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 a long-term
agreement with Martin Marietta Magnesia Specialties, LLC for the supply
of chemicals used in the Company’s U.S. and
Canadian FUEL CHEM®
programs. The contract goes into effect January 1, 2009 to coincide with
the expiration of the existing agreement that expires on December 31,
2008.
John F. Norris Jr., President and Chief Executive Officer, commented, “Securing
a stable, long-term supply of high-quality magnesium hydroxide has been
a priority of utmost importance this year. This new contract will
satisfy accelerating chemical demand for our FUEL CHEM programs,
particularly as we add new functionality to our proprietary TIFI™
Targeted In-Furnace Injection™ technology and
add new customer accounts at a record pace.”
Mr. Norris concluded, “Martin Marietta
Magnesia Specialties has been an outstanding business partner and we
look forward to fostering this relationship further as Fuel Tech’s
demand for magnesium hydroxide increases both in the United States and
Canada. In addition to meeting our expanding product needs, this highly
dependable supplier continues to satisfy both Fuel Tech’s
and our clients’ requirements for customer
service and technical support.”
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 both 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 100 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.
The Company also provides a range of services to help optimize selective
catalytic reduction system performance, including catalyst management
services and ammonia injection grid tuning. In addition, flow corrective
devices and physical and computational modeling services are available
to optimize flue gas distribution and mixing in both power plant and
industrial applications.
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
web site 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.
Fuel Tech, Inc.
John P. Graham, 630-845-4500
Chief Financial
Officer
or
Tracy H. Krumme, 203-425-9830
Vice President,
Investor Relations
