FTEK Fuel-Tech N.V. Awarded Multiple NOxOUT(R) Orders Totaling $4.6 Million
Business Wire - November 7, 2005 7:30 AM (EDT)
STAMFORD, Conn., Nov 07, 2005 (BUSINESS WIRE) -- Fuel-Tech N.V. (Nasdaq: FTEK), a world leader in advanced engineering solutions for the optimization of combustion systems in utility and industrial applications, today announced five orders for NOxOUT(R) projects totaling $4.6 million. Two of the installations are for NOxOUT ULTRA(R) systems, while the other three represent a NOxOUT(R) Selective Non-Catalytic Reduction (SNCR) installation and two NOxOUT SNCR design engineering orders.
Of the two NOxOUT ULTRA systems, one is scheduled for delivery in 2007 on a 175 megawatt coal-fired boiler, representing the fourth such order placed by this major Midwestern utility. The second system will be installed on a new, small gas turbine located at a prominent educational institution in California. The NOxOUT ULTRA process, which is proprietary to Fuel Tech, safely produces ammonia reagent for use in the selective catalytic reduction (SCR) of nitrogen oxide.
In Florida, a NOxOUT SNCR system will be installed on a new, large municipal solid waste (MSW) combustor operated by Covanta Energy Corporation, with equipment deliveries scheduled for 2006. Elsewhere in the Southeastern U.S., two NOxOUT SNCR design engineering orders for coal-fired units were placed by major utilities, one an alliance partner and the other an existing customer.
Steven C. Argabright, President and Chief Operating Officer, commented, "We are very pleased with this highly diverse group of air pollution control orders. Our NOxOUT ULTRA process is being viewed increasingly as a preferred technology for the safe and cost-effective conversion of urea to ammonia, and is now being recognized by both large and small users in a variety of utility and industrial applications. The MSW NOxOUT order reflects a growing trend in new waste-to-energy facility construction as existing landfill capacity becomes exhausted and new landfills must often be constructed in more isolated areas, increasing haulage costs and making them less competitive. Lastly, as always, we are very pleased to receive additional business from existing customers and fully expect these design engineering releases to result in equipment orders in the future."
About Fuel-Tech N.V.
Fuel-Tech N.V. is a leading technology company engaged in the worldwide development, commercialization and application of state-of-the-art proprietary technologies for air pollution control, process optimization, and advanced engineering services. The Company's nitrogen oxide (NOx) reduction processes, which include the NOxOUT(R), NOxOUT CASCADE(R), NOxOUT ULTRA(R), Rich Reagent Injection (RRI) and NOxOUT SCR(R) technologies, have established Fuel-Tech N.V. as a leader in post-combustion NOx control systems, which are installed on over 340 units worldwide.
New technologies that have grown out of the core NOx reduction business form the basis of the FUEL CHEM(R) business. FUEL CHEM technology revolves around the unique application of chemicals to improve the performance of combustion units by controlling slagging, fouling, corrosion and opacity. The Company's FUEL CHEM products are being applied to over 80 combustion units burning a wide variety of fuels including coal, heavy oil, biomass, and municipal waste. Both the NOx reduction and FUEL CHEM businesses rely heavily on the Company's exceptional Computational Fluid Dynamics modeling skills, which are enhanced by internally developed, high-end visualization software. For more information, visit Fuel-Tech N.V.'s web site at www.fueltechnv.com.
This press release contains statements of a forward-looking nature regarding future events. These statements are only predictions and actual events may differ materially. Please refer to documents that Fuel Tech files from time to time with the Securities and Exchange Commission for a discussion of certain factors that could cause actual results to differ materially from those contained in the forward-looking statements.
SOURCE: Fuel-Tech N.V.
Fuel-Tech N.V.
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