Last $3.24 USD
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03/4/14 - $7.37
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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. The company's 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 (OFA) 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 technologies. Its 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), sulfur dioxide, 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. Fuel Tech, Inc. was founded in 1987 and is headquartered in Warrenville, Illinois.

198 Employees
Last Reported Date: 03/10/14
Founded in 1987

fuel tech inc (FTEK) Top Compensated Officers

Executive Chairman, Chief Executive Officer a...
Total Annual Compensation: $450.0K
Chief Financial Officer, Senior Vice Presiden...
Total Annual Compensation: $290.0K
Chief Operating Officer and Executive Vice Pr...
Total Annual Compensation: $345.0K
Senior Vice President, General Counsel and Se...
Total Annual Compensation: $265.0K
Executive Vice President of Sales & Marketing
Total Annual Compensation: $335.0K
Compensation as of Fiscal Year 2013.

fuel tech inc (FTEK) Key Developments

Fuel Tech, Inc. Wins Multiple Air Pollution Control Contracts from Customers in China, Europe and the US

Fuel Tech, Inc. announced the receipt of multiple air pollution control (APC) contracts from customers in China, Europe and the US. These awards have an aggregate value of approximately $3.6 million. The first US order is for an Electrostatic Precipitator (ESP) retrofit on a coal-fired unit in the Midwest where the scope includes ESP modeling, along with engineering and equipment to improve the safety and reliability of the unit. Delivery of the equipment is scheduled for the first quarter of 2015. The project is designed to improve the performance of the plant to meet the Environmental Protection Agency's upcoming Mercury and Air Toxics Standards (MATS) for particulate emissions. A second US contract is for a NOxOUT Selective Non-Catalytic Reduction (SNCR) system for a coal-fired boiler at a power generation facility under an Environmental Protection Agency (EPA) Consent Decree. This same facility issued an order for an ULTRA system earlier in 2014. Fuel Tech’s ULTRA process provides for the safe and cost-effective on-site conversion of urea to ammonia for use as a reagent in the selective catalytic reduction (SCR) of NOx, eliminating the hazards associated with the transport, storage and handling of anhydrous or aqueous ammonia. Delivery of the SNCR system is scheduled for second quarter 2015. In China, two orders were received for ULTRA systems that will be installed at both coal-fired and gas-fired power plants being retrofitted with nitrogen oxide (NOx) reduction technology. Additional contract awards in China are for Fuel Tech’s HERT High Energy Reagent Technology and NOxOUT Selective Non-Catalytic Reduction (SNCR) systems for multiple coal-fired boilers at power generation and petrochemical facilities. Equipment deliveries for this group of orders are expected to occur in the fourth quarter of 2014 and in the first quarter of 2015. A contract was also received for an industrial facility in France. The SNCR system is scheduled for delivery in the first quarter of 2015.

Fuel-Tech, Inc. Presents at 17th Annual Needham Growth Conference, Jan-14-2015 02:50 PM

Fuel-Tech, Inc. Presents at 17th Annual Needham Growth Conference, Jan-14-2015 02:50 PM. Venue: New York Palace Hotel, 455 Madison Avenue, New York, New York, United States. Speakers: David S. Collins, Chief Financial Officer, Senior Vice President and Treasurer, Douglas G. Bailey, Executive Chairman, Chief Executive Officer and President.

Fuel-Tech, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Tax Guidance for the Remainder of 2014 and Revenue Guidance for Full Year of 2015

Fuel-Tech, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported revenues of $21,482,000 against $33,555,000 a year ago. Operating income was $1,441,000 against $5,335,000 a year ago. Income before income taxes was $1,129,000 against $5,248,000 a year ago. Net income was $1,192,000 against $3,480,000 a year ago. Diluted earnings per share were $0.05 against $0.15 a year ago. EBITDA was $2,234,000 against $6,038,000 a year ago. Adjusted EBITDA was $2,703,000 against $6,580,000 a year ago. Favorable results in the third quarter reflected seasonally higher FUEL CHEM sales and associated gross margin, which offset declines in APC segment revenue and associated gross margins. For the nine months, the company reported revenues of $60,333,000 against $85,131,000 a year ago. Operating loss was $367,000 against operating income of $7,504,000 a year ago. Loss before income taxes was $794,000 against profit before tax of $7,227,000 a year ago. Net loss was $614,000 against net income of $4,695,000 a year ago. Diluted loss per share was $0.03 against diluted earnings per share of $0.21 a year ago. Net cash provided by operating activities was $1,403,000 against net cash used in operating activities of $616,000 a year ago. Purchases of property, equipment and patents were $2,141,000 against $1,611,000 a year ago. EBITDA was $1,708,000 against $9,554,000 a year ago. Adjusted EBITDA was $3,402,000 against $10,761,000 a year ago. Revenues in both periods are down from the prior year, principally due to a drop in APC segment revenues, which will cover in detail in just a moment. The company continues to expect to see a long-term effective tax rate between 38% and 43%, but look for the remainder of 2014 to be low due to projected income levels. For 2015, the company expects to see improved bookings and revenue from APC segment, and FUEL CHEM segment revenue is expected to grow modestly. The company will continue to monitor SG&A spending and expect the turn in expense levels to continue into 2015. Finally, spending on the CARBONITE business is expected to increase in 2015 around the developments of various technology applications, and will continue to provide directional updates in subsequent quarters.


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