Fuel Tech (FTEK) Inks Two New Marketing, Supply Agreements
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Fuel Tech, Inc. (Nasdaq: FTEK) announced it has entered into separate marketing and supply agreements with Redox Solutions and PowerPlus Cleaning Systems. These agreements allow the Company to serve as an exclusive reseller of emissions control solutions that address high-demand areas of mercury control along with boiler cleaning and efficiency.
Vincent J. Arnone, President and Chief Executive Officer, commented, “These agreements are consistent with our New Product Development initiatives, part of our overall strategy to evolve Fuel Tech’s business model and operating strategy. These external teaming arrangements expand our portfolio of emissions control solutions, thus allowing us to bring impactful technologies to market while we continue to internally develop new solutions that meet the changing needs of our customers.”
Fuel Tech signed a five-year license agreement with Redox Technology Group, LLC (d/b/a Redox Solutions), an Indiana-based specialty chemical manufacturer that produces chemicals used for mercury remediation in a variety of end markets. Redox Solutions has developed a patented approach for the production and use of a highly amorphous iron sulfide based product to enhance the total mercury removal capabilities of wet flue gas de-sulfurization (FGD) scrubber systems installed on utility and industrial coal fired units. Wet FGD systems can capture mercury emissions once the mercury has been oxidized by the upstream Selective Catalytic Reduction (SCR) catalyst, which is installed primarily to control nitrogen oxide emissions. The SCR catalyst also provides a benefit by oxidizing the mercury which may then be captured in the wet FGD system. However, there have been a number of customers who have experienced mercury re-emission, where the mercury does not stay contained in the wet FGD waste water or solids, but is re-emitted with the flue gas leaving the stack. Redox Solutions has proven experience in reducing mercury emissions with its Redox-Hg product on utility boilers equipped with wet FGD systems and will be presenting the results of its work with American Electric Power Company, Inc. during the Megasymposium conference on August 16, 2016. The conference in Baltimore, Maryland is sponsored by the United States EPA and other key industry organizations, and Fuel Tech will also be attending and exhibiting.
Redox-Hg is currently being evaluated in a utility industry research study as a technique for removing liquor-phase selenium, as selenite, from wet FGD scrubber slurries before it is oxidized to selenate. Redox-Hg and other advanced, downstream selenium removal technologies are being evaluated on cost and performance since customers will be required to meet the upcoming Effluent Limitation Guidelines (ELG) Rule that EPA has issued for the utility industry. Fuel Tech will use its sales channels, business relationships, and knowledge of chemical delivery and distribution to exclusively market the Redox Solutions product to a specified customer base. The market drivers for mercury control are the Mercury and Air Toxic Standards (MATS) Rule for utility units and the Boiler Maximum Achievable Control Technology (MACT) Rule, both of which have specific requirements for mercury emissions.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Shenandoah Telecom Co (SHEN) Elects Kenneth Quaglio to Board of Directors
- Microsoft (MSFT) Names Kevin Scott as CTO
- Canadian Solar (CSIQ) Subsidiary Enters 60 MW Solar Power Purchase Agreement with SMUD
Create E-mail Alert Related CategoriesCorporate News, Management Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!