A fluidized bed heat exchanger comprising a housing, a reaction chamber within the housing, means for introducing air into said reaction chamber including a windbox region below said reaction chamber and an air distributor therebetween, an integral water-cooled floor and bridgewall assembly in said housing, a convection heat exchange chamber above said reaction chamber within said housing and separated from said reaction chamber by a slanted baffle, said baffle defining a gas passageway between said reaction chamber and said convection heat exchange chamber and having a hopper portion whereby dust is collected and removed from gases passing through said convection heat exchange chamber, means for establishing a bed of particulate material containing fuel in said reaction chamber, said bed of particulate material being subject to fluidization by air passing into said reaction chamber from said windbox region through said air distributor, a steam drum in said convection heat exchange chamber, an array of tubes each connected at one end to said steam drum and passing through said reaction chamber and into and through said air distributor to connect with a header, said array of tubes having a vertical orientation in that portion of the reaction chamber occupied by said fluidized bed of particulate material, the walls of said housing in the region of said reaction chamber being water-cooled, said integral water-cooled floor and bridgewall assembly formed to provide said air distributor, one of said housing walls, and said baffle, valve controlled conduit means within said housing and extending from said hopper portion of said baffle to a discharge port opening into said reaction chamber below the upper surface of said fluidized bed.