Fuel Tech, Inc. (NASDAQ:FTEK) Q1 2021 Earnings Conference Call May 13, 2021 10:00 AM ET Company Participants Devin Sullivan - Investor Relations Vince Arnone - President and Chief Executive Officer Ellen Albrecht - Principal Financial Officer Conference Call Participants Sameer Joshi - H.C. Wainwright Pete Enderlin - MAZ Partners George Gaspar - Private Investor Operator Greetings. Welcome to the Fuel Tech First Quarter 2021 Financial Results Conference Call. At this time, all participants are in a listen-o ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to______. Commission file number: 001-33059 FUEL TECH, INC. (Exact name of registrant as specified in its charter) Delaware 20-5657551 (State or other ...

Financial Data and Key Metrics Changes - Consolidated revenues for Q4 2020 increased by 26.5% to $6.2 million from $4.9 million in Q4 2019, reflecting higher revenue from both APC and FUEL CHEM segments [40] - Consolidated gross margin for Q4 2020 was 41.9%, compared to 0.1% in Q4 2019, which was impacted by a $2 million warranty charge [44] - Net loss from continuing operations for Q4 2020 was $1.5 million, or a loss of $0.07 per share, compared to a net loss of $2.3 million, or $0.10 per share, in Q4 2019 [47] Business Line Data and Key Metrics Changes - APC segment revenues increased to $2.5 million from $1.7 million, primarily due to project timing and completions [41] - FUEL CHEM segment revenues rose to $3.7 million from $3.2 million, driven by the installation of equipment on new coal-fired units and recovery of more normalized run rates [43] - APC backlog at the end of Q4 2020 was $5.3 million, with $4.9 million being domestic [41] Market Data and Key Metrics Changes - The global sales pipeline is estimated at approximately $40 million to $50 million, with about $25 million domestic and $15 million international, primarily in Europe [84] - The company is monitoring state-level activities related to new environmental guidelines that may create opportunities for retrofitting emissions control technology [20] Company Strategy and Development Direction - The company aims to return its base business segments to profitability while focusing on the commercial development of DGI Technology [15][36] - Plans include maintaining a lean operating structure and aligning SG&A closely with anticipated growth, with annual breakeven revenue estimated between $25 million and $30 million [38] - The company is exploring strategic solutions to expedite market discovery of DGI Technology and assess business landscapes for APC and FUEL CHEM segments [14][15] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding the outlook for 2021, despite challenges related to contract awards and the lingering impact of COVID-19 [10][11] - The company expects an increase in APC project award activity and moderate revenue improvement compared to 2020 [22][36] - Management is closely watching the actions of the Biden administration but does not anticipate immediate material impacts on business activities [20] Other Important Information - The company raised gross proceeds of $25.8 million in February 2021, resulting in approximately $37 million in cash and no debt [12] - The company has a cumulative net operating loss of $25.5 million, which is expected to result in minimal income tax expense for 2021 [52] Q&A Session Summary Question: What are the particular areas of focus for 2021? - The company is focusing on the development and commercialization of DGI Technology and returning base business segments to profitability [59] Question: What is the visibility in terms of timeline for revenues from Mexico? - The company expects to see some revenues from Mexico in 2021, but the exact timeline is uncertain [65][70] Question: How does the sales pipeline compare to previous years? - The current sales pipeline is slightly smaller than historically, lacking larger contract value opportunities [74][76] Question: What is the current reserve for doubtful accounts related to China? - The reserve for doubtful accounts in China is approximately $1 million against a total possible collectability of about $2 million [100][101]

Table of Contents SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________ Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-33059 ______________________________ Fuel Tech, Inc. (Exact name of registrant as specified in it ...

Fuel Tech, Inc. (NASDAQ:FTEK) Q3 2020 Earnings Conference Call November 11, 2020 10:00 AM ET Company Participants Devin Sullivan - SVP, The Equity Group Vincent Arnone - Chairman, President and CEO Ellen Albrecht - Principal Financial Officer Conference Call Participants Amit Dayal - H.C. Wainwright Pete Enderlin - MAZ Partners George Gaspar - Private Investor Operator Greetings, and welcome to the Fuel Tech Third Quarter 2020 Financial Results Conference Call. At this time, all participants are in a listen ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to______. Commission file number: 001-33059 FUEL TECH, INC. (Exact name of registrant as specified in its charter) Delaware 20-5657551 (State or ot ...

Fuel Tech, Inc. (NASDAQ:FTEK) Q2 2020 Earnings Conference Call August 12, 2020 10:00 AM ET Company Participants Devin Sullivan - SVP, The Equity Group Vincent Arnone - Chairman, President and CEO Ellen Albrecht - Principal Financial Officer Conference Call Participants Amit Dayal - H.C. Wainwright Jim McIlree - Bradley Woods Pete Enderlin - MAZ Partners Operator Greetings, and welcome to the Fuel Tech, Inc. Second Quarter 2020 Financial Results Conference Call. [Operator Instructions]. As a reminder, this c ...

Financial Performance - Revenues for the three and six month periods ending June 30, 2020 were $4,401 and $8,948, representing a decrease of $4,547 or 51% and $10,924 or 57% compared to the same periods in 2019[96] - The Air Pollution Control (APC) technology segment generated revenues of $1,937 and $3,133, reflecting a decrease of $2,866 or 60% and $7,459 or 70% from the prior year[97] - Consolidated gross margin percentage for the three and six month periods ended June 30, 2020 were 14% and 26%, significantly reduced from 44% and 41% in 2019[100] - Selling, general and administrative expenses (SG&A) were $2,755 and $6,641 for the three and six month periods ended June 30, 2020, with SG&A as a percentage of revenues increasing to 63% and 81% from 50% and 47% in 2019[101] - The company recorded losses from continuing operations totaling $5,111 for the six month period ended June 30, 2020, with cash used from continuing operations amounting to $3,414[106] Research and Development - Research and development expenses for the three and six month periods ended June 30, 2020 were $271 and $595, focused on new product development and technologies outside traditional markets[104] Cash and Financing - As of June 30, 2020, the company had a cash balance of $11,257, including restricted cash of $3,003, and working capital totaled $12,133[107] - The company received $1,556 in loan proceeds from the Paycheck Protection Program (PPP) on April 15, 2020, with a 1.0% interest rate and a two-year term[113] Backlog and Orders - Consolidated APC backlog at June 30, 2020 was $8,321, down from $9,671 at December 31, 2019, indicating a decline in project execution and new orders[98] Taxation - The company is projecting a consolidated effective tax rate of approximately 3% for 2020, significantly lower than the federal income tax rate of 21%[105]

Fuel Tech, Inc. (NASDAQ:FTEK) Q1 2020 Earnings Conference Call May 13, 2020 10:00 AM ET Company Participants Devin Sullivan - The Equity Group Vincent Arnone - Chairman, CEO & President Ellen Albrecht - Acting Treasurer, Controller & Principal Financial Officer Conference Call Participants Amit Dayal - H.C. Wainwright & Co. Peter Enderlin - MAZ Capital Advisors Operator Greetings, and welcome to the Fuel Tech's First Quarter 2020 Financial Results Conference Call. [Operator Instructions]. It is now my plea ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Commission file number: 001-33059 FUEL TECH, INC. FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to______. (Exact name of registrant as specified in its charter) (State or other jurisdiction of inco ...