Note 4 - Restructuring Activities

6 Months Ended

Jun. 30, 2025

Notes to Financial Statements

Restructuring and Related Activities Disclosure [Text Block]

4.     Restructuring Activities

On January 18, 2019, the Company announced a planned suspension of its APC business operation in China. 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 which has taken place through June 30, 2025 includes staff rationalization and reduction, supplier and partner engagement, and the monetization of certain assets. The remaining transition activities include the execution of the activities to satisfy the requirements for the remaining APC projects in China (with a backlog totaling approximately $3) and those related to subsidiary closure.

The following table presents our revenues and net loss for the three and six months ended June 30, 2025 and 2024 in China as follows:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2025			2024			2025			2024
Total revenues	$	—		$	—		$	—		$	—
Net loss		(12	)		(15	)		(30	)		(28	)

The following table presents net assets in China as of  June 30, 2025 and December 31, 2024:

	As of
	June 30, 2025		December 31, 2024
Total assets	$	799	$	788
Total liabilities		98		84
Total net assets	$	701	$	704

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