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Fuel Tech Awarded Air Pollution Control Orders Totaling $7.8 Million

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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 China and the U.S., including its first Electrostatic Precipitator (ESP) orders following the acquisition of PECO-FGC. These awards have an aggregate value of approximately $7.8 million.

The first U.S. ESP order is for a large coal-fired utility boiler in the Southeast. The project includes the supply and installation of internal components, along with electrical power supplies and integrated plant controls for the ESP. Installation and startup are scheduled for completion in the third quarter of 2015. The second order is for an ESP retrofit on a coal-fired unit in the Midwest where the scope includes ESP modeling, along with engineering and equipment to improve the safety and reliability of the unit. Delivery of the equipment is scheduled for the fourth quarter of 2014. Both projects are designed to improve the performance of the plants to meet the Environmental Protection Agency’s upcoming Mercury and Air Toxics Standards (MATS) for particulate emissions.

The contracts in China are for ULTRATM systems at several sites with coal-fired units that are being retrofitted with nitrogen oxide (NOx) reduction technology. Fuel Tech’s ULTRA process provides for the safe and cost-effective on-site conversion of urea to ammonia for use as a reagent in the selective catalytic reduction of NOx, eliminating the hazards associated with the transport, storage and handling of anhydrous or aqueous ammonia. Equipment deliveries for these orders are expected to occur in the fourth quarter of this year.

Douglas G. Bailey, Chairman, President and Chief Executive Officer, commented, “The acquisition of PECO-FGC broadened Fuel Tech’s APC product portfolio and has granted us access into the fast-growing particulate control market. Coal and biomass fired plant operators throughout the U.S. are creating strategies to meet upcoming particulate regulations under the MATS Rule for utility boilers or under the Boiler Maximum Achievable Control Technology (MACT) Rule for industrial boilers. We also see growing particulate control activity in our international markets and are excited about the range of future opportunities. The number of our ULTRA systems installed in China for NOx control continues to grow as sources move to comply with the requirements of the 12th Five-Year Plan.”

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 – such as Low NOx Burners and Over-Fire Air systems – and post-combustion NOx control approaches, including NOxOUT(R) and HERTTM SNCR systems, ASCRTM Advanced Selective Catalytic Reduction systems, NOxOUT-SCR(R), NOxOUT CASCADE(R), and I-NOxTM Integrated NOx Reduction Systems, which utilize various combinations of these systems, along with the ULTRATM process for safe ammonia generation. These technologies have established Fuel Tech as a leader in NOx reduction, with installations on over 800 units worldwide, where coal, fuel oil, natural gas, municipal waste, biomass and other fuels are utilized.

Fuel Tech’s technologies for particulate control include Electrostatic Precipitator (ESP) products and services include ESP Inspection Services, Performance Modeling, Performance and Efficiency Upgrades, along with complete turnkey capability for ESP retrofits, with more than 60 major rebuilds 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 the fly ash particle. FGC systems offer a lower capital cost approach to improving ash particulate capture versus the alternative of installing larger ESPs or utilizing fabric filter technology to meet targeted emissions and opacity limits. Fuel Tech’s particulate control technologies have been installed on more than 125 units worldwide.

The Company’s FUEL CHEM(R) technology revolves around the unique application of chemicals to improve the efficiency, reliability, fuel flexibility and environmental status of combustion units by controlling slagging, fouling, corrosion, opacity and operational issues associated with sulfur trioxide, ammonium bisulfate, particulate matter (PM2.5), carbon dioxide and NOx. The Company has experience with this technology, in the form of a customizable FUEL CHEM program, on over 110 combustion units burning a wide variety of fuels including coal, heavy oil, biomass, and municipal waste.

Fuel Tech also provides a range of combustion optimization services, including airflow testing, coal flow testing and boiler tuning, as well as services to help optimize selective catalytic reduction system performance, including catalyst management services and ammonia injection grid tuning. 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.

This press release may contain statements of a forward-looking nature regarding future events. These statements are only predictions and actual events may differ materially. Please refer to documents that Fuel Tech files from time to time with the Securities and Exchange Commission for a discussion of certain factors that could cause actual results to differ materially from those contained in the forward-looking statements.

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