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Richard Grulek

Research Analyst at Reg Capital Advisors

Richard E. Greulich, Jr. is the President and CEO of REG Capital Advisors, specializing in value-oriented equity investment and personalized portfolio management for individuals, families, and small businesses. With a career spanning over 40 years, he began at Citibank in 1976, spent 18 years at Neuberger Berman focusing on institutional research and portfolio management, and later managed investments at William D. Witter, Inc. before founding REG Capital Advisors in 2007. Although specific performance metrics and company coverage are not publicly disclosed, his leadership draws on extensive experience with a focus on long-term client relationships and disciplined investment strategies. Greulich holds a CFA designation, as well as an M.B.A. from Northwestern University's Kellogg School of Management and a B.A. in Economics, Cum Laude, from Hanover College.

Richard Grulek's questions to FUEL TECH (FTEK) leadership

Question · Q3 2025

Richard Grulek inquired whether the previously mentioned global sales pipeline of $75 million-$100 million from the last quarter's conference call included the data center opportunities, seeking clarification on the composition of Fuel Tech's sales pipeline.

Answer

Chairman, President, and CEO Vincent Arnone clarified that the $75 million-$100 million pipeline discussed last quarter specifically referred to data center opportunities, with an additional $10 million-$20 million for regular, ordinary APC business. He further explained that the current $80 million-$100 million pipeline he discussed today is solely for data center opportunities, separate from an additional $10 million-$20 million pipeline for standard APC business.

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