Fuel Tech, Inc. (Nasdaq: FTEK) was awarded multiple air pollution control orders totaling $16.2 million.
Two of the orders, representing $14.5 million, were issued by a major existing electric utility customer in the Southwestern United States and comprise five NOxOUT® Selective Non-Catalytic Reduction (SNCR) systems. These systems will be installed at two power stations firing a blend of lignite and Powder River Basin coals, with component deliveries commencing during the second quarter of 2008 and project completion scheduled for the third quarter.
Separately, an order was also secured from a Southeastern utility alliance partner for installation of a NOxOUT SNCR system on a coal-fired boiler.
John F. Norris Jr., President and Chief Executive Officer, commented, “Following the recent completion of mapping and modeling activities on these five units, we are truly elated to be playing such a pivotal role in the comprehensive nitrogen oxide (NOx) reduction strategy of this Southwestern customer. At $14.5 million, this initiative not only represents a significant combined order, but also a strong commitment to the Company’s technologies. Moreover, when coupled with the order from our Southeastern utility alliance partner and our $3.7 million announcement earlier this month, we have now recorded nearly $20 million in new business since the end of the second quarter and continue to maintain a high level of quotation activity, which should convert to significant orders in the not too distant future.”
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