| 02/06/08 - Fuel Tech, Inc. announced the award of the first FUEL CHEM Â demonstration program in the People ' s Republic of China. Under terms of a previously announced teaming agreement, Fuel Tech and ITOCHU Hong Kong Ltd., a subsidiary of ITOCHU Corporation, will share in the financial outcome of this and any other orders secured under this exclusive arrangement. The demonstration, utilizing TIFI Targeted In-Furnace Injection technology, will be conducted on a large, coal-fired utility boiler, with chemical injection scheduled to commence next quarter. The customized FUEL CHEM program will be designed to show a number of operational and environmental benefits, including: fuel and heat efficiency improvements, made possible by cleaner heat transfer surfaces; enhanced fuel options, which will reduce overall fuel costs by enabling the plant to burn a broader spectrum of local and imported coals; and reductions in toxic air emissions and in the rate of carbon dioxide production. John F. Norris Jr., President and Chief Executive Officer, commented, " The successful penetration of the vast Chinese market with TIFI technology has been a goal of utmost importance and this demonstration is a great start to the year. Working with ITOCHU, we have identified an attractive candidate plant for demonstrating our unique capabilities, which should enable our client to achieve energy efficiency gains, lessen air pollutant and CO 2 emissions, and reduce operating and maintenance costs. " Mr. Norris concluded, " The PRC continues to benefit from a booming economy, one that will remain heavily reliant on coal as a principal energy source. With the world ' s largest fleet of coal-fired power plants, China offers a very large market for our technology and we intend to tap this market by continuing to work closely with ITOCHU, which is in advanced discussions with a number of other plants. " |