CoaLogix' SCR-Tech Awarded the World's First Contract for Regenerated Catalyst for a New Coal-Fired SCR System
CoaLogix Inc. (NASDAQ: ACFN) announced today that its subsidiary, SCR-Tech, LLC, has received the first contract ever awarded for supplying regenerated catalyst for the initial loading for a new SCR installation from a utility customer. SCR catalyst is used to reduce nitrogen-oxides in coal-fired utility plants.
In the past, utilities and SCR system OEMs have chosen to use new catalyst for the initial loading and reserved regenerated catalyst for additions or replacements. However, this utility, having had good results in using SCR-Tech's regenerated catalyst to replace spent ones, chose to include them for a new SCR installation. The contract includes regenerated SCR catalyst modules from SCR-Tech's inventory as well as other management related services. The financial terms of this contract were not disclosed.
According to Bill McMahon, CEO of CoaLogix, "This award demonstrates that the landscape for SCR catalyst initial loading at coal-fired power plants has changed. We are very pleased to be awarded this first of its kind contract, which is a direct result of SCR-Tech earning the "trusted advisor" role from prior regeneration and SCR services."
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.