12 November 2002 – Fuel-Tech N.V. announced Monday that it has received a Letter of Intent to provide its NOxOUT Selective Non-Catalytic Reduction (SNCR) technology on a turnkey basis to a major university co-generation facility.
The technology will be installed on three units, two which produce 250 000 lbs/hour steam and one which produces 350 000 lbs/hour. The project, valued in excess of $2.5m, is expected to be operational by September 2003.
Steven C. Argabright, President and Chief Operating Officer of Fuel Tech, commented, “We are extremely pleased with the high level of interest our NOx reduction business is generating, which continues to result in booked orders. This booking is particularly gratifying as it represents another repeat order from a satisfied customer. These orders are the result of the pending deadline of the State Implementation Plan (SIP) Call, which requires significant NOx reductions from utility and industrial units in nineteen states. Going forward, we are confident that with our proven proprietary technology and acceptance in the market, we are poised to capitalize on the additional opportunities presented by this regulation.”
Mr. Argabright concluded, “In addition, we are encouraged by the rate at which we are receiving orders for our advanced design engineering services and for the installation of our NOxOUT systems. In just the last three weeks, we have announced nine orders which total in excess of $7 million. Four of the orders were for our advanced design and engineering services, which carry a low contract value, but are important as they are usually precursors to the award of full installation contracts for our NOxOUT systems. We are confident that these orders will continue to lead to increased business among industrial and utility operators who are faced with increasing pressure to comply with the May 2004 deadline mandated by the SIP Call.”
Fuel-Tech N.V. is a 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.