On May 16, 2017, Fuel Tech, Inc. (the “Company”) received a letter from the Listing Qualifications Department of The NASDAQ Stock Market (“NASDAQ”) notifying the Company that, based upon the closing bid price of the Company’s common stock that trades under the symbol “FTEK” (“Common Stock”) for the last 30 consecutive business days, the Common Stock did not meet the minimum bid price of $1.00 per share required by NASDAQ Listing Rule 5450(a)(1) (the “Minimum Bid Rule”), initiating an automatic 180 calendar-day grace period for the Company to regain compliance.

The notice has no immediate effect on the listing or trading of the Company’s Common Stock, and the Common Stock will continue to trade on the NASDAQ under the symbol “FTEK”.

In accordance with NASDAQ Listing Rule 5810(c)(3)(A), the Company has a period of 180 calendar days from the date of the notification, or until November 13, 2017 to achieve compliance with the Minimum Bid Rule. The Company will regain compliance with the Minimum Bid Rule if at any time before November 14, 2017, the bid price for the Company’s Common Stock closes at or above $1.00 per share for a minimum of 10 consecutive business days.

The Company intends to meet the requirements for the Minimum Bid Rule in the future and is evaluating the manner to do so. In that regard, prior to receipt of the above-referenced letter, as previously reported in the Company’s 2017 Proxy Statement filed with the United States Securities and Exchange Commission (the “SEC”) on March 27, 2017 (the “Proxy Statement”), the Company submitted for stockholder approval a proposal to give the Board of Directors of the Company (the “Board”) the authority, at the Board’s discretion, to implement a reverse stock split within the timeframe stated and in the manner described in the Proxy Statement to increase the per share trading price of the Company’s Common Stock.>>The stockholders of the Company approved that proposal at the May 18, 2017 Annual Meeting of the Company’s stockholders. If the Board proceeds with the reverse stock split, the Company anticipates that action would increase the per share trading price of the Company’s Common Stock to regain compliance with the Minimum Bid Rule and to maintain the eligibility of the Company’s Common Stock for listing on the NASDAQ Stock Market.

About FUEL TECH, INC. (NASDAQ:FTEK)

Fuel Tech, Inc. is a technology company. The Company is engaged in the development, commercialization and application of technologies for air pollution control, process optimization, combustion efficiency and engineering services. It operates through three segments: Air Pollution Control technology, FUEL CHEM technology and Fuel Conversion. The Air Pollution Control technology segment includes technologies to manage nitrogen oxides (NOx) emissions in flue gas from boilers, incinerators, furnaces and other stationary combustion sources. The FUEL CHEM technology segment uses chemical processes in combination with computational fluid dynamics (CFD) and chemical kinetics modeling (CKM) boiler modeling, for the control of slagging, fouling, corrosion, opacity and other sulfur trioxide-related issues in furnaces and boilers through the addition of chemicals into the furnace. The Fuel Conversion segment represents the CARBONITE fuel conversion process and technology.

FUEL TECH, INC. (NASDAQ:FTEK) Recent Trading Information

FUEL TECH, INC. (NASDAQ:FTEK) closed its last trading session up +0.021 at 0.891 with 12,878 shares trading hands.