FUEL TECH, INC.

Fuel Tech, Inc. announced a change in its Board leadership. Vincent J. Arnone has resigned as Chairman of the Board, effective September 15, 2026, though he will continue to serve as a member of the Board. His decision was not due to any disagreements with the company. Sharon L. Jones, an existing independent board member, has been elected to succeed Mr. Arnone as Chairman, effective September 16, 2026.

Fuel Tech, Inc. announced the retirement and resignation of Vincent J. Arnone as Chief Executive Officer and President, effective August 10, 2026. Mr. Arnone will continue to serve on the Board of Directors and assist with the transition until September 15, 2026. The company has appointed Ramesh Nuggihalli as the new Chief Executive Officer and President, effective August 10, 2026, following an extensive executive search. Mr. Nuggihalli's compensation includes an initial base salary of $440,000 and a grant of 300,000 Restricted Stock Units.

Fuel Tech, Inc. announced Ramesh Nuggihalli will succeed Vincent J. Arnone as President and CEO, effective August 10, 2026, with Arnone joining the Board. The company reported Q2 2026 consolidated revenues of $6.5 million, a 17% increase year-over-year, driven by strong performance in both FUEL CHEM and Air Pollution Control (APC) segments. Despite revenue growth, the company posted a net loss of $(1.2) million and an Adjusted EBITDA loss of $(1.2) million, with gross margin declining to 41%. Fuel Tech ended the quarter with approximately $30 million in cash, cash equivalents, and investments, and no long-term debt, while APC backlog more than doubled to $14.3 million.

Fuel Tech, Inc. announced two new air pollution control (APC) contracts totaling approximately $2.6 million with industrial customers. One contract is with a new domestic customer for Selective Catalytic Reduction (SCR) systems for two natural gas turbines, with delivery expected in Q4 2027. The second is a change order from a repeat domestic customer to accelerate an existing SCR project, with delivery by Q3 2026. These awards bring Fuel Tech's year-to-date announced bookings to $12.6 million.

Fuel Tech, Inc. announced it will release its financial results for the second quarter ended June 30, 2026, on Tuesday, August 4, 2026, after the stock market closes. Following the release, management will host a conference call on Wednesday, August 5, 2026, at 10:00 am ET to discuss the results and business activities. Interested parties can participate via dial-in numbers or a webcast on the company's website, with an online replay also available.

Fuel Tech, Inc. announced its inclusion in the Russell Microcap® Index, effective June 29, 2026, as part of the annual reconstitution of Russell indexes. This move is expected to enhance the company's visibility among a broader base of institutional and retail investors. CEO Vincent J. Arnone highlighted that this recognizes Fuel Tech's established presence in emissions control and water treatment technologies and its expansion into new energy infrastructure areas.

FUEL TECH, INC. reported a widened net loss of $1.36 million for the first quarter ended March 31, 2026, compared to a net loss of $0.74 million in the prior year period. Total revenues decreased by 4.7% to $6.08 million. The company's operating loss also increased significantly to $1.60 million from $0.95 million year-over-year, primarily driven by higher selling, general, and administrative expenses. The company continues its restructuring activities in China, with remaining transition activities including satisfying requirements for remaining APC projects and subsidiary closure.

Fuel Tech, Inc. reported a net loss of $(1.4) million, or $(0.04) per share, on consolidated revenues of $6.1 million for Q1 2026, a 5% decline year-over-year. The Air Pollution Control (APC) segment saw a 23% revenue increase to $1.6 million, while the FUEL CHEM segment revenue declined to $4.5 million. The company also announced new APC awards valued at approximately $10 million, bringing the proforma APC backlog to its highest level since 2018.

Fuel Tech, Inc. announced the award of multiple air pollution control (APC) contracts valued at approximately $10 million with domestic utility and industrial customers. The largest contract involves integrating Fuel Tech's Selective Catalytic Reduction (SCR) technology with two new natural gas-fired turbines for a Midwest municipal utility, increasing output by 100 MW and becoming operational in 2029. Additionally, two industrial customers placed orders for SNCR and SCR system enhancements, both slated for completion in Q3 2026.

Fuel Tech, Inc. announced it will release its first-quarter 2026 financial results on Tuesday, May 5, 2026, after the stock market closes. Following the release, management will host a conference call on Wednesday, May 6, 2026, at 10:00 am ET to discuss the results and business activities. Interested parties can participate via dial-in or the company's website, with an online replay also available.