Fuel-Tech N.V. Announces Four FUEL CHEM(R) Orders, Including Two Demonstrations.STAMFORD, Conn. -- Fuel-Tech N.V. (Nasdaq: FTEK), a world leader in advanced engineering solutions for the optimization of combustion systems in utility and industrial applications, today announced four FUEL CHEM CHEM Chemistry CHEM Chemical CHEM Chemist CHEM Chemistry Mission CHEM Centre des Hautes Études Militaires (French) CHEM Center for Healthcare Environmental Management CHEM Charge-Energy-Mass (spectrometer) (R) orders for the Company's proprietary Targeted In-Furnace Injection (TIFI TIFI The Integrated Facilities Institute ) technology. Two of the orders, placed by a major, targeted utility, represent demonstrations on Powder River Basin The Powder River Basin is a region in southeast Montana and northeast Wyoming about 120 miles east to west and 200 miles north to south known for its coal deposits. It is both a topographic drainage and geologic structural basin. (PRB PRB Pharmaceutical Resources Branch ) coal-fired units of approximately 600 and 350 megawatts (MW(e)) at two Midwestern plants. A third order was secured on a very large PRB coal-fired unit from an existing customer in the Southeastern U.S. Overseas, an order was received from an Italian utility on a 320MW(e) coal-fired unit, representing the second such installation for this customer. The Company also reported that one TIFI installation has been temporarily decommissioned on a coal-fired unit that had previously used the technology on an intermittent basis. Steven C. Argabright, President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , commented, "As evidenced by this announcement, Fuel Tech continues to make major strides in penetrating the utility market with its unique slag inhibiting technology. Of particular note are the Midwestern demonstrations, which represent the first instance in which a prospective customer has decided to test our technology simultaneously at two separate locations." Mr. Argabright continued, "We are also gratified grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. with the repeat business from highly satisfied customers, both in the U.S. and abroad. In Italy, our FUEL CHEM product is enabling our customer to broaden its search for lower quality and, therefore, lower cost coals for its combustion units, generating compelling economic benefits. To prepare ourselves for potential growth in the European market, we recently added an experienced sales professional in Italy. In a related matter, we are pleased to announce that, as part of an ongoing program by the Italian government to promote advanced technology development, Fuel Tech has been awarded a grant of up to $80,000 to help fund development of advanced interactive controls for optimal chemical injection, designed to maximize both economic and thermal performance benefits for FUEL CHEM installations." Mr. Argabright concluded, "As to the intermittent-feed TIFI installation that has been temporarily decommissioned, the unit did not require continued use of the process at this time due to reduced capacity requirements, which inherently reduce slag formation. Should the need arise, the system could be reactivated on short notice. Revenue from this unit has not been material in 2005." About Fuel-Tech N.V. Fuel-Tech N.V. is a leading technology company engaged in the worldwide development, commercialization and application of state-of-the-art proprietary technologies for air pollution control, process optimization Process optimization is the practice of making changes or adjustments to a process, to get results. Optimization is the use of specific techniques to determine the most cost effective and efficient solution to a problem or design for a process. , and advanced engineering services. The Company's nitrogen oxide (NOx) reduction processes, which include the NOxOUT(R), NOxOUT CASCADE(R), NOxOUT ULTRA(R), Rich Reagent Injection (RRI RRI Radio Romania International RRI Raman Research Institute RRI Resource Renewal Institute RRI Robarts Research Institute RRI Research Reactor Institute RRI Renal Research Institute (USA) RRI Rights and Resources Initiative ) and NOxOUT SCR (Sequence Control Register) See program counter. (R) technologies, have established Fuel-Tech N.V. as a leader in post-combustion NOx control systems, which are installed on over 340 units worldwide. New technologies that have grown out of the core NOx reduction business form the basis of the FUEL CHEM(R) business. FUEL CHEM technology revolves around the unique application of chemicals to improve the performance of combustion units by controlling slagging, fouling, corrosion and opacity Refers to being "opaque," which means to prevent light from shining through. For example, in an image editing program, the opacity level for some function might range from completely transparent (0) to completely opaque (100). . The Company's FUEL CHEM products are being applied to over 80 combustion units burning a wide variety of fuels including coal, heavy oil, biomass, Both the NOx reduction and FUEL CHEM businesses rely heavily on the Company's exceptional Computational Fluid Dynamics Computational fluid dynamics The numerical approximation to the solution of mathematical models of fluid flow and heat transfer. Computational fluid dynamics is one of the tools (in addition to experimental and theoretical methods) available to solve modeling skills, which are enhanced by internally developed, high-end visualization software. For more information, visit Fuel-Tech N.V.'s web site at www.fueltechnv.com. 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 |
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