Fuel Tech, Inc. · NASDAQ:FTEK
Fuel Tech — Investor Presentation (September 2023)
20 slides from Fuel Tech's investor presentation, Sep 12, 2023
Slide 1: Emissions Control, Water Treatment Investor Presentation
Emissions Control Clean Air and Pure Water Technologies for a Sustainable Future Water Treatment pa ee | Investor Presentation September 2023 NASDAQ; FTEK
Slide 2: Safe Harbor
Safe Harbor ‘This presentation contains “erwaroking statements” as defined in Section 21€ of the Seuttis Exchange Act o 1934, a5 amended, which are made pursuant tothe safe harbor provisions ofthe Private Securities Ugntion Reform Act of 1995 and refet Fuel Tee's current expectations rearing future
Slide 3: Fuel Tech: At a Glance
Fuel Tech: At a Glance Three Distinct Operating Platforms 30+ Year History of. Service and Accountability rudltecn ‘Strong Operating and Financial Profile ae Ar Pollution Control & FUEL CHEM / Chemical Technologies DDGI* Dissolved Gas Infusion Emissions Control Solutions Installed in 27 Countries 4,
Slide 4: Investment Thesis
Investment Thesis kt Pe e 4 Portfolio of solutions that optimize combustion systems, emissions control, and water treatment in industrial and utility applications Global leader in nitrogen oxide (NO,) reduction technologies; also address SO,, ‘ABS, PM2.5, and CO} Technologies that are applicable acr
Slide 5: Business Highlights ($ in MMs)
Business Highlights ($ in MMs) Expect higher APC revenues for FY 2023 vs. FY 2022 CSAPR revisions (March 2023) could drive new APC orders (NOx control) over the next several years, beginning in 2024 FUEL CHEM revenues expected to decline in 2023 from 2022 due to customer-related outages and reduced
Slide 6: Diverse, Customizable and Low Cap-Ex Solutions for Emissions Control
Diverse, Customizable and Low Cap-Ex Solutions for Emissions Control ru Ten > ASER®: Advanced SCR: Combines LNB, OFA, SNCR, AIG, (GSG™ + Catalyst > AIG: Ammonis Injection Grid > 656": Graduates Svaightening Grd > HERT™: High Eneray Reagent Technology™ >INB: Low NO, Burners > NO,OUT:SNCRusing high mo
Slide 7: Computational Fluid Dynamics
Computational Fluid Dynamics Custom Process Modeling Used to Support All Customer Applications Proprietary Software with Strong IP Protection; Patented Technology + Provides an intuitive interaction between the Models and Design Engineers Computational Fluid Dynamics (CFD) Model + Customized for eac
Slide 8: FUEL CHEM / Chemical Technologies
FUEL CHEM® / CHEMICAL TECHNOLOGIES rudbfecn that Drive Ope |, Financial, and Environ Benefits Boller Efficiency! Reduces slag, and a variety of pollutants and Greenhouse Gases + Mercury / $0, & Acid Plume Issues / Ammonium Bisuifate (ABS) / CO and CO, = Customers may burn lower grade coal (fuel flex
Slide 9: FUEL CHEM / Chemical Technologies: Delivering Improved ROI
FUEL CHEM® / CHEMICAL TECHNOLOGIES rublvecn Delivering improved RO! sity / efcency Gains ut lei Maintenance Benefits / Reliability Gains Heat Rate Improvements " Labor & Equipment Cost Savings & el HK Increase Increase Increase 1 MW per uni of fuel input (or + Equinmentlfe + Profits, by allowing + P
Slide 10: FUEL CHEM / Chemical Technologies: TIFI BIO Program
FUEL CHEM® / CHEMICAL TECHNOLOGIES TiFI® BIO Program Treatment Benefits Targeting the Furnace, Not the Fuel Boller Before TIFT" Bio Boiler After TIFT Bio Yard Waste * Demo Waste * Logging & Mill Residue Wood Chips * Switch Grass * Forest Residue Up to 40% Reduction in Downtime
Slide 11: TIFI Programs Mitigate SO3, Mexico Opportunity
FUEL CHEM® / CHEMICAL TECHNOLOGIES TIFI® Targeted In-Furnace Injection™ Programs Mitigate SO, Punta Prieta / La Paz, Mexico rubitecn Long-Term Opportunity Before TIF! After TIFI 6 Hours Later Camis Federal de lecreéas- Pursuing opportunities with partner in Mexico to burn high-sulfur fuel il produce
Slide 12: Air Pollution Control Segment
Air Pollution Control Segment Expect higher APC revenues for FY 2023 vs. FY 2022 Low cap-ex solutions for NO, and Particulate Control 30% -95% emissions reduction Capital project / fixed price sale with turn-key capabilities Typical customers: fossil fuel-fred utilities and industrial boilers, Pursu
Slide 13: Air Pollution Control Segment: ESP Conditioning
(f) Air Pollution Control Segment rusitecn SO, PM, Injection of 50, and ammonia into flue gas. toimprove operation of Electrostatic Precoitators (ESPs) TIFT Targeted In-Furnace Inject ‘80, reductions of 75% ROLOF 4:1 Reduces flyash resistivity and improves ESP capture of fine particulate for reduced
Slide 14: Air Pollution Control Segment: Integrated NOx Reduction System
(f) Air Pollution Control Segment Integrated NOx Reduction System ru Ten Combined technologies, capable of NO, reduction exceeding 95% May be applied as both a retrofit solution for existing units or new generating units High performance with low cap-ex Fuel Tech has installed systems on 800+ units
Slide 15: Flexible, Adaptable APC Solutions Reflect Changing Fuel Source Landscape
Flexible, Adaptable APC Solutions Reflect the Changing Domestic Fuel Source Landscape ruts Renewables Surpass Coal in U.S. Electricity Generation Net generation of U.S. electricity, by source (in TWh) uel Tech Revenue by Fuel Source Coal = Natural gas’ = Nuclear = Renewables ~ Others 2,500 2,000 701
Slide 16: DGI Dissolved Gas Infusion Technology
DGI® Dissolved Gas Infusion Technology Energy Efficient, Cost-effective, and Friendly Water and’ = DGI combines one patented and one patent-pending technology to ensure effective dissolved oxygen (DO) delivery ‘Oxygenation technology with the highest oxygen transfer efficiency available on the marke
Slide 17: DGI Dissolved Gas Infusion Technology: Multiple System Benefits
& DGI® Dissolved Gas Infusion Technology Multiple System Benefits Precise control of dissolved oxygen levels ¢ Extends plant capacity without major expansion or capital outlay — Minimizes in-basin connections and maintenance Helps reduce odors Dissolved gas technology minimizes bubble formation ty W
Slide 18: DGI Dissolved Gas Infusion Technology: Pilot Study
DGI® Dissolved Gas Infusion Technology Pilot Study Commenced Q2 2023, Small-scale DGI system deployed at aquaculture setting in the western US Applying optimized, high-levels of Dissolved Oxygen (150% saturation) to improve operational productivity and efficiency Initial data suggest a positive effe
Slide 19: Financial Overview ($ in Thousands)
Financial Overview ($ in Thousands) Revenues $5,461 $6,368 $26.941 | $24,261 Cost of Sales $3,465 $3,690 $15,298 | $12,363, Selling, general and administrative expenses $2,915 $2874 $12,275 | $12,085 Operating loss 9(2,332) (485) (1,527) |_$(1,489) Net loss (2048) $(856) (2.442) $54 "Net income (los
Slide 20: Thank You
Thank You Vinee Arnone Chairman, President and CEO (630) 845-4500 varnone@ftek com Devin Sullivan Managing Director Conor Rodriguez Analyst