07-05-2012

PMFG Inc awarded environmental systems orders with combined value of $4.7M

PMFG, Inc today announced it was awarded two orders for environmental emissions control equipment valued in excess of $4.7 million. The first order is for a Selective Catalytic Reduction ("SCR") system for a fractionation facility in the United States that will produce 100,000 barrels per day of natural gas liquids ("NGL"). The SCR system will be applied to a fired heater used in the NGL process to transform Nitrogen Oxide ("NOx") emissions into harmless nitrogen and water. The equipment for this order is scheduled for delivery by the third quarter of fiscal year 2013. The second order includes two SCR systems for NOx emissions control and oxidation catalysts for Carbon Monoxide/Volatile Organic Compounds ("CO/VOC") emissions control for a new, natural-gas-fired combined-cycle power generation facility in the northeastern United States. This project has a delivery schedule for the equipment that extends from the third quarter of fiscal year 2013 through the second quarter of fiscal year 2014.

PMFG's Chief Executive Officer, Peter Burlage, stated, "These significant project wins are great examples of the favorable macro trends we view as important strategic growth drivers of our Environmental and Process Products business segments. We believe the low-cost abundant natural gas supply in the U.S. is the critical factor driving the development of both of these projects. Natural gas is a clean, relatively inexpensive and reliable fuel source for power generation that will likely be the choice for both replacement and new-generation capacity in the near term. There are many opportunities in the U.S. today similar to the NGL project as well as to replace older plants, both gas-fired and coal-fired. With our SCR technology, we are well positioned to help customers cut NOx emissions by more than 90 percent. We have an extensive portfolio of products well matched with these trends that play vital roles in making the emissions from natural gas cleaner and in protecting the critical functioning of natural gas pipelines, storage facilities and production wells."