On January 11, 2021, Fuel Tech, Inc. received a notice from BMO Harris Bank
National Association regarding forgiveness of the loan in the principal amount
of $1.556 million that was made pursuant to the Small Business Administration
Paycheck Protection Program ("PPP") under the Coronavirus Air, Relief and
Economic Security Act of 2020. According to the Notice, the full principal
amount of the PPP Loan and the accrued interest have been forgiven.
Fuel Tech, Inc. is a technology company, which is engaged in the development, commercialization and application of proprietary technologies for air pollution control, process optimization, water treatment and advanced engineering services. It has two segments: Air Pollution Control technology and FUEL CHEM technology. The Air Pollution Control technology segment includes technologies to reduce oxides of nitrogen (NOx) emissions in flue gas generated by the firing of natural gas or coal from boilers, incinerators, furnaces and other stationary combustion sources. These include NOxOUT and HERT Selective Non-Catalytic Reduction (SNCR) systems, and Selective Catalytic Reduction (SCR) systems. The FUEL CHEM technology segment uses chemical processes in combination with advanced computational fluid dynamics and chemical kinetics modeling boiler modeling for the control of slagging, fouling, corrosion, opacity and other sulfur trioxide-related issues in coal-fired furnaces and boilers.
FUEL TECH, INC. 
