Latest news with #FUEL
Mercury
6 days ago
- Sport
- Mercury
Dubbo best bets, inside mail for Friday, June 6, 2025
Don't miss out on the headlines from Horse Racing. Followed categories will be added to My News. Racenet and The Daily Telegraph form analyst Shayne O'Cass provides his best bets and quaddie analysis for Dubbo on Friday. The Form: Complete NSW Racing thoroughbred form, including video replays and all you need to know about every horse, jockey and trainer. Find a winner here! ■ ■ ■ ■ ■ DUBBO TIPS BEST BET Race 1 No. 1: FUEL THE JET Six-year-old having only his second start but it talented. Drawn one. NEXT BEST Race 2 No. 2: BLUE DE BEERS Local juvenile on debut from a top yard armed with some excellent trials. VALUE BET Race 7 No. 11: CUMNOCK Has the lowest rating in the field but is a local on the way up. QUADDIE Race 5: 1, 10 Race 6: 2, 6, 11, 7 Race 7: 1, 11 Race 8: 1, 2 JOCKEY TO FOLLOW KODY NESTOR could skip out to an early lead in the TAB Jockey Challenge. INSIDE MAIL - DUBBO RACE 1: WESTSIDE HOTEL COUNTRY BOOSTED SHOWCASE 3YO & UP MAIDEN HANDICAP 1000m FUEL THE JET (1) was bred to win the AJC Derby; his sire Starcraft did as did another one of his close relations, Dr Grace. Fuel The Jet has spent plenty of time in the hanger bearing in mind that this is the six-year-old's second start. Has talent, trialled well. ANDALE (2) makes his debut at home from a good draw. Trialled well three times, two of them here at Dubbo. Vormista's son, BEAUMISTA (4) sent out good signs first-up. Hails from an astute stable. Bet: Fuel The Jet to win RACE 2: KINGS HALL JEWELLERS SHOWCASE SILVER GOBLET - 2YO HANDICAP 1100m BLUE DE BEERS (2) is a Clint Lundholm-trained local dealt the visitors draw but there are only nine runners so it could have been worse. Both trials have been fantastic but he is giving away race experience to all rivals. The only winner in the Goblet is JOSEPHINE (3) who beat the Star Kingdom winner, Gemologist at Gunnedah. REGAL PROBLEM (6) ran third to Hidden Motive on debut. Bet: Blue De Beers to win, quinella 2, 3 RACE 3: PRECISION HEALTH CARE SHOWCASE SUPER MAIDEN PLATE 1300m LORD VETTORI (4) could be saved for another venue on another day given the draw. In his absence, all roads lead to CURRUMBIN ALLEY (1) who is bred to be a miler, maybe even more, so all credit to the son of Vancouver (out of a Savabeel mare) for his half-length second at Gunnedah over 1250m. Drawn 1, 1300m and every extra metre assists. GRANDINI (10) was passed late first-up by Zelestial who might be above average. Bet: Lord Vettori to win or of scratched, Currumbin Alley to win RACE 4: DUBBO RSL CLUB WINTER COUNTRY CLASSIC QUALIFIER CG&E BENCHMARK 58 HANDICAP 1300m SPEEDY HENRY (2) has two wins and a third from four starts. He was $3 in a TAB Highway on April 26 at Randwick and had excuses for what was still a pretty creditable run. He's not an outright 'good thing' here but it would be hard to make a case for something to beat him. The one most likely, if at all, is the Brett Robb-trained WASTED DAYS (5) who might well go around later in the day as an emergency (Race 6). INVASIVE (1) has come back really well. Bet: Speedy Henry to win RACE 5: DUBBO RSL CLUB WINTER COUNTRY CLASSIC QUALIFIER F&M BENCHMARK 58 HANDICAP 1300m ZELESTIAL (10) came to Australia with two runs in Ireland on her C.V, the first was a fifth to subsequent Group 3 winner Givemethebeatboys. The Lyle Chandler-trained daughter of Zoustar trialled like a bomb before her winning debut at Tamworth where she got a great ride. Scratched from Taree on Thursday to run here. WILLINGA KARISMA (1) has the home ground advantage. She's never been closer to a win. MISSY MOSS (9) has a bad draw but Bullock will help with that. Bet: Zelestial to win RACE 6: WESTERN PLAINS AUTOMOTIVE COUNTRY BOOSTED SHOWCASE CLASS 1 HANDICAP 1100m PRESSNELL (2) is a genuinely talented son of Press Statement, hence the name, think Max. This big, bold gelding has a win, a second and two fifths from his four starts. This was already a very winnable race for the Mack Griffith-trained galloper but his chances went up when he drew 2 and Bullock booked. SORRENTO PALACE (6) aims to, and can, snap a sequence of three consecutive seconds, keeping in mind that the last two were by very narrow margins indeed. Bet: Pressnell to win, quinella 2, 6, box trifecta 2, 6, 11, 7 RACE 7: FARDELLS HEAVY HAULAGE & CRANE HIRE SHOWCASE BENCHMARK 82 HANDICAP 1000m CUMNOCK (11) has the lowest Benchmark rating in this race; he's on 60, the ones at the top are both on 77. That said, he is a last start winner on the move. Was to run in the Highway on Saturday but is way down the list so run here instead where he is two from two at the track and trip. IRON HAT (1) has won six races with 12 placings. Famously unlucky at times, the Jan Bowen-trained chestnut has mixed and matched it in better races than this. ZAKOR (4) is good enough to win most country sprints; this one included. Bet: Cumnock each-way, quinella 1, 11 RACE 8: EVERGREEN TURF | ELITE SAND & SOIL SHOWCASE BENCHMARK 82 HANDICAP 1400m RHYTHM IS A DANCER (2) has won seven races in 27 starts with eight placings which is a fine achievement on his, and trainer Brett Cavanough's, behalf. Among those wins are a Country Cup at Scone and a Spring Cup at Tamworth where he beat Russley Crown each time as it happens. Walked in at Inverell last start. This is harder if only for the presence of another good, old trusty Scone resident namely THE DRAMATIST (1). That said, he needs things to pan out for him but when they do, he's city class. Bet: Rhythm Is A Dancer to win
Yahoo
12-05-2025
- Business
- Yahoo
Fuel Tech Reports 2025 First Quarter Financial Results
Select First Quarter 2025 Highlights Revenue rose 29% to $6.4 million Gross margin expanded to 46.4% Operating loss narrowed to $1.0 million Backlog rose 66% to $10.3 million Cash, cash equivalents and investments of $31.2 million, no long-term debt WARRENVILLE, Ill., May 12, 2025 (GLOBE NEWSWIRE) -- Fuel Tech, Inc. (NASDAQ: FTEK), a technology company using advanced engineering processes to provide emissions control systems and water treatment technologies in utility and industrial applications, today reported financial results for the first quarter ended March 31, 2025 ('Q1 2025'). 'We are very pleased with our first quarter performance, reinforcing our belief that 2025 will be a year of growth for our Company,' Vincent J. Arnone, President and CEO. 'Consolidated revenues and gross margin each increased compared to last year's first quarter, driven by a 92% rise in FUEL CHEM® revenue. Our business development activities for our Air Pollution Control ('APC') business segment generated $5.6 million of orders from new and existing U.S. and international customers during the first quarter of 2025, and we grew our backlog by 66% to $10.3 million, the highest quarterly backlog since 2022. At March 31, 2025, our balance sheet remained strong, with $31.2 million in cash, cash equivalents and investments and no long-term debt. 'We expect continued strong performance from our FUEL CHEM segment throughout 2025, driven by the return to full operation of our base accounts and the incremental contribution from the new commercial account that we added in the fourth quarter of 2024. We continue to pursue additional FUEL CHEM opportunities domestically and internationally, and we expect that a new demonstration of our TIFI® Targeted In-Furnace Injection™ technology is likely to commence late in the third quarter of this year at a coal-fired unit in the Midwest.' Mr. Arnone continued, 'While APC revenues decreased compared to last year's first quarter, we have been encouraged by the cadence of new contract awards and business development opportunities, which will ultimately benefit segment performance as we execute these contracts. We are continuing to pursue additional new awards driven by industrial expansion globally and by state-specific regulatory requirements in the U.S., and hope to have those in hand late in the current second quarter. We are also participating in larger domestic contract opportunities to support emissions control requirements for the development of data centers, utilizing our SCR and ULTRA® technologies.' Mr. Arnone concluded, 'We expect to commence an extended demonstration of our Dissolved Gas Infusion (DGI®) technology at a fish hatchery in the Western U.S late in the second quarter of 2025. We continue to receive inquiries regarding DGI from potential customers in multiple end markets and we are hopeful that we can generate our first commercial revenues in 2025.' Q1 2025 Consolidated Results Overview Consolidated revenues for Q1 2025 rose 29% to $6.4 million from $5.0 million in Q1 2024, driven by a 92% increase in FUEL CHEM revenue. This increase was offset by a 44% revenue decline in APC segment revenues. Consolidated gross margin for Q1 2025 increased to 46.4% of revenues from 40.9% of revenues in Q1 2024, reflecting an increase in FUEL CHEM gross margin and the relative contribution of FUEL CHEM versus APC revenue, partially offset by a decrease in APC gross margin. SG&A expenses were flat at $3.3 million for Q1 2025 and Q1 2024. As a percentage of revenues, SG&A expenses declined to 52.4% in Q1 2025 from 67.5% in Q1 2024, reflecting higher revenues. Interest income was stable at $0.3 million and related primarily to interest received on the held-to-maturity debt securities and money market funds. Net loss in Q1 2025 was $(739,000), or $(0.02) per share, compared to net income of $281,000, or $0.01 per share, in Q1 2024. Net income in Q1 2024 included a one-time other income amount of $1.7 million related to the employee retention credit. Excluding this one-time other income amount, net loss for Q1 2024 was $(1.4) million, or $(0.05) per share. Consolidated APC segment backlog at March 31, 2025 rose 66% to $10.3 million from $6.2 million at December 31, 2024. APC segment revenue decreased to $1.3 million from $2.3 million in Q1 2024, primarily related to timing of project execution on existing contracts. Segment gross margin declined to 32.6% from 38.4%, reflecting lower segment revenues. FUEL CHEM segment revenue rose 92% to $5.1 million from $2.6 million in Q1 2024, primarily due to outage completions and increased dispatch, as well as sustained business from a new customer account added midyear in 2024. Segment gross margin expanded to 49.9% from 43.2% in Q1 2024, reflecting higher segment revenues. Adjusted EBITDA loss was $(0.7) million in Q1 2025 compared to Adjusted EBITDA loss of $(1.5) million in Q1 2024. Financial Condition At March 31, 2025, cash and cash equivalents were $11.8 million, short-term investments were $10.0 million, and long-term investments totaled $9.4 million. Stockholders' equity at March 31, 2025 was $41.4 million, or $1.35 per share, and the Company had no debt. Conference Call Management will host a conference call on Tuesday, May 13, 2025 at 10:00 am ET / 9:00 am CT to discuss the results and business activities. Interested parties may participate in the call by dialing: (877) 423-9820 (Domestic) or (201) 493-6749 (International) The conference call will also be accessible via the Upcoming Events section of the Company's web site at Following management's opening remarks, there will be a question-and-answer session. Questions may be asked during the live call, or alternatively, you may e-mail questions in advance to dsullivan@ For those who cannot listen to the live broadcast, an online replay will be available at About Fuel Tech Fuel Tech develops and commercializes state-of-the-art proprietary technologies for air pollution control, process optimization, water treatment, and advanced engineering services. These technologies enable customers to operate in a cost-effective and environmentally sustainable manner. Fuel Tech is a leader in nitrogen oxide (NOx) reduction and particulate control technologies and its solutions have been installed on over 1,300 utility, industrial and municipal units worldwide. The Company's FUEL CHEM® technology improves the efficiency, reliability, fuel flexibility, boiler heat rate, and environmental status of combustion units by controlling slagging, fouling, corrosion and opacity. Water treatment technologies include DGI® Dissolved Gas Infusion Systems which utilize a patented saturator and a patent-pending channel injector to deliver supersaturated oxygen solutions and other gas-water combinations to target process applications or environmental issues. This infusion process has a variety of applications in the water and wastewater industries, including remediation, aeration, biological treatment and wastewater odor management. Many of Fuel Tech's products and services rely heavily on the Company's exceptional Computational Fluid Dynamics modeling capabilities, which are enhanced by internally developed, high-end visualization software. For more information, visit Fuel Tech's web site at NOTE REGARDING FORWARD-LOOKING STATEMENTS This press release contains 'forward-looking statements' as defined in Section 21E of the Securities Exchange Act of 1934, as amended, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and reflect Fuel Tech's current expectations regarding future growth, results of operations, cash flows, performance and business prospects, and opportunities, as well as assumptions made by, and information currently available to, our management. Fuel Tech has tried to identify forward-looking statements by using words such as 'anticipate,' 'believe,' 'plan,' 'expect,' 'estimate,' 'intend,' 'will,' and similar expressions, but these words are not the exclusive means of identifying forward-looking statements. These statements are based on information currently available to Fuel Tech and are subject to various risks, uncertainties, and other factors, including, but not limited to, contracts being awarded to competitors offering different or lower-priced technologies, projects being suspended, delayed or cancelled and other risks discussed in Fuel Tech's Annual Report on Form 10-K in Item 1A under the caption 'Risk Factors,' and subsequent filings under the Securities Exchange Act of 1934, as amended, which could cause Fuel Tech's actual growth, results of operations, financial condition, cash flows, performance and business prospects and opportunities to differ materially from those expressed in, or implied by, these statements. Fuel Tech undertakes no obligation to update such factors or to publicly announce the results of any of the forward-looking statements contained herein to reflect future events, developments, or changed circumstances or for any other reason. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including those detailed in Fuel Tech's filings with the Securities and Exchange Commission. FUEL TECH, CONSOLIDATED BALANCE SHEETS(in thousands, except share and per share data) March 31, December 31, 2025 2024 ASSETS Current assets: Cash and cash equivalents $ 11,821 $ 8,510 Short-term investments 9,968 10,184 Accounts receivable, less current expected credit loss of $106 and $106, respectively 5,635 9,368 Inventories, net 534 397 Prepaid expenses and other current assets 1,188 1,160 Total current assets 29,146 29,619 Property and equipment, net of accumulated depreciation of $18,947 and $18,958, respectively 4,979 5,084 Goodwill 2,116 2,116 Other intangible assets, net of accumulated amortization of $534 and $525, respectively 324 327 Right-of-use operating lease assets, net 566 585 Long-term investments 9,381 10,875 Other assets 197 191 Total assets $ 46,709 $ 48,797 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 1,587 $ 2,915 Accrued liabilities: Operating lease liabilities - current 75 77 Employee compensation 1,286 1,248 Other accrued liabilities 1,339 1,615 Total current liabilities 4,287 5,855 Operating lease liabilities - non-current 532 548 Deferred income taxes, net 176 176 Other liabilities 276 263 Total liabilities 5,271 6,842 Stockholders' equity: Common stock, $.01 par value, 40,000,000 shares authorized, 31,852,657 and 31,767,329 shares issued, and 30,769,258 and 30,708,273 shares outstanding, respectively 318 317 Additional paid-in capital 165,405 165,295 Accumulated deficit (120,211 ) (119,472 ) Accumulated other comprehensive loss (1,780 ) (1,915 ) Nil coupon perpetual loan notes 76 76 Treasury stock, at cost (2,370 ) (2,346 ) Total stockholders' equity 41,438 41,955 Total liabilities and stockholders' equity $ 46,709 $ 48,797 See notes to condensed consolidated financial TECH, CONSOLIDATED STATEMENTS OF OPERATIONS(in thousands, except share and per share data) Three Months Ended March 31, 2025 2024 Revenues $ 6,382 $ 4,957 Costs and expenses: Cost of sales 3,423 2,928 Selling, general and administrative 3,341 3,345 Research and development 570 376 Operating loss (952 ) (1,692 ) Interest expense — — Interest income 279 311 Other (expense) income, net (66 ) 1,673 (Loss) income before income taxes (739 ) 292 Income tax expense — (11 ) Net (loss) income $ (739 ) $ 281 Net (loss) income per common share: Basic net (loss) income per common share $ (0.02 ) $ 0.01 Diluted net (loss) income per common share $ (0.02 ) $ 0.01 Weighted-average number of common shares outstanding: Basic 30,718,000 30,385,000 Diluted 30,718,000 30,756,000 See notes to condensed consolidated financial TECH, CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)(in thousands) Three Months Ended March 31, 2025 2024 Net (loss) income $ (739 ) $ 281 Other comprehensive income (loss): Foreign currency translation adjustments 135 (143 ) Comprehensive (loss) income $ (604 ) $ 138 See notes to condensed consolidated financial TECH, CONSOLIDATED STATEMENTS OF CASH FLOWS(in thousands) Three Months Ended March 31, 2025 2024 Operating Activities Net (loss) income $ (739 ) $ 281 Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities: Depreciation 164 80 Amortization 9 16 Non-cash interest income on held-to-maturity securities (50 ) (9 ) Stock-based compensation, net of forfeitures 110 104 Changes in operating assets and liabilities: Accounts receivable 3,768 1,250 Employee retention credit receivable — (1,677 ) Inventory (137 ) (99 ) Prepaid expenses, other current assets and other non-current assets (28 ) 151 Accounts payable (1,340 ) (563 ) Accrued liabilities and other non-current liabilities (249 ) (609 ) Net cash provided by (used in) operating activities 1,508 (1,075 ) Investing Activities Purchases of equipment and patents (65 ) (114 ) Purchases of debt securities (993 ) (7,641 ) Maturities of debt securities 2,750 2,750 Net cash provided by (used in) investing activities 1,692 (5,005 ) Financing Activities Taxes paid on behalf of equity award participants (24 ) — Net cash used in financing activities (24 ) — Effect of exchange rate fluctuations on cash 135 (116 ) Net increase (decrease) in cash and cash equivalents 3,311 (6,196 ) Cash and cash equivalents at beginning of period 8,510 17,578 Cash and cash equivalents at end of period $ 11,821 $ 11,382 See notes to condensed consolidated financial TECH, Data- Reporting Segments(in thousands) Information about reporting segment net sales and gross margin from operations is provided below: Air Pollution FUEL CHEM Three months ended March 31, 2025 Control Segment Segment Other Total Revenues from external customers $ 1,303 $ 5,079 $ — $ 6,382 Cost of sales (878 ) (2,545 ) — (3,423 ) Gross margin 425 2,534 — 2,959 Selling, general and administrative — — (3,341 ) (3,341 ) Research and development — — (570 ) (570 ) Operating income (loss) from operations $ 425 $ 2,534 $ (3,911 ) $ (952 ) Air Pollution FUEL CHEM Three months ended March 31, 2024 Control Segment Segment Other Total Revenues from external customers $ 2,318 $ 2,639 $ — $ 4,957 Cost of sales (1,428 ) (1,500 ) — (2,928 ) Gross margin 890 1,139 — 2,029 Selling, general and administrative — — (3,345 ) (3,345 ) Research and development — — (376 ) (376 ) Operating income (loss) from operations $ 890 $ 1,139 $ (3,721 ) $ (1,692 )FUEL TECH, Segment Financial Data(in thousands) Information concerning our operations by geographic area is provided below. Revenues are attributed to countries based on the location of the end-user. Assets are those directly associated with operations of the geographic area. Three Months Ended March 31, 2025 2024 Revenues: United States $ 5,359 $ 3,595 Foreign 1,023 1,362 $ 6,382 $ 4,957 March 31, December 31, 2025 2024 Assets: United States $ 42,788 $ 44,430 Foreign 3,921 4,367 $ 46,709 $ 48,797 FUEL TECH, OF GAAP NET LOSS TO EBITDA AND ADJUSTED EBITDA (in thousands) Three Months EndedMarch 31, 2025 2024 Net (loss) income $ (739 ) $ 281 Interest income, net (279 ) (311 ) Income tax expense - 11 Depreciation expense 164 80 Amortization expense 9 16 EBITDA (845 ) 77 Stock compensation expense 110 104 Gain on employee retention credit - (1,677 ) ADJUSTED EBITDA $ (735 ) $ (1,496 ) Adjusted EBITDA To supplement the Company's consolidated financial statements presented in accordance with generally accepted accounting principles in the United States (GAAP), the Company has provided an Adjusted EBITDA disclosure as a measure of financial performance. Adjusted EBITDA is defined as net income (loss) before interest expense, income tax expense (benefit), depreciation expense, amortization expense, stock compensation expense, and intangible assets abandonment and building impairment. The Company's reference to these non-GAAP measures should be considered in addition to results prepared in accordance with GAAP standards, but are not a substitute for, or superior to, GAAP results. Adjusted EBITDA is provided to enhance investors' overall understanding of the Company's current financial performance and ability to generate cash flow, which we believe is a meaningful measure for our investor and analyst communities. In many cases non-GAAP financial measures are utilized by these individuals to evaluate Company performance and ultimately determine a reasonable valuation for our common stock. A reconciliation of Adjusted EBITDA to the nearest GAAP measure of net loss has been included in the above financial table. CONTACT: Vince Arnone Devin Sullivan President and CEO Managing Director (630) 845-4500 The Equity Group Inc. dsullivan@
Yahoo
25-02-2025
- Business
- Yahoo
Louisiana company building machines to extract hydrogen power from the air
NovaSpark's smallest mobile atmospheric hydrogen generator. (Photo courtesy of NovaSpark) Imagine powering military vehicles, industrial machines and buildings with a clean fuel extracted from the air using a portable self-sustaining generator. The technology exists right here in Louisiana. NovaSpark, an energy technology company with locations in West Monroe and Houston received a $25,000 prize this month from the Future Use of Energy in Louisiana (FUEL) competition for developing the world's first mobile atmospheric hydrogen generator, which takes water out of the air and transforms it to hydrogen on-the-go. FUEL, a collaboration among companies, universities and state agencies, designs energy innovation competitions funded by the National Sciences Foundation. NovaSpark's mobile hydrogen generator pulls water vapor from the air like a dehumidifier and transforms it into hydrogen using electrolysis, the process of passing an electric current through water to separate its molecules into hydrogen and oxygen gases. The unit can then pump the hydrogen into vehicles, hydrogen fuel cells or storage tanks. The energy needed to power the water vapor extractor, electrolysis system and other components comes from a wind turbine and a folding solar panel array that sit atop the unit, all of which fits on a small single-axle trailer. In an interview, NovaSpark CEO Rick Harlow said the company began developing the technology about two years ago as part of a U.S. military experiment. The Pentagon's Defense Innovation Unit asked American startups to come up with new ways to generate fuel in 'austere and isolated environments.' NovaSpark, which counts retired Gen. Glenn Curtiss of the Louisiana National Guard as one of its five owners, answered the call and now has contracts to build units for the Army, Marine Corps and Air Force out of its facility in West Monroe. The company is also developing hydrogen systems for high-altitude reconnaissance balloons, vehicles, drones and tactical electronic systems for the military, Harlow said. Most military vehicles and aircraft currently use diesel, but the Pentagon is interested in hydrogen power's stealth capabilities and its high energy density. Hydrogen vehicles are electric powered and don't actually burn hydrogen in the way that a space rocket does. Rather, they have fuel cells, which are tanks containing water and metals. When hydrogen is added, the fuel cells become electrochemical batteries that power an electric motor. A hydrogen fuel cell vehicle is two to three times more efficient than a gasoline or diesel vehicle, according to the U.S. Department of Energy. They are quieter and have a lower heat signature that can make them difficult to detect on thermal targeting systems. The concept of pulling water vapor out of the air and turning it into hydrogen fuel has been around for a long time but was never fully developed for various reasons. The fossil fuel industry has long dominated vehicle propulsion, and it wasn't always economical to produce hydrogen for vehicles. Most hydrogen is produced by large industrial facilities burning coal or methane, and it can be very expensive to store and transport. So it's often most viable to produce hydrogen directly on-site and as needed, Harlow said. In recent years, the affordability of solar and wind technology made it relatively cost-effective to produce hydrogen on-site with renewable energy. This is especially true for military applications, which can rack up exorbitantly expensive fossil fuel bills. Harlow pointed to reports that the Department of Defense ships diesel to some theaters of operation at a cost of $400 per gallon. NovaSpark's mobile generator produces as much as 5 kilograms of hydrogen per day, enough to power a car for about 375 miles. The unit works well in about 90% of the earth's climate regions with the most challenging being in the coldest and driest areas such as northern Canada, Harlow said. It performs well in desert environments and can actually produce clean drinking water with its vapor extractor, so it has a dual use application, he said. The unit can also tap into existing water sources such as rivers and creeks. Troops can pour dirty water into the machine, and it will purify it for drinking and extract the hydrogen for fuel, according to Harlow. NovaSpark has two other types of hydrogen generators under development. One is a medium-sized stationary unit suitable as a backup power supply for commercial buildings, and the third is a large 1-megawatt unit that fits on an 18-wheeler trailer. The company has partnered with the Shreveport-based Module Solutions, which specializes in solar arrays and other microgrid components, and is working with experts and researchers from the University of Louisiana-Monroe, Louisiana Tech University and Louisiana Clean Fuels. Aside from the atmospheric hydrogen generators, part of NovaSpark's business is building hydrogen fuel cells for drones. When asked about plans for the near future, Harlow said the company is planning to scale up its operations but is still hashing out the details. Harlow said he could not discuss the details of some of the contracts but mentioned the Pentagon's 'Replicator' initiative as one area of business. Replicator is an effort that began last year to fast-track the military's purchasing of thousands of drones to kickstart innovation and compete with China, which currently dominates certain areas of the drone industry. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX
