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Last $1.92 USD
Change Today -0.0663 / -3.33%
Volume 25.5K
FTEK On Other Exchanges
As of 12:35 PM 07/28/15 All times are local (Market data is delayed by at least 15 minutes).

fuel tech inc (FTEK) Snapshot

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08/6/14 - $5.61
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07/28/15 - $1.92
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fuel tech inc (FTEK) Details

Fuel Tech, Inc. provides boiler optimization, efficiency improvement, and air pollution reduction and control solutions to utility and industrial customers worldwide. It operates in two segments, Air Pollution Control Technology and FUEL CHEM Technology. The Air Pollution Control Technology segment reduces nitrogen oxide (NOx) emissions in flue gas from boilers, incinerators, furnaces, and other stationary combustion sources by utilizing low and ultra low NOx burners; over-fire air systems; NOxOUT and HERT selective non-catalytic reduction systems; advanced selective catalytic reduction (SCR) systems; NOxOUT CASCADE and NOxOUT-SCR processes; ULTRA technology; and ammonia injection grid and graduated straightening grid systems. The FUEL CHEM Technology segment improves the efficiency, reliability, 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 unburned carbon in fly ash through the addition of chemicals into the furnace using TIFI targeted in-furnace injection technology. This segment offers its FUEL CHEM program for plants operating in the electric utility, industrial, pulp and paper, waste-to-energy, university, and district heating markets, as well as to the owners of boilers, furnaces, and other combustion units. The company was founded in 1987 and is headquartered in Warrenville, Illinois.

198 Employees
Last Reported Date: 03/16/15
Founded in 1987

fuel tech inc (FTEK) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $345.0K
Executive Chairman
Total Annual Compensation: $450.0K
Chief Financial Officer, Senior Vice Presiden...
Total Annual Compensation: $290.0K
Senior Vice President of Fuel Conversion Mark...
Total Annual Compensation: $335.0K
Senior Vice President, General Counsel and Se...
Total Annual Compensation: $265.0K
Compensation as of Fiscal Year 2014.

fuel tech inc (FTEK) Key Developments

Fuel Tech, Inc. Adopts and Approves Company's Amended and Restated By-Laws

On May 28, 2015, the Board of Directors of Fuel Tech, Inc. adopted and approved the Company's Amended and Restated By-Laws. The amendments incorporated in Article II and Article III of the Amended and Restated By-Laws establish an orderly and efficient process for stockholders seeking to propose business or nominate directors at an annual or special meeting of the Company's stockholders. As part of the process, stockholders seeking to propose business or nominate directors at any meeting of the Company's stockholders must provide information relevant to the Company's and stockholders' evaluation of the proposed business or nomination. A forum selection provision was added to Article VI of the Amended and Restated By-Laws. Pursuant to the forum selection provision, unless the Company consents in writing to the selection of an alternative forum, the Court of Chancery of the State of Delaware (or, if such court does not have jurisdiction, the United Stated District Court for the State of Delaware) shall, to the fullest extent permitted by law, be the sole and exclusive forum for: (a) any derivative action or proceeding brought by or in the name of the Company; (b) any action asserting a claim of breach of a fiduciary duty owed by any director, officer, employee, agent or affiliate of the Company to the Company or to the Company's stockholders; (c) any action arising pursuant to any provision of the Delaware General Corporation Law or the Company's Certificate of Incorporation or the Amended and Restated By-Laws (each as may be amended from time to time); or (d) any action asserting a claim against the Company governed by the internal affairs doctrine. Furthermore, Article VI, Section 6.10 of the Amended and Restated By-Laws provides that, if any action the subject matter of which is within the scope of the preceding sentence is filed in a court other than a court located in the State of Delaware (a Foreign Action") in the name of any stockholder, such stockholder shall be deemed to have consented to (i) personal jurisdiction of the state and federal courts located within the State of Delaware in connection with any action brought in any such court to enforce the preceding sentence and (ii) having service of process made upon such stockholder in any such action by service upon such stockholder's counsel in the Foreign Action as agent for such stockholder. In addition, further amendments incorporated in the Amended and Restated By-Laws include provisions (i) establishing an orderly and efficient process for stockholders to request a record date for determining the stockholders entitled to take action by written consent without a meeting of the stockholders, (ii) providing that only the Board is authorized to determine the size of, and fill vacancies on, the Board and (iii) regarding the procedures for conducting stockholder meetings and other technical changes to the Company's By-Laws.

Fuel-Tech, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Effective Tax Rate Guidance for the Year 2015

Fuel-Tech, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, revenues were $15,103,000 as compared to $18,661,000 a year ago. Operating loss was $2,409,000 as compared to $1,137,000 a year ago. Loss before taxes was $2,525,000 as compared to $1,185,000 a year ago. Net loss was $1,654,000 or $0.07 per diluted share against net loss of $1,086,000 or $0.05 per diluted share a year ago. Net cash provided by operating activities was $1,115,000 against net cash used in operating activities of $1,841,000 a year ago. Purchases of property, equipment and patents were $276,000 as compared to $322,000 a year ago. Adjusted LBITDA was $1,163,000 against $43,000 a year ago. Consolidated revenues, reflecting slower U.S. activity within Air Pollution Control ("APC") technology segment, including an anticipated reduction in activity from a large project in Chile that is nearing completion. For the year 2015, the company currently expects full year effective tax rate to be 37.5%, but tax rate may change significantly due to geographic mix of income and the impact of permanent items on overall effective tax rate. The company expects to continue to generate cash from operating activities throughout 2015.

Fuel Tech Wins Air Pollution Control Orders Totaling $8.3 Million

Fuel Tech, Inc. announced the receipt of multiple air pollution control (APC) contracts from customers in Europe and China. These awards have an aggregate value of approximately $8.3 million. In the UK, a commercial contract for Fuel Tech’s Advanced NOxOUT® Selective Non-Catalytic Reduction (ASNCR) technology was received for multiple large coal-fired units burning both coal and biomass. Fuel Tech received this contract following the demonstration of new ASNCR technology last year at this same plant location. The ASNCR system utilizes proprietary injectors and injection controls in combination with advanced temperature measurement techniques to provide nitrogen oxide (NOx) reduction efficiency well beyond conventional SNCR in difficult furnace environments. Equipment delivery is expected to occur in the fourth quarter of 2015. In addition, an order was received for SNCR technology for a refinery unit in Italy with delivery scheduled for the third quarter of 2015. Fuel Tech’s ASNCR solution targets utility and industrial unit owners faced with the challenge of having to meet increasingly stringent regulatory requirements, and further enhances portfolio of cost-effective environmental solutions. As an example, on units burning municipal solid waste, ASNCR has achieved NOx reduction levels of approximately 80%, which is a significant improvement over conventional SNCR systems where NOx reduction can range from 50 to 70%. Moreover, at the original NOx outlet level, the ASNCR system reduced reagent consumption by 20%. Through the utilization of advanced control and injection systems in conjunction with more accurate boiler data, ASNCR optimizes urea injection to improve NOx reduction performance and minimize reagent costs.


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