Fuel Tech Licenses Recovery Chem® Technology to Hong Kong’s Amazon Papyrus Chemicals Limited
09 November 2016 - 8:35AM
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 signing of an exclusive agreement with Amazon
Papyrus Chemicals Limited (Amazon Papyrus). Under the
agreement, Fuel Tech has licensed its proprietary RECOVERY CHEM®
technology to Amazon Papyrus, a leading supplier of specialty
chemicals to the pulp and paper industry in Asia. Fuel Tech will
receive engineering fees and royalty payments from Amazon Papyrus’s
implementation of RECOVERY CHEM programs in Asia.
Vincent J. Arnone, President and Chief Executive Officer of Fuel
Tech, commented, “This licensing agreement represents the ongoing
execution of our strategy to cost-effectively monetize Fuel Tech’s
proven boiler efficiency improvement technologies by targeting
developing markets that can benefit from our solutions
platform.”
The pulp and paper industry is in a growth mode around the world
due to the increasing demand for paper related products. This
growth is especially evident in Asia. Global paper production was
approximately 403 million metric tons in 2013 and 45% of that
amount was produced and consumed in Asia. Fuel Tech’s RECOVERY CHEM
program is highly effective in reducing fireside deposition,
erosion and corrosion problems by the application of a
comprehensive treatment plan including specialty chemicals and
computational fluid dynamic modeling on Black Liquor Recovery
boilers used in the pulp and paper industry.
Mr. Arnone continued, “We believe that Amazon Papyrus is an
ideal partner to introduce Fuel Tech’s proven RECOVERY CHEM
technology to its pulp and paper industry customers, an important
and promising new market for our solution. Over its 16-year
history, Amazon Papyrus has established itself as a premier
specialty chemical supplier in Asia. With over 450 employees, it
has operations in Hong Kong, China, Indonesia, Malaysia, India, the
Philippines, Singapore, Thailand, Vietnam and the Middle East. In
Asia, Amazon Papyrus has developed close professional relationships
with most of the leading pulp and paper producers through its
expertise and cost-effective solutions, and we look forward to
assisting these clients in improving the operation of their Black
Liquor Recovery boilers.”
Mike Grundy, CEO of Amazon Papyrus, commented, “The agreement
between Amazon Papyrus and Fuel Tech will provide a platform for
both companies to use their respective strengths in the
implementation of the RECOVERY CHEM Program. This technology will
help pulp and paper customers in the region to improve productivity
while reducing production cost. The technology will also result in
environmental benefits for our customers in Asia."
Founded in 2000, Amazon Papyrus is a diversified specialty
chemical company headquartered in Hong Kong, China. Amazon Papyrus
serves in excess of 300 client sites with its portfolio of
specialty chemicals and site services, and its 2014-15 revenues
were approximately US$115 million. Learn more at
http://www.amazon-papyrus.com/.
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 with 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 has installed its
particulate control technologies 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.
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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Fuel TechDavid S. Collins, 630-845-4500Chief Financial
OfficerorThe Equity Group Inc.Devin Sullivan, 212-836-9608Senior
Vice President
Fuel Tech (NASDAQ:FTEK)
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