DALLAS, Jan. 12, 2015 (GLOBE NEWSWIRE) -- PMFG, Inc. (the "Company") (Nasdaq:PMFG) today announced that it has been awarded a $4.5 million contract for two SCR and CO/VOC oxidation systems for two CCGT power generators to be installed in the New England region in early 2016. The equipment will be part of a new quick start combined cycle power plant and reduce NOX emissions by more than 90%. The Company expects to recognize revenue related to the power generation project over the balance of fiscal year 2015 and the first three quarters of fiscal year 2016.
Peter Burlage, Peerless' president and chief executive officer, commented, "As we highlighted in our previous conference calls, we expect the global power generation market to remain a key driver for our company. This contract is certainly representative of the opportunities available to us and I am encouraged by the recent activity in the sector."
Mr. Burlage continued, "Our equipment is specifically designed for the next generation North American power plant. Newer combined-cycle plants are now designed for rapidly changing power demand due in part to increased wind and solar power generation sources. Peerless' SCR systems has been enhanced to provide a startup cycle that takes a fraction of the time of our previous generation systems for these newer load following combined-cycle power plants."
About PMFG
PMFG is a leading provider of custom-engineered systems and products designed to help ensure that the delivery of energy is safe, efficient and clean. PMFG primarily serves the markets for power generation, natural gas infrastructure and petrochemical processing. Headquartered in Dallas, Texas, PMFG markets its systems and products worldwide.
Safe Harbor Under The Private Securities Litigation Reform Act of 1995
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