Fuel Tech Inc (NASDAQ:FTEK) receives multiple contracts totaling $3.6 million from customers in China, Europe and the US. The deals are for the company’s air pollution control systems. The first order is for the company’s Electrostatic Precipitator for a coal fired system in the Midwest. The unit is expected to be delivered in the first quarter of 2015. The second contract involves the company’s NOxOUT reduction system. It is also for a coal fired unit that is operating under an EPA consent decree. This facility has ordered units from Fuel Tech before, purchasing a ULTRA system in 2014. The last is aSNCR system that transports, stores and handles dangerous aqueous ammonia. That system is expected to be delivered in the second quarter of this year.
Two orders were received from China for Fuel Tech Inc (NASDAQ:FTEK)’s ULTRA system. They will be fitted onto a coal-fired and a gas-fired plant. There were additional orders from China that involve the NOxOUT systems and other smaller units. France ordered a SNCR unit for an industrial facility that is also scheduled for delivery in the first quarter of 2015. The company is starting of 2015 strong and the global acceptance of its products is encouraging. The revenue from these deals will be reflected on the first quarter balance sheet giving Fuel Tech Inc (NASDAQ:FTEK) some revenue momentum to start the year off.
Fuel Tech utilizes state-of-the-art proprietary technology in the control of sir pollution and other contaminants. Many countries need their technology to meet strict regulatory and environmental rules.
Fuel Tech Inc (NASDAQ:FTEK)’s products utilize a Computational Fluid Dynamics model that is enhanced through high-end visualization software. Along with the company’s proprietary systems this makes their products the leaders in the industry and is proven effective.
The stock is building a base at this level and developing a solid channel. The next big resistance is at $4.07 and once the base is complete is should challenge the top. Support is strong at this level also.