Fuel Tech, Inc. engages in the development, commercialization, and application of technologies for air pollution control, process optimization, water treatment, and advanced engineering services to utility and industrial customers in the United States, rest of the Americas, Europe, South Africa, the Pacific Rim, and internationally. The Air Pollution Control Technology segment offers technologies to reduce nitrogen oxide emissions (NOx) in flue gas from boilers, incinerators, furnaces, and other stationary combustion sources; NOxOUT selected non-catalytic reduction and selected catalytic reduction systems, including ammonia injection grid and graduated straightening grid systems; electrostatic precipitator processes and services; ULTRA technology; urea direct injection systems; and flue gas conditioning systems. Its FUEL CHEM Technology segment provides chemical injection programs to improve the efficiency, reliability, fuel flexibility, boiler heat rate, and environmental status of combustion units for the control of slagging, fouling, corrosion, opacity, and acid plume, as well as the formation of sulfur trioxide, ammonium bisulfate, particulate matter, sulfur dioxide, and carbon dioxide through the addition of chemicals into the furnace using targeted in-furnace injection technology. This segment also offers its FUEL CHEM program for plants operating in the electric utility, industrial, pulp and paper, waste-to-energy, and university and district heating markets; and the owners of boilers, furnaces, and other combustion units for treating a wide variety of solid and liquid fuels, including coal, heavy oil, black liquor, biomass, and municipal waste. In addition, the company provides dissolved gas infusion systems, which utilize a proprietary channel injector and a patented saturator that infuses oxygen, carbon dioxide, or other gases into water; and visualization software. Fuel Tech, Inc. was incorporated in 1987 and is headquartered in Warrenville, Illinois.
Fuel Tech Reports 2026 Second Quarter Financial Results
Fuel Tech reported Q2 2026 revenue of $6.5 million, up 17% year-over-year, supported by strong performance in both FUEL CHEM and APC segments, though consolidated gross margin declined to 41% and net loss widened to $(1.2) million.
The company announced a leadership transition effective August 10, 2026, with Ramesh Nuggihalli succeeding Vincent J. Arnone as President and CEO, while Arnone moves to the Board of Directors.
Despite the earnings decline, the balance sheet remains robust with approximately $30 million in cash and investments and no long-term debt, while APC backlog has more than doubled to roughly $17 million compared to the end of 2025.