Summary of Birchtech Conference Call - October 09, 2025 Company Overview - **Company**: Birchtech (OTCPK:BCHT) - **Industry**: Clean Air and Clean Water Technologies Key Points Regulatory Environment - Strong regulatory support from MATS regulations and water purification regulations being adopted at state and national levels [1][2] Growth Opportunities - Three main growth areas identified: expanding business, defending intellectual property, and growth in clean water technologies [1] - Clean air business is expected to grow with settlements from power plants using Birchtech's technology [1][3] Intellectual Property and Legal Matters - Significant patent value in clean air technologies, with $35 million collected and a request for $160 million in final settlement from a federal court case [2][4] - Ongoing litigation with settlements expected in the coming months, with a strong track record of favorable outcomes [4][5] Clean Water Technologies - Expertise in granular activated carbon (GAC) seen as a key growth area, with over 50% of states adopting PFAS limits, creating a multi-billion dollar market opportunity [2][5] - Plans to build a reactivation facility expected to be operational by the end of 2026 [3][6] Financial Projections - Revenue run rate could reach upwards of $40 million by the end of 2026, with a base estimate of $18 million for 2025 [3][4] - Projected profit margins for GAC expected to be between 30% to 50% [6] Market Positioning - Birchtech is well-positioned to lead in solutions for PFAS and PFO pollution, with a focus on cost-effective water purification technologies [7][9] - The company has established analytical labs and design centers to support utilities in meeting regulatory requirements [9][12] Upcoming Catalysts - Anticipation of final judgment from the U.S. federal court by the end of the year, with a jury award of $57 million [12][13] - First commercial sales in the water treatment market expected in Q4 2025, with a solid sales pipeline [13][24] Strategic Initiatives - Plans to uplist to a major U.S. exchange, targeting the New York Stock Exchange by the end of the year [14][23] - Increased focus on building relationships with utilities and engineering firms to enhance market penetration [20][24] Environmental Impact - Birchtech emphasizes the environmental benefits of reactivating carbon rather than producing new carbon, significantly reducing emissions [10][11] Conclusion - Birchtech is at a pivotal stage with significant developments expected in the coming months, including new partnerships, product launches, and potential legal settlements [31]

Core Insights - Fuel Tech, Inc. has received air pollution control (APC) orders valued at approximately $3.2 million from customers in the US, Europe, and Southeast Asia [1] Group 1: Orders and Customers - A repeat domestic customer has placed an order for a Selective Catalytic Reduction (SCR) system and an aqueous ammonia reagent delivery system for a new production plant in the Western US, marking the sixth order from this customer in two decades, with expected deliveries in Q3 2026 [2] - An existing customer in Europe has ordered an aqueous ammonia delivery and injection system for renewable energy facilities aimed at supporting green hydrogen production, with deliveries also expected in Q3 2026 [3] - A new global refinery customer in Southeast Asia has ordered an SCR system using anhydrous ammonia, with deliveries expected in Q4 2025 [4] Group 2: Company Overview and Technology - Fuel Tech specializes in advanced engineering processes for emissions control and water treatment technologies, enabling cost-effective and environmentally sustainable operations [5] - The company is a leader in nitrogen oxide (NOx) reduction and particulate control technologies, with over 1,300 installations worldwide [5] - Fuel Tech's FUEL CHEM® technology enhances combustion unit efficiency and environmental status by managing slagging, fouling, corrosion, and opacity [5] - The company also offers DGI® Dissolved Gas Infusion Systems for various applications in water and wastewater industries, utilizing patented technologies for effective treatment [5]

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]