Fuel Tech Secures $10M in Air Pollution Control Contracts, Bolstering Order Book
FTEK sits 55% above its 52-week low of $0.93.
Summary
Fuel Tech, Inc. announced new air pollution control (APC) contracts valued at approximately $10 million from domestic utility and industrial customers. This includes a significant contract to integrate Selective Catalytic Reduction (SCR) technology for a large Midwest municipal utility's new natural gas-fired turbines, with engineering commencing immediately. Additional awards involve upgrades to existing NOxOUT® SNCR and SCR systems for industrial clients, with deliveries expected in Q3 2026. These contract wins are highly material for Fuel Tech, representing a substantial portion of its current market capitalization and indicating robust demand for its emissions control technologies. This development significantly enhances the company's revenue visibility and order book, providing a strong positive catalyst for the stock. Traders will be watching for further updates on project execution and future contract announcements.
At the time of this announcement, FTEK was trading at $1.44 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $42.7M. The 52-week trading range was $0.93 to $3.65. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.