Fuel Tech Receives Two Orders, Letter of Intent From Utilities With Total Value of $3.2 Million.STAMFORD, Conn.--(BUSINESS WIRE)--June 9, 1999--
Fuel-Tech N.V. (NASDAQ NASDAQ
in full National Association of Securities Dealers Automated Quotations
U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : FTEK), a world leader in air pollution control technology, announced today that Fuel Tech, Inc., its wholly-owned subsidiary, has received two orders and a letter of intent, with a total value of $3.2 million, from U. S. electric utilities.
The two purchase orders, valued at a total of $1.6 million, are for installation of NOxOUT(R) equipment at an electric generating station in the Northeast Ozone Transport Region by Fuel Tech's implementor RJM RJM Resistojet Module
RJM Religious of Jesus and Mary (France) (religious order) Corporation, and for engineering work to determine the cost of equipping e·quip
tr.v. e·quipped, e·quip·ping, e·quips
a. To supply with necessities such as tools or provisions.
b. a Southeastern utility with Fuel Tech's NOxOUT CASCADE(R) process. The letter of intent, also for $1.6 million, is for a Fall 1999 installation of a NOxOUT(R) system that will enable a utility to meet requirements of the EPA's Ozone Transport State Implementation Plan A State Implementation Plan (SIP) is a United States state plan for complying with the federal Clean Air Act, administered by the Environmental Protection Agency. The SIP consists of narrative, rules, technical documentation, and agreements that an individual state will use to Call.
Steven C. Argabright, president and COO (Cell Of Origin) See mobile positioning. of Fuel Tech, said, "Orders from the utility industry have become an increasingly important contributor to our business in 1999, driven by more than one of the EPA's pollution control regulations. Our proprietary, cost-effective technologies are helping utilities comply with the regulations, and providing Fuel Tech with a stable base of business that fuels our optimism for the future." Earlier in 1999, Fuel Tech announced more than $5.7 million of orders from utilities, Argabright noted.
Fuel-Tech N.V. is engaged in the development and commercialization of proprietary air pollution control technologies. Its NOxOUT(R) Process is a proven technology that has established Fuel Tech as the leader in post-combustion nitrogen oxide Noun 1. nitrogen oxide - any of several oxides of nitrogen formed by the action of nitric acid on oxidizable materials; present in car exhausts
pollutant - waste matter that contaminates the water or air or soil (NOx) control systems. New technologies based on the NOxOUT(R) Process have also been developed to improve boiler efficiency. The company's technologies are currently installed at more than 250 combustion units worldwide.
This press release contains 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 forward-looking statement
A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. .