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, Inc. (NASDAQ: FTEK) reported its Q4 and full-year 2021 financial results, highlighting a net income of $0.1 million, the first annual profit since 2013. Consolidated revenues for 2021 increased to $24.3 million from $22.6 million, driven by a 24.1% rise in FUEL CHEM revenues, despite a 19.4% drop in Air Pollution Control revenues. The company ended 2021 with $37.1 million in cash and no debt. Notably, gross margins improved, showing a better product mix. The firm also secured $5.3 million in new APC orders, signaling an uptick in business development.
Fuel Tech, Inc. (NASDAQ: FTEK) will release its fourth quarter and full year financial results for the period ending December 31, 2021 on March 8, 2022, post-market close. A conference call to discuss these results will take place on March 9, 2022 at 10:00 AM ET. Fuel Tech specializes in advanced engineering solutions for combustion systems, emissions control, and water treatment, with notable technologies like FUEL CHEM® for NOx reduction. For more details, visit www.ftek.com.
Fuel Tech, Inc. (NASDAQ: FTEK) announced the receipt of multiple air pollution control contracts valued at approximately $5.3 million. The contracts, awarded in India, South Africa, the US, and China, include advanced technologies such as Flue Gas Conditioning systems and Selective Catalytic Reduction systems. These projects aim to enhance efficiency and reduce emissions in various industrial applications. Deliveries are set for completion between the second and third quarters of 2022.
Fuel Tech, Inc. (NASDAQ: FTEK) reported mixed financial results for Q3 2021, with total revenues declining to $7.6 million from $8.2 million in Q3 2020. The FUEL CHEM segment saw revenue growth, reaching $5.6 million, while the APC segment revenues fell to $1.9 million. Net income decreased to $0.7 million ($0.02 per share) compared to $2.4 million ($0.10 per share) in Q3 2020. Despite facing challenges, the company secured $4.5 million in new contracts and has a promising sales pipeline of $50-75 million. Cash reserves stood at $36.3 million with no debt.
Fuel Tech, Inc. (NASDAQ: FTEK) will release its financial results for the third quarter ending September 30, 2021 on November 9, 2021. The announcement will take place after the market closes. Management will discuss the results during a conference call on November 10, 2021, at 10:00 am ET. Interested parties can join by phone or access the call online. Fuel Tech specializes in advanced technologies for emissions control and water treatment, serving utility and industrial applications globally.
Fuel Tech, Inc. (NASDAQ: FTEK) announced that President & CEO Vince Arnone will present at the 23rd Annual H.C. Wainwright Global Investment Conference, scheduled virtually from September 13-15, 2021. The presentation will begin at 7:00 a.m. Eastern Time on September 13, with materials available at www.ftek.com. Investors can register for the event through www.hcwevents.com/annualconference. Fuel Tech provides advanced technologies for emissions control, water treatment, and process optimization, boasting over 1,200 installed units worldwide.
Fuel Tech, Inc. (FTEK) reported Q2 2021 revenues of $5.2 million, up 18.6% from Q2 2020, driven by a 72% increase in its FUEL CHEM® segment. The APC segment faced challenges due to COVID-19-related delays. Gross margin improved to 49.5% from 13.7%, excluding a warranty charge. Net loss narrowed to $(0.8) million or $(0.03) per share. The company ended the quarter with $36.6 million in cash, no debt, and a backlog of $4.9 million in the APC segment. A conference call is scheduled for August 11, 2021, to discuss results.
Fuel Tech, Inc. (NASDAQ: FTEK) plans to release its financial results for Q2 2021 on August 10, 2021, after market close. A conference call will be held on August 11 at 10:00 am ET to discuss the outcomes and ongoing business activities. Participants can join via phone or through the company's website. Fuel Tech specializes in advanced technologies for emissions control and water treatment, recognized for its FUEL CHEM® technology that enhances combustion efficiency and environmental performance in numerous units globally.
Fuel Tech, Inc. (NASDAQ: FTEK) has secured multiple contracts for air pollution control (APC) totaling approximately $4.5 million from clients in Korea, North America, and Europe. These include orders for Selective Catalytic Reduction (SCR) technology and catalyst replacements. The company also completed two US demonstrations of its DGI™ wastewater treatment technology. CEO Vincent J. Arnone expressed optimism about increasing market activity due to improved economic conditions post-COVID-19.
Fuel Tech, Inc. (NASDAQ: FTEK) announced its inclusion in the Russell Microcap® Index, effective June 25, 2021. This milestone is perceived as a recognition of the company's progress and the opportunities it seeks. Vincent J. Arnone, President and CEO, highlighted the positive implications of increased visibility among institutional investors, crediting the company's debt-free balance sheet. Fuel Tech specializes in advanced engineering solutions, focusing on air pollution control and water treatment technologies, which have been deployed globally across over 1,200 utility and industrial units.