Feb 4 2011
Fuel Tech, Inc. (NASDAQ: FTEK), a world leader in advanced engineering solutions for the optimization of combustion systems and emissions control in utility and industrial applications, today announced receipt of a commercial FUEL CHEM® order from a domestic electric utility.
Fuel Tech's proprietary TIFI® Targeted In-Furnace Injection™ technology will be installed on a large coal-fired boiler with chemical injection scheduled to commence this month.
Douglas G. Bailey, Chairman, President and Chief Executive Officer, commented, “The growing divergence in pricing between major U.S. coal fields continues to be a powerful driver for our business, as utilities are increasingly attracted to the compelling economic benefits of shifting to coals of lower price and quality from the Illinois and Powder River Basins. In this case, our client was switching from burning Central Appalachian to Illinois Basin coal, as current market prices indicate about a one-third savings in fuel costs on a comparative dollars per MM BTU basis. We are confident that our TIFI approach will enable this customer to realize a very significant cost savings by enabling this fuel flexibility, while realizing operating performance improvements and additional megawatt generation.”