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FUEL TECH LICENSES FLUE GAS CONDITIONING TECHNOLOGY
Batavia, IL, Apr. 4, 2008
Fuel Tech, Inc. (Nasdaq: FTEK), a world leader in advanced engineering solutions for the optimization of combustion systems in utility and industrial applications, today announced that it has signed an exclusive license agreement with privately held FGC Corporation of Westlake, Ohio. The agreement, having an initial term of seven years, allows Fuel Tech to sell flue gas conditioning systems incorporating FGC Corporation technology for utility applications in all geographies outside the United States and Canada.
Flue gas conditioning systems improve the efficiency of particulate collectors, also known as electrostatic precipitators (ESP). There conditioning systems represent a far lower capital cost approach to improving ash particulate capture versus the alternative of installing larger ESP's of fabric filter technology to meet target opacity levels.
FGC Corporation's innovative, patented technology is incorporated in hundreds of flue gas conditioning systems in the United States and (Canada). Global demand for this technology is expected to be strong, partially in the People's Republic of China (PRC), India, Easter Europe, Russia, Mexico, South America and South Africa, where the use of high-ash coals is prevalent.
John Norris Jr., President and Chief Executive Officer, commented, "The licensing of this technology is timely as we are intensifying our efforts to penetrate the large Asian markets, which are experiencing rapid growth in coal-fired electricity generation. In the PRC alone, we believe hundreds of existing coal-fired units represent potential target applications."
Mr. Norris continued, "FGC Corporation's technology provides a low capital cost approach compared with other alternatives, meshes well with the capabilities of our NOx control technologies, and enhances our ability to provide a full spectrum of solutions to meet the air pollution control needs of our customers' combustion units."
Mr. Norris concluded, "We are excited to initiate this relationship with FGC Corporation and gain access to a technology that will not only fill an important niche in our product portfolio, but enable our organization to penetrate more rapidly the fast-growing international markets for particulate-control."
About Fuel Tech
Fuel Tech 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. These technologies enable customers to produce energy and processed materials in a cost-effective and environmentally sustainable manner.
The company's nitrogen oxide (NOx) reduction technologies include the NOxOUT, NOxOUT CASCADE, NOxOUT ULTRA, Rich Reagent Injection (RRI) and NOxOUT-SCR processes. These technologies have established Fuel Tech as a leader in post-combustion NOx control systems, with installations on over 450 units worldwide, where coal, municipal waste, biomass, and other fuels are utilized.
The Company's FUEL CHEM technology revolves around the unique application of chemicals to improve the efficiency, reliability, fuel flexibility and environmental status of combustion units by controlling slagging, fouling, corrosion, opacity and acid plume, as well as the formation of sulfur trioxide, ammonium bisulfate, particulate matter (PM2.5), carbon dioxide and NOx. This technology, in the form of a customizable FUEL CHEM program, is being applied to over 90 combustion units burning a wide variety of fuels including coal, heavy oil, biomass, and municipal waste. A breakdown of the nature of these customer units is posted on the Company's website.
Many of Fuel Tech's products and services rely heavily on the Company's exceptional Computational Fluid Dynamics modeling capabilities, which are enhanced by internally developed, high-end visualization software. These capabilities, coupled with the Company's innovative technologies and multi-disciplined team approach, enable Fuel Tech to provide practical solutions to some of our customers’ most challenging problems. For more information, visit Fuel Tech's website at www.ftek.com.
This press release may contain 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.
