Core Insights - Fuel Tech, Inc. has announced the receipt of air pollution control orders valued at approximately $1.4 million from both new and existing customers in the US and Europe [1] Group 1: New Contracts and Orders - A new contract was secured for an ULTRA® system to be installed on a natural gas turbine at a medical facility in the Midwest, with delivery expected in Q4 2025 [2] - An order was received for a Selective Non-Catalytic Reduction (SNCR) system for a biomass-fired unit in Europe, following a successful demonstration project, with delivery scheduled for Q3 2025 [3] - A domestic contract was awarded for advanced engineering services for a biomass unit, marking the first step towards an Advanced Selective Non-Catalytic Reduction (ASNCR) system, with completion expected in Q2 2025 [4] Group 2: Financial Performance and Future Outlook - The company has achieved $4 million in near-term contract wins and $5.6 million in announced bookings year to date, with expectations for additional APC contracts by the end of Q2 2025 [5] Group 3: Company Overview and Technology - Fuel Tech specializes in advanced technologies for air pollution control, process optimization, and water treatment, with a strong focus on nitrogen oxide (NOx) reduction and particulate control [6] - The company’s FUEL CHEM® technology enhances the efficiency and environmental status of combustion units, while its water treatment technologies address various applications in the water and wastewater industries [6]

WARRENVILLE, Ill., March 27, 2025 (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 receipt of air pollution control (APC) orders from new and existing customers in the US and Europe. These orders have an aggregate value of approximately $1.4 million.   A contract was received from a new customer in the US for an ULTRA® ...

Core Viewpoint - Fuel Tech, Inc. has announced the receipt of air pollution control orders valued at approximately $2.6 million from existing customers in the US and Japan, reflecting ongoing demand for its emissions control technologies [1][4]. Group 1: Orders and Contracts - A significant order from Japan involves an ULTRA® system for a natural gas-fired Combined Cycle utility plant, marking the fourth on-site unit for this customer and a follow-on from a 2017 contract [2]. - A domestic order has been received for advanced engineering services from a municipal waste unit customer in the Northeast, aimed at implementing an Advanced Selective Non-Catalytic Reduction (ASNCR) system [3]. - The company anticipates closing additional contracts worth $4 to $5 million by early in the second quarter of 2025, indicating a strong pipeline of opportunities [4]. Group 2: Technology and Services - Fuel Tech specializes in advanced engineering processes for emissions control and water treatment, with a focus on nitrogen oxide (NOx) reduction and particulate control technologies [5]. - The ULTRA process allows for the safe on-site conversion of urea to ammonia, enhancing energy efficiency and reducing hazards associated with ammonia transport and storage [2]. - The company's FUEL CHEM® technology improves combustion unit performance by addressing issues like slagging, fouling, and corrosion, while its water treatment technologies target various environmental applications [5].

Core Viewpoint - Fuel Tech, Inc. reported financial results for Q4 and full year 2024, indicating challenges in revenue generation primarily due to delayed project execution and lower performance in the Air Pollution Control (APC) segment, while the FUEL CHEM segment showed resilience and potential for growth in 2025 [2][3][9]. Financial Performance - Consolidated revenues for Q4 2024 were $5.3 million, down from $6.3 million in Q4 2023, mainly due to lower APC segment revenues [5]. - For the full year 2024, consolidated revenues decreased to $25.1 million from $27.1 million in 2023, driven by lower APC revenues but partially offset by an increase in FUEL CHEM revenues [9][10]. - The net loss for Q4 2024 was $(1.9) million, or $(0.06) per share, compared to a net loss of $(539,000), or $(0.02) per share, in Q4 2023 [6][10]. - The company ended 2024 with approximately $30 million in cash and investments and no long-term debt [2][11]. Segment Performance - The APC segment revenue for Q4 2024 was $1.8 million, down from $2.8 million in Q4 2023, with a gross margin decline to 35.9% from 55.0% [7]. - The FUEL CHEM segment revenue remained steady at $3.5 million, with a gross margin decline to 45.5% from 48.0% in Q4 2023 [8]. - The consolidated gross margin for Q4 2024 was 42.3%, down from 51.1% in Q4 2023, reflecting decreases in both APC and FUEL CHEM gross margins [5]. Future Outlook - The company anticipates improved performance in the FUEL CHEM segment in 2025, driven by normalized chemical program utilization and new commercial programs [3]. - Fuel Tech is pursuing new opportunities in emissions control solutions for data centers and municipal waste combustion units, driven by regulatory requirements [4][3]. - The company plans to showcase its Dissolved Gas Infusion (DGI) technology at Aquaculture 2025, with hopes of generating commercial revenues in 2025 [4]. Geographic Performance - For the year ended December 31, 2024, revenues from the United States were $17.8 million, down from $21.4 million in 2023, while foreign revenues increased to $7.3 million from $5.7 million [33].