Fuel Tech Awarded Air Pollution Control Orders Totaling $4.3 Million

WARRENVILLE, Ill.–(BUSINESS WIRE)–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 the
receipt of multiple air pollution control (APC) contracts from customers
in the US and Europe. These awards have an aggregate value of
approximately $4.3 million.

An order was received for two industrial units in the US which will
utilize Fuel Tech’s Selective Catalytic Reduction (SCR) technology and
aqueous ammonia feed systems. These units will be installed at a site
that is currently operating Fuel Tech SCR systems. Equipment deliveries
are scheduled for the third quarter of 2018.

A second contract was received for two coal-fired boilers in Europe
where new aqueous ammonia feed systems will replace existing equipment
for units equipped with SCR technology. This project is an add-on to a
project from 2017. The Fuel Tech scope includes engineering, equipment
supply and installation. The units are scheduled for completion in the
third and fourth quarters of 2018.

Vincent J. Arnone, Chairman, President and Chief Executive Officer,
commented, “We are pleased to announce these orders for customer
locations with previous Fuel Tech installations. These contracts
demonstrate our ability to meet the on-going needs of our customer base
and are a testament to our ability to deliver quality and performance.
Our SCR technology and reagent feed systems continue to gain prominence
in our product portfolio. Our goal is to provide reagent flexibility by
customizing the best solution for SCR applications using aqueous ammonia
feed systems, urea-based ULTRA® technology to generate
ammonia on-site, or UDI™ Urea Direct Injection systems. We continue to
provide a wide range of environmental and emission control solutions for
our diverse global customer base utilizing a variety of fuel sources.”

About Fuel Tech

Fuel Tech 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, and advanced engineering services. These technologies
enable customers to produce both energy and processed materials in a
cost-effective and environmentally sustainable manner.

The Company’s nitrogen oxide (NOx) reduction technologies
include advanced combustion modification techniques and post-combustion
NOx control approaches, including NOxOUT®,
HERT™, and Advanced SNCR systems, ASCR™ Advanced Selective Catalytic
Reduction systems, and I-NOx® Integrated NOx
Reduction Systems, which utilize various combinations of these systems,
along UDI™ Urea Direct Injection system for SCR reagent supply, and the
ULTRA® process for safe ammonia generation. These
technologies have established Fuel Tech as a leader in NOx
reduction, with installations on over 900 units worldwide.

Fuel Tech’s technologies for particulate control include Electrostatic
Precipitator (ESP) products and services including complete turnkey
capability for ESP retrofits, with experience on units up to 700 MW.
Flue gas conditioning (FGC) systems include treatment using sulfur
trioxide (SO3) and ammonia (NH3) based
conditioning to improve the performance of ESPs by modifying the
properties of fly ash particles. Fuel Tech’s particulate control
technologies have been installed on more than 125 units worldwide.

The Company’s FUEL CHEM® technology revolves around the
unique application of chemicals to improve the efficiency, reliability,
fuel flexibility, boiler heat rate, and environmental status of
combustion units by controlling slagging, fouling, corrosion, opacity
and improving boiler operations. The Company has experience with this
technology, in the form of a customizable FUEL CHEM program, on over 110
units.

Fuel Tech also provides a range of services, including boiler tuning and
selective catalytic reduction (SCR) optimization services. In addition,
flow corrective devices and physical and computational modeling services
are available to optimize flue gas distribution and mixing in both power
plant and industrial applications.

Many of Fuel Tech’s products and services rely heavily on the Company’s
exceptional Computational Fluid Dynamics modeling capabilities, which
are enhanced by internally developed, high-end visualization software.
These capabilities, coupled with the Company’s innovative technologies
and multi-disciplined team approach, enable Fuel Tech to provide
practical solutions to some of our customers’ most challenging problems.
For more information, visit Fuel Tech’s web site at www.ftek.com.

NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release contains “forward-looking statements” as defined in
Section 21E of the Securities Exchange Act of 1934, as amended, which
are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995 and reflect Fuel Tech’s current
expectations regarding future growth, results of operations, cash flows,
performance and business prospects, and opportunities, as well as
assumptions made by, and information currently available to, our
management. Fuel Tech has tried to identify forward-looking statements
by using words such as “anticipate,” “believe,” “plan,” “expect,”
“estimate,” “intend,” “will,” and similar expressions, but these words
are not the exclusive means of identifying forward-looking statements.
These statements are based on information currently available to Fuel
Tech and are subject to various risks, uncertainties, and other factors,
including, but not limited to, those discussed in Fuel Tech’s Annual
Report on Form 10-K in Item 1A under the caption “Risk Factors,” and
subsequent filings under the Securities Exchange Act of 1934, as
amended, which could cause Fuel Tech’s actual growth, results of
operations, financial condition, cash flows, performance and business
prospects and opportunities to differ materially from those expressed
in, or implied by, these statements. Fuel Tech undertakes no obligation
to update such factors or to publicly announce the results of any of the
forward-looking statements contained herein to reflect future events,
developments, or changed circumstances or for any other reason.
Investors are cautioned that all forward-looking statements involve
risks and uncertainties, including those detailed in Fuel Tech’s filings
with the Securities and Exchange Commission.

Contacts

Fuel Tech, Inc.
Jim Pach, 630-845-4500
Acting Principal
Financial Officer
and Controller
or
The Equity Group Inc.
Devin
Sullivan, 212-836-9608
Senior Vice President