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Fuel Tech Announces FUEL CHEM® Commercial Contract for a New Domestic Utility Customer
WARRENVILLE, Ill., Oct. 22, 2024 (GLOBE NEWSWIRE) -- Fuel Tech, Inc. (NASDAQ: FTEK), a technology company using advanced engineering processes to provide
About this update from Fuel Tech, Inc.
[{"type":"text","content":"WARRENVILLE, Ill., Oct. 22, 2024 (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 commencement of a new commercial program using the Company’s proprietary TIFI® Targeted In-Furnace Injection™ technology for a large coal-fired boiler at a Midwest United States utility. This order comes after a demonstration of the Company’s TIFI® technology at this unit over the past several months. The annual revenue potential from this contract is projected to be approximately $1.5 to $2.0 million based on the customer running the program full-time, with the revenue expected to generate historic FUEL CHEM® gross margins. During the demonstration, the TIFI® chemical program improved boiler availability and reliability, and reduced maintenance downtime for off-line boiler cleaning in order to maximize the power generation profile of this unit. Vincent J. Arnone, Chairman, President and Chief Executive Officer, commented, “We are pleased to announce the conversion of this TIFI® demonstration to a commercial contract at a new coal-fired unit. Our proprietary approach to fireside treatment has demonstrated significant operational improvements including reduced maintenance downtime and longer sustained runtimes when the boiler operates at high load factors. We are excited that our program is providing cost-effective treatment to support our customer’s power generating needs.” The Company uses its proprietary TIFI® processes to apply specialty chemical programs to units burning a wide variety of fuels, including coal, heavy oil, biomass, and municipal waste. These TIFI® programs incorporate design, modeling, equipment, reagent, and service to provide complete customized on-site programs designed to improve plant operations and provide a return on investment in addition to helping meet emission regulatory requirements. About Fuel TechFuel 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 (NOx) red...