optimization, and water treatment, aiming for cost-effective and environmentally sustainable solutions in combustion systems.

Fuel Tech, Inc. (NASDAQ: FTEK) has successfully closed a private placement of 5 million common shares and warrants for $5.1625 each, generating approximately $25.8 million in gross proceeds. The warrants, with an exercise price of $5.10, are immediately exercisable and will expire in five and a half years. Funds from this offering will primarily be used for working capital. The company is required to file a resale registration statement by February 27, 2021, with a target for effectiveness by May 18, 2021.

Fuel Tech, Inc. (NASDAQ: FTEK) has announced a private placement of 5 million shares of common stock priced at $5.1625 per share, alongside warrants for an additional 2.5 million shares. This placement is expected to generate gross proceeds of approximately $25.8 million, with the offering set to close around February 17, 2021, pending customary conditions. H.C. Wainwright & Co. is the exclusive placement agent. The securities will not be registered under the Securities Act, necessitating a resale registration statement to be filed within 10 days post-closing.

Fuel Tech, Inc. (NASDAQ: FTEK) has announced that it has regained compliance with the NASDAQ Capital Market's minimum bid price requirement, as confirmed by a notification from the NASDAQ Listing Qualifications Department. This development marks the resolution of the compliance issue, allowing the company to continue trading on the exchange without restrictions. Fuel Tech specializes in advanced engineering solutions for emissions control and water treatment, utilizing proprietary technologies to enhance operational efficiency and sustainability.

Fuel Tech, Inc. (NASDAQ: FTEK) reported a 26.4% revenue increase to $8.2 million for Q3 2020, compared to $6.5 million in Q3 2019. The Air Pollution Control (APC) segment saw a rise in revenues to $2.9 million, while the FUEL CHEM segment generated $5.3 million. Net income reached $2.4 million, or $0.10 per share, reversing a loss from the previous year. However, total cash decreased to $11.8 million from $13.5 million at the prior year-end. The company anticipates a backlog growth of $10 to $15 million from pending projects by year's end.

Fuel Tech, Inc. (NASDAQ: FTEK) announces the release of its third-quarter financial results for the period ending September 30, 2020, scheduled for November 10, 2020, post-market closure. The management will discuss these results during a conference call on November 11, 2020, at 10:00 am ET. Interested parties can join by calling (877) 423-9820 domestically or (201) 493-6749 internationally. Fuel Tech specializes in advanced engineering solutions, focusing on air pollution control, process optimization, and water treatment technologies, with over 1,200 installations worldwide.