Fuel Tech, Inc. (NASDAQ: FTEK) announced that it has secured approximately $10 million in new air‑pollution control contracts, including a flagship project for a publicly‑owned Midwest municipal utility that will install the company’s Selective Catalytic Reduction (SCR) system on two new natural‑gas turbines. The project will add roughly 100 MW of output to the plant and is slated to become operational in 2029.
In addition to the utility contract, Fuel Tech received two upgrades from its historical industrial customer base. A South‑regional customer will upgrade its NOxOUT® Selective Non‑Catalytic Reduction (SNCR) system, while a Midwest customer will enhance its existing SCR system. Both upgrades are expected to be completed in the third quarter of 2026, with engineering work on the utility project beginning immediately and equipment deliveries scheduled for late 2027.
The new contracts come amid growing regulatory pressure on emissions and a surge in data‑center construction, which fuels demand for clean power solutions. Fuel Tech’s pipeline for SCR opportunities in data‑center power generation is estimated at $75–$100 million, and the company’s cash reserves of nearly $32 million and absence of long‑term debt position it well to execute these projects and pursue further growth.
Vincent J. Arnone, President and CEO, said, "We are proud to support this municipal utility plant expansion and to play a role in meeting this area's growing demand for energy. This project is designed to enhance the reliability of the grid to enable a more resilient grid system in support of commercial activities and data center construction." He added, "Investments in power infrastructure are increasing across the country, and Fuel Tech's suite of emissions control solutions are designed to deliver clean, reliable power to communities. Securing this contract is a testament to our continual focus on business development and a reflection of our reputation in the emissions control industry. Additionally, we continue to support our historical industrial customer base as they look to expand their operations on a global basis."
The contracts strengthen Fuel Tech’s position in the utility and industrial emissions‑control market. In the fourth quarter of 2025, the company reported revenue of $7.25 million, missing estimates, and a net loss of $1.2 million. In the third quarter of 2025, revenue was $7.5 million, with a net income of $303,000. The FUEL CHEM segment, which addresses slagging and corrosion in boilers, saw revenue rise 92 % year‑over‑year in Q1 2025 and 37.4 % in Q4 2025, underscoring the company’s strong performance in its core segments.
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