Fuel-Tech N.V. awarded $2.2 million contract for NOx technology

STAMFORD, Conn., May 2, 2003 — Fuel-Tech N.V., a provider of air pollution control technology and advanced engineering solutions for energy systems, has received a $2.2 million order from a Midwest utility for its proprietary NOxOUT ULTRA® technology. The NOxOUT ULTRA system will be installed on a 360 megawatt (MW) coal-fired boiler.

The NOxOUT ULTRA process, which is complementary to the Company’s broad offering of superior nitrogen oxide (NOx) reduction technologies, provides for the safe and cost-effective conversion of urea to ammonia for use as a reagent in the selective catalytic reduction (SCR) of NOx.

This contract represents the second installation of this technology on a coal-fired utility boiler. As previously announced, Fuel Tech received a design and engineering order for an ULTRA system on a third coal-fired utility boiler, and expects to receive the equipment release shortly.

Steven C. Argabright, President and Chief Operating Officer, stated, “We are extremely pleased that our NOxOUT ULTRA technology continues to penetrate the marketplace. Our customer was attracted to both our advanced technology and simple process for the conversion of urea to ammonia onsite, eliminating the hazards associated with its transportation and storage.”

Argabright continued, “By safely and effectively converting urea to ammonia, the NOxOUT ULTRA process provides the Company with the ability to access the SCR market, which requires an ammonia reagent to effectively lower emission levels. The NOxOUT ULTRA technology therefore allows us to participate incrementally in the NOx reduction market over the next several years as industrial and utility customers implement their NOx reduction programs.”

About Fuel-Tech N.V.

Fuel-Tech N.V. is a 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. The Company’s NOx reduction processes, which include the NOxOUT®, NOxOUT CASCADE®, NOxOUT ULTRA®, Rich Reagent Injection (RRI) and NOxOUT SCR® technologies, have established Fuel-Tech N.V. as a leader in post combustion NOx control systems, which are installed on over 300 units worldwide.

New technologies that have grown out of the core NOx reduction business form the basis of the FUEL CHEM® and ACUITIVâ„- businesses. FUEL CHEM technology centers around the unique application of chemicals to improve the performance of combustion units while the Company’s ACUITIV business includes high-end visualization services and software that were developed as part of Fuel Tech’s sophisticated Computational Fluid Dynamics (CFD) modeling techniques utilized to predict the behavior of industrial processes. The Company’s FUEL CHEM products are being applied to over 80 combustion units burning a variety of fuels. For more information, visit Fuel-Tech N.V.’s web site at www.fueltechnv.com.

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