Fuel Tech Awarded Air Pollution Control Orders Totaling $2.9 Million

Fuel Tech, Inc. (NASDAQ:FTEK), a world leader in advanced engineering solutions for the optimization of combustion systems and emissions control in utility and industrial applications, today announced the receipt of multiple air pollution control (APC) contracts from customers in Europe and China. These awards have an aggregate value of approximately $2.9 million.

An order was received in Europe for a new natural gas-fired unit located in the Pacific Rim which will include Fuel Tech’s Selective Catalytic Reduction (SCR) and ULTRA ® technologies. 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 NO x , eliminating the hazards associated with the transport, storage and handling of anhydrous or aqueous ammonia. Equipment delivery is scheduled for the fourth quarter of 2017.

A contract in China was received for NO x OUT ® Selective Non-Catalytic Reduction (SNCR) systems for two coal-fired utility boilers. Fuel Tech’s SNCR technology is a proven solution as combustion unit owners look to comply with more stringent NO x control requirements. Equipment deliveries are scheduled for completion during the third quarter of 2017.

Vincent J. Arnone, President and Chief Executive Officer, commented, “We have announced approximately $12.0 million in new orders thus far in 2017. Through our ongoing global business developments efforts, we are well-positioned to pursue those opportunities that leverage our ability to provide safe, cost-effective environmental and emission control solutions for units utilizing a variety of fuel sources, including natural gas.”

Fuel Tech is a leading technology company engaged in the worldwide development, commercialization and application of state-of-the-art proprietary technologies for air pollution control, process optimization, and advanced engineering services. These technologies enable customers to produce both energy and processed materials in a cost-effective and environmentally sustainable manner.

The Company’s nitrogen oxide (NO x ) reduction technologies include advanced combustion modification techniques and post-combustion NO x control approaches, including NO x OUT ® , HERT™, and Advanced SNCR systems, ASCR™ Advanced Selective Catalytic Reduction systems, and I-NO x ® Integrated NO x Reduction Systems, which utilize various combinations of these systems, along with the ULTRA ® process for safe ammonia generation. These technologies have established Fuel Tech as a leader in NO x reduction, with installations on over 900 units worldwide.

Fuel Tech’s technologies for particulate control include Electrostatic Precipitator (ESP) products and services including complete turnkey capability for ESP retrofits, with experience on units up to 700 MW. Flue gas conditioning (FGC) systems include treatment using sulfur trioxide (SO 3 ) and ammonia (NH 3 ) based conditioning to improve the performance of ESPs by modifying the properties of fly ash particles. Fuel Tech’s particulate control technologies have been installed on more than 125 units worldwide.

The Company’s FUEL CHEM ® technology revolves around the unique application of chemicals to improve the efficiency, reliability, fuel flexibility, boiler heat rate, and environmental status of combustion units by controlling slagging, fouling, corrosion, opacity and improving boiler operations. The Company has experience with this technology, in the form of a customizable FUEL CHEM program, on over 110 units.

Fuel Tech also provides a range of services, including boiler tuning and selective catalytic reduction (SCR) optimization services. In addition, flow corrective devices and physical and computational modeling services are available to optimize flue gas distribution and mixing in both power plant and industrial applications.

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. These capabilities, coupled with the Company’s innovative technologies and multi-disciplined team approach, enable Fuel Tech to provide practical solutions to some of our customers’ most challenging problems.