Companies · Other Energy

Fuel Tech, Inc.

Warrenville · Other Energy

Diligence memoA one-page analyst read on Fuel Tech, Inc. — recommendation, valuation, rhythm, risks.
$25.8M
Total raised · real
1
Rounds
Latest step-up
Top 17%
Sector rank · raised
Series B
Latest stage · inferred · Thu Feb 11 2021 00:00:00 GMT+0000 (Coordinated Universal Time)

Fuel Tech, Inc. looks fair against its niche peers and is dormant on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the energy sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Fair
  • Modeled value is 1.30× the median modeled value of Series B Other Energy companies in 2019–2021 (30 peers) — value vs value, same stage and era.
  • Within the normal band (130% of peer median) for its niche.
Dormant
  • Last raise 5.4 yr ago; this sector typically re-raises about every 12 months.
  • Only one round on record and long silent — often defunct, acquired, or gone quiet.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Other Energy

Fuel Tech, Inc. is one of 2048 Other Energy companies tracked from Warrenville. By capital raised it ranks in the upper tier (ahead of 84% of sector peers), and among the largest by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

As reported in public records reported — not modeled.

US
Jurisdiction
$5M–$25M
Issuer revenue
Rule 506(b)
Reg D exemption
15
Investors (latest)
2021-02-11
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$125M$250M$375M$500MSeries B · 2021-02-11 Raised $26M (real) Modeled valuation $265M (est)$26M$265MSeries B2021

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Series B$25.8M · 2021

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series A — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 25%.

Modeled valuation trajectory
$265.4M
Base estimate est.
$61.3M
Conservative case
$907.7M
Upside case
$143.4M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Ba $15M–$40M round). Valuation is modeled from stage benchmarks scaled by the energy sector profile. Directional, not a quoted figure.

Not enough modeled valuation points to chart a trajectory.

Model inputs · modeled:benchmark-stage-stepup-v1
18%
Dilution assumption
Implied ownership sold in the financing.
65%
Survival probability
43% low · 79% high
1.22×/yr
Annual markup
1.47×/yr upside case
5.4 yr
Elapsed time used
5.4 yr actual, capped for stale marks
energy
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
Avg between rounds
Capital velocity
5.4 yr
On record since
2021
First round
1
Rounds on file
How it compares to the market

Benchmarked against 2048 companies in Other Energy. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 7.5× above median
This company$25.8M
Sector median$3.4M
Latest round — vs other Series B rounds in sector (real $, this stage) 1.3× above median
This company$25.8M
Sector median$19.1M
Modeled value — vs sector median (estimate, all stages) 16× above median
This company$265.4M
Sector median$17.0M

Raised more than 84% of sector peers (real $). Modeled value above 91% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series B) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #9 of 30.

This companyCohort peer
$100.0M$1.0B$10.0M$100.0MCapital raised (log)CalBioGas Investors I LLC · Series B Raised $35.6M · modeled $412.9M (est)Crown Lng Holdings Llc · Series B Raised $40.0M · modeled $407.2M (est)PowerTeam Management Feeder, LLC · Series B Raised $30.2M · modeled $349.9M (est)Monarch Resource Partners Holdings LLC · Series B Raised $36.6M · modeled $320.7M (est)NG Advantage LLC · Series B Raised $50.6M · modeled $309.5M (est)Sunshine Silver Mining & Refining Corp · Series B Raised $37.0M · modeled $292.3M (est)BayoTech Holdings, LLC · Series B Raised $40.0M · modeled $286.5M (est)Resource Anadarko Royalties LLC · Series B Raised $23.8M · modeled $275.6M (est)Natural Power Concepts Commercial Inc. · Series B Raised $22.0M · modeled $255.2M (est)BHP Capital, Inc. · Series B Raised $22.0M · modeled $233.1M (est)Old Falls Group, LLC · Series B Raised $20.0M · modeled $232.1M (est)Fuel Tech, Inc. (this company) Raised $25.8M · modeled $265.4M (est)Fuel Tech, Inc.
CompanyStageRaised · realValue · estvs peer med.
CalBioGas Investors I LLCSeries B$35.6M$412.9M2.02×
Crown Lng Holdings LlcSeries B$40.0M$407.2M1.99×
PowerTeam Management Feeder, LLCSeries B$30.2M$349.9M1.71×
Monarch Resource Partners Holdings LLCSeries B$36.6M$320.7M1.57×
NG Advantage LLCSeries B$50.6M$309.5M1.51×
Sunshine Silver Mining & Refining CorpSeries B$37.0M$292.3M1.43×
BayoTech Holdings, LLCSeries B$40.0M$286.5M1.40×
Resource Anadarko Royalties LLCSeries B$23.8M$275.6M1.35×
Fuel Tech, Inc. this companySeries B$25.8M$265.4M1.30×
Natural Power Concepts Commercial Inc.Series B$22.0M$255.2M1.25×
BHP Capital, Inc.Series B$22.0M$233.1M1.14×
Old Falls Group, LLCSeries B$20.0M$232.1M1.13×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Series B$25.8M2021-02-11$143.4M$265.4M90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Series B$25.8M2021-02-11
    • First recorded raise — entered as Series B.
    • 15 investors on this round.
Intelligence
Modeled next raise
$41.3M
Modeled next size est.range $26.8M$66.1M
Last step-up
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Dennis Zeitler2021-02
Douglas Bailey2021-02
Ellen Albrecht2021-02
James Markowsky2021-02
Sharon Jones2021-02
Thomas Shaw, Jr.2021-02
Vincent Arnone2021-02
Registry & provenance

Fuel Tech, Inc. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
846913
SEC CIK
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
Upower, Inc.Other EnergySeries B$25.5M$290.1Msame sector · same stage
Merlin Solar Technologies, Inc.Other EnergySeries B$26.3M$64.0Msame sector · same stage
Keahole Solar Power LlcOther EnergySeries B$25.4M$86.1Msame sector · same stage
OFS Energy Fund III (M), LPOther EnergySeries B$25.3M$212.7Msame sector · same stage
American Superconductor Corp /De/Other EnergySeries B$25.0M$290.1Msame sector · same stage
Brightcore Energy LLCOther EnergySeries B$25.0M$187.3Msame sector · same stage
Brothers Investment Group International LLCOther EnergySeries B$25.0M$290.1Msame sector · same stage
CRS Holdco LLCOther EnergySeries B$25.0M$290.1Msame sector · same stage
Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
GasTechno Energy & Fuels (USA) LLCOther EnergySeed$5.3M91%
Gastechno CorpOther EnergySeries B$84.1M91%
Eco-Fueling, Inc.Other TechnologyPre-Seed$10.6M90%
Terrestrial Energy Inc.Other EnergySeries B$112.6M90%
FuelGems Inc.Other TechnologyPre-Seed$1.1M90%
Booster Fuels, Inc.Other TechnologySeries C$209.3M90%
Next Energy Technologies, Inc.Other EnergySeries A$45.9M89%
Fluid Efficiency CorpOther EnergySeries A$33.1M88%
Frequently asked
How much funding has Fuel Tech, Inc. raised?
Fuel Tech, Inc. has raised approximately $25.8M in disclosed capital across 1 recorded financing round, aggregated from public filings.
What is Fuel Tech, Inc.'s estimated valuation?
Provath's modeled valuation for Fuel Tech, Inc. is approximately $265.4M (modeled range $61.3M–$907.7M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Fuel Tech, Inc. at?
Fuel Tech, Inc.'s latest modeled financing stage is Series B. Its most recent recorded round closed around Thu Feb 11.
What does Fuel Tech, Inc. do and where is it based?
Fuel Tech, Inc. operates in the Other Energy sector, based in Warrenville.
Explore related

See where Fuel Tech, Inc. sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.

Is this your company?

If you work at Fuel Tech, Inc., claim this profile or suggest a correction. We aggregate from public filings, so help us keep your description, website and links accurate.

Is this your company? Update your profile or add contact details — and choose exactly who can reach you. Reviewed before anything is published.