Fuel Tech, Inc. filings document financial results, governance matters and compensation arrangements for a technology company serving utility and industrial customers. Form 8-K reports furnish quarterly and annual earnings releases, including disclosures on the Air Pollution Control, FUEL CHEM® and DGI® Dissolved Gas Infusion businesses, contract activity, backlog commentary and balance-sheet items.
The company’s proxy and other current reports cover board and shareholder voting matters, executive compensation, restricted stock unit awards, corporate incentive plans, and sales commission plans tied to the APC and FUEL CHEM product lines. These filings also identify Fuel Tech as a Delaware registrant with Nasdaq-listed common stock under FTEK.
Fuel Tech, Inc. reported first-quarter 2026 revenue of $6.08M, down modestly from $6.38M a year earlier, as softer FUEL CHEM demand offset growth in air pollution control projects. APC segment revenue rose to $1.60M, while FUEL CHEM declined to $4.48M due to seasonal maintenance outages and lower dispatch at customer plants.
Consolidated gross margin slipped to 43% from 46%, and higher selling, general and administrative expenses of $3.72M led to a wider operating loss of $1.60M. Net loss increased to $1.36M, or $(0.04) per share, compared with a loss of $0.74M, or $(0.02) per share, in 2025.
Liquidity remains solid, with $9.11M in cash and cash equivalents, $21.47M in held-to-maturity investments at fair value, no financial debt and working capital of $22.17M. APC backlog was $6.92M, and management believes existing cash and expected operating cash flows are sufficient to fund operations for the next 12 months while it continues investing in DGI® water treatment technology.
Fuel Tech, Inc. reported a wider net loss for Q1 2026 as modestly lower revenue and higher expenses weighed on results, while its air pollution control business and project pipeline strengthened. Consolidated revenue was $6.1 million, down 5% from $6.4 million a year earlier, with gross margin slipping to 43.5% from 46.4%.
The Air Pollution Control segment grew revenue 23% to $1.6 million and expanded gross margin to 38.3% from 32.6%, and management highlighted recent APC awards totaling about $10 million that will bolster future activity. FUEL CHEM revenue declined to $4.5 million from $5.1 million, with gross margin narrowing to 45.3% from 49.9%.
SG&A rose to $3.7 million from $3.3 million, contributing to a net loss of $1.4 million, or $0.04 per share, versus a $0.7 million loss, or $0.02 per share, in Q1 2025. Adjusted EBITDA loss was $1.3 million compared to a $0.7 million loss. The company ended March 31, 2026 with $9.1 million in cash and cash equivalents, $21.5 million in short- and long-term investments, stockholders’ equity of $38.6 million, and no debt.
Fuel Tech, Inc. is asking stockholders to elect four directors, ratify RSM US LLP as independent auditor for 2026, and approve an advisory vote on executive pay at its June 4, 2026 annual meeting. The board remains small, with CEO Vincent J. Arnone also serving as chairman and three fully independent directors chairing all key committees.
Executive pay is structured around base salary, annual incentives and performance-based RSUs. A 2025 company-wide incentive plan paid no bonuses because operating income targets were not met, while a separate objectives plan funded a $487,500 pool after three of four goals were achieved. In 2025 total compensation was $788,338 for the CEO, $484,864 for the CFO and $447,494 for the SVP of Sales. A 2025 say-on-pay vote received over 94% support, and the company highlights claw back, anti-hedging and stock ownership guidelines as governance features.
Fuel Tech, Inc. amendment to a Schedule 13G/A reports that Grace & White, Inc. beneficially owns 1,541,307 shares of common stock, representing 5.02% of the class. The filing shows 447,860 shares with sole voting power and 1,541,307 with sole dispositive power. The signatory certifies the holdings were not acquired to change control and references nomination activity under Rule 240.14a-11.
Fuel Tech, Inc. adopted its 2026 Corporate Incentive Plan and 2026 Current Objectives Plan, tying employee cash bonuses and executive equity awards to financial and strategic performance. The company granted 20,850 RSUs to CEO Vincent Arnone, 8,350 to CFO Ellen Albrecht, and 6,250 to SVP William Cummings.
Under the 2026 Corporate Incentive Plan, no bonus is paid unless Operating Income reaches $250,000, after which 25% of Operating Income funds an incentive pool capped at $3 million. The 2026 Current Objectives Plan funds a separate bonus pool of up to $650,000 only if all four corporate objectives are fully achieved, including revenue targets from new technologies, data center projects, AI-driven business development, and company-wide adoption of AI tools.
Albrecht Ellen T reported acquisition or exercise transactions in this Form 4 filing.
Fuel Tech, Inc. reported that Chief Financial Officer Ellen T. Albrecht received a grant of 8,350 Restricted Stock Units on March 24, 2026 as equity compensation. Each RSU represents one share of common stock. The RSUs vest in three equal annual installments on the first, second, and third anniversaries of the grant date, with shares delivered after each vesting date subject to any deferral elections.
FUEL TECH, INC. President and CEO Vincent J. Arnone received a grant of 20,850 Restricted Stock Units on March 24, 2026. Each unit represents a contingent right to receive one share of FTEK common stock.
The RSUs vest in three equal installments: one-third on each of the first, second, and third anniversaries of the grant date. Following this award, Arnone holds 20,850 RSUs directly, which will convert into common shares as they vest and are delivered under the company’s RSU Award Agreement.
Cummings William E JR reported acquisition or exercise transactions in this Form 4 filing.
FUEL TECH, INC. reported that Senior Vice President of Sales William E. Cummings Jr. received a grant of 6,250 Restricted Stock Units as equity compensation. Each unit represents a contingent right to receive one share of FTEK common stock.
The 6,250 RSUs vest in three equal installments on the first, second, and third anniversaries of the grant date, subject to the company’s RSU award agreement. Following this grant, Cummings holds 6,250 RSUs directly, with shares to be delivered after each vesting date.
FUEL TECH, INC. President and CEO Vincent J. Arnone reported an open-market purchase of 10,000 shares of common stock at a price of $1.24 per share. After this transaction, he directly owns 549,513 shares of Fuel Tech common stock.
Fuel Tech, Inc. reports full-year 2025 results with revenue of $26.7 million and a net loss of $2.3 million, or $0.08 per share. Revenue rose about 6% from 2024 as gross margin improved to 46% from 42%.
FUEL CHEM segment sales grew 28% to $17.8 million on renewed orders and new programs, while Air Pollution Control revenue fell 21% to $8.9 million due to project timing and customer delays, though APC backlog increased to $7.0 million.
The company ended 2025 with $11.9 million in cash, $19.9 million in investments, working capital of $25.7 million, no debt aside from letters of credit, and 30.9 million basic shares outstanding.