Welcome to our dedicated page for Fuel Tech news (Ticker: FTEK), a resource for investors and traders seeking the latest updates and insights on Fuel Tech stock.
Fuel Tech, Inc. reports developments in emissions control, boiler optimization and water treatment technologies for utility and industrial applications. Company news commonly covers financial results, Air Pollution Control awards, Selective Catalytic Reduction projects, and activity in the FUEL CHEM® segment, which applies chemical programs and modeling to boiler performance issues.
Updates also describe progress in the DGI® Dissolved Gas Infusion division, customer demonstrations, backlog and contract activity, conference presentations, and the balance-sheet context included with quarterly reporting. The recurring themes center on project timing, segment revenue mix, utility and industrial customer demand, and commercialization of Fuel Tech’s engineering-based environmental technologies.
Fuel Tech (NASDAQ: FTEK) reported improved Q2 2024 financial results, with consolidated revenues rising 29% year-over-year to $7.0 million. This growth was driven by a 52% increase in FUEL CHEM® revenues and a 15% rise in APC revenues. The company's gross margin improved to 41.9% from 36.6% in Q2 2023. Despite higher SG&A expenses, the net loss narrowed to $(0.4) million, or $(0.01) per share, compared to $(1.0) million, or $(0.03) per share, in Q2 2023.
Fuel Tech maintains a strong financial position with $30.1 million in cash and investments and no long-term debt. The company is pursuing new customer demonstrations for its Dissolved Gas Infusion (DGI™) technology and expects to commence a demonstration at a U.S. fish hatchery in Q3 2024. Additionally, Fuel Tech reported $5.0 million in new APC contract bookings and anticipates closing several new APC orders during the remainder of the year.
Fuel Tech (NASDAQ: FTEK) has secured air pollution control (APC) orders worth approximately $5.0 million from customers in Europe and the US. The orders include:
1. The company's first APC award for a renewable energy project in Europe, involving multiple ammonia delivery and injection systems for green hydrogen production.
2. An SCR technology contract for a natural gas fired heater at a chemical processing plant in Europe.
3. An ULTRA® system for a natural gas turbine at a US university.
These orders significantly improve Fuel Tech's APC backlog and showcase its diverse emissions control technologies across industries and regions.
Fuel Tech (NASDAQ: FTEK) has announced it will release its Q2 2024 financial results on August 6, 2024, after market close. The company will host a conference call on August 7, 2024, at 10:00 am ET to discuss the results and business activities. Investors can participate by dialing (877) 423-9820 (Domestic) or (201) 493-6749 (International).
Fuel Tech specializes in air pollution control, process optimization, and water treatment technologies. Their solutions have been installed on over 1,300 units worldwide, focusing on nitrogen oxide reduction and particulate control. The company's FUEL CHEM® technology improves combustion unit efficiency and environmental status, while their DGI® Dissolved Gas Infusion Systems target water and wastewater applications.
Fuel Tech, Inc. (NASDAQ: FTEK) reported Q1 2024 financial results, highlighting revenue declines, expected revenue growth, and positive prospects. Consolidated revenues decreased to $5.0 million, with a rise in gross margin to 40.9%. SG&A expenses increased slightly, while net income improved to $281,000. APC segment backlog was $6.2 million, and FUEL CHEM segment revenue declined. Adjusted EBITDA loss was $(1.5) million. Cash and investments stood at $32.1 million. Stockholders' equity was $44.0 million with no debt.
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