Note 13 - Restructuring Activities

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Restructuring and Related Activities Disclosure [Text Block]

13.     RESTRUCTURING ACTIVITIES

On January 18, 2019, the Company announced a planned suspension of its APC business operation in China (Beijing Fuel Tech). This action was part of Fuel Tech’s ongoing operational improvement initiatives designed to prioritize resource allocation, reduce costs, and drive profitability for the Company on a global basis. The transition associated with the suspension of the APC business includes staff rationalization, supplier and partner engagement, and the monetization of certain assets. The remaining transition activities include the execution of the remaining activities to satisfy the requirements for the remaining APC projects in China (with a backlog totaling approximately $3 as of December 31, 2024) and those related to subsidiary closure.

The following table presents our revenues and net loss in China for the years ended December 31, 2024 and 2023:

	2024			2023
Total revenues	$	—		$	2
Net loss		(53	)		(50	)

The following table presents net assets in China as of   December 31, 2024 and 2023:

	2024		2023
Total assets	$	788	$	846
Total liabilities		84		67
Total net assets	$	704	$	779

Total assets primarily consist of cash and other receivables. Total liabilities consist of accounts payable and certain accrued liabilities.

The Company recorded no restructuring charges for the years ended December 31, 2024 and 2023.