Fuel-Tech N.V. enters into a strategic agreement with Peabody Energy

STAMFORD, Conn., June 16, 2003 — Fuel-Tech N.V. announced that it has signed a strategic agreement with Peabody Energy to work together on a case-by-case basis to jointly market the company’s proprietary Targeted-In-Furnace Injection (TIFI) technology to units using high sodium coals.

Steven C. Argabright, President and Chief Operating Officer, commented, “We are very excited to be working with Peabody Energy, the world’s largest coal company. This is a real step forward and will give us another avenue for penetrating the coal-fueled utility market, which we believe represents the largest opportunity for us. An agreement with a company of this caliber is further evidence of the benefits provided by FUEL CHEM®, as well as the growing acceptance of our patented TIFI technology as a superior method for controlling slagging and fouling in furnaces and boilers using a variety of fuels, including certain Western coals.”

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 ACUITIVà¢â€ž- 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 software that was 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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