FUEL TECH, INC.

As used in this Annual Report on Form 10-K, the terms we, us, or our, refer to Fuel Tech, Inc. and our wholly owned subsidiaries. GENERAL We are a leading technology company engaged in the worldwide development, commercialization and application of sustainable state-of-the-art proprietary technologies for air pollution control, process optimization, water treatment and advanced engineering services. These technologies enable our customers to operate efficiently in a cost-effective and environmentally sustainable manner. The Company’s nitrogen oxide (NOx) reduction technologies include NOxOUT and Advanced Selective Non-Catalytic Reduction (SNCR) systems and ASCR Advanced Selective Catalytic Reduction systems. SCR reagent supply systems include the ULTRA and U2A processes for safe ammonia generation and UDI Urea Direct Injection systems, along with aqueous and anhydrous ammonia storage and delivery systems. These technologies have established Fuel Tech as a leader in NOx reduction, with installations on over 2,000 units worldwide. Fuel Tech’s Air Pollution Control (APC) technologies include particulate control with Electrostatic Precipitator (ESP) products and services with experience on units up to 700 MW. Flue Gas Conditioning (FGC) systems include treatment using sulfur trioxide (SO3) and ammonia-based conditioning agents to improve the performance of ESPs by modifying the properties of fly ash particles. Fuel Tech’s particulate control technologies have been installed on more than 600 units worldwide.