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ClearSign Technologies Corporation (Nasdaq: CLIR) is a pioneering company focused on developing and deploying industrial combustion and sensing technologies. Headquartered in Tulsa, Oklahoma, ClearSign aims to address significant challenges within the energy, oil and gas production, boiler, and processing industries. The company's innovative technologies are designed to enhance operational performance, energy efficiency, emission reduction, safety, and overall cost-effectiveness.
ClearSign's core offerings include the ClearSign Core™ and ClearSign Eye™ technologies. These patented solutions are embedded within established OEM products to improve the performance of combustion systems and fuel safety systems across a broad range of markets such as upstream oil production, downstream refining, commercial and industrial boilers, chemical and petrochemical processes, and power industries.
The company has recently achieved significant milestones, including the successful start-up of multi-burner heater installations at Kern Energy, which has helped validate ClearSign's technology in compliance with California's stringent emissions standards. Additionally, ClearSign has been actively engaged in multiple projects with California Boiler, receiving letters of intent for several boiler burners, highlighting the growing adoption of their technologies.
ClearSign's financial performance has seen a positive trajectory, with the company reporting record revenues for both the fourth quarter and full year ending in December 2023. They have also secured substantial funding through public and private offerings, raising approximately $9.3 million to support their ongoing projects and future initiatives.
Looking ahead, ClearSign continues to focus on expanding its market presence, particularly in regions with stringent emissions regulations. The company is also working on the development of a 100% hydrogen burner, supported by Phase 2 grant funding, which is expected to further enhance their portfolio of environmentally friendly combustion solutions.
For more information about ClearSign Technologies Corporation and its groundbreaking technologies, please visit www.clearsign.com.
ClearSign Technologies (Nasdaq: CLIR) has secured a purchase order for a flare retrofit from a returning energy company customer in California, following the completion of an engineering order. The flare will be installed at a production facility in the San Joaquin Valley. The equipment is scheduled for fabrication and shipment in Q2 2025.
The company's CEO, Jim Deller, highlighted this order as an indicator of growing opportunities for ClearSign's emissions reduction technologies. Their flaring products and enclosed combustors provide solutions for clean disposal of unusable hydrocarbons, with increasing interest observed in upstream production applications and biofuel sectors.
ClearSign Technologies (Nasdaq: CLIR) has announced the upcoming installation of four ClearSign Eye sensors at a supermajor refinery on the U.S. Gulf Coast. This marks the first commercial trial installation of these sensors in an operating facility.
The ClearSign Eye sensors are designed to detect functioning burner pilots without being inserted directly into the flame, unlike conventional equipment. According to CEO Jim Deller, this provides a more durable and reliable flame detecting solution that can deliver significant value to customers.
Following an extensive technical review by the refinery operator, the sensors are scheduled to be installed on each burner of a multi-burner process heater during the second quarter of 2025. ClearSign Technologies positions itself as an emerging leader in industrial combustion and sensing technologies supporting decarbonization, operational efficiency, and emissions reduction.
ClearSign Technologies (Nasdaq: CLIR) has been awarded a $400,000 grant from the U.S. Department of Energy's EERE Industrial Efficiency and Decarbonization Office. The grant, in collaboration with a major national laboratory, will support the development of ClearSign's ultra-low NOx industrial hydrogen burner technology.
The project, led by Senior Research Scientist Dr. Robert Geiger, focuses on developing innovative computer modeling techniques to optimize industrial furnaces and combustion equipment for 100% hydrogen fuel usage. The initiative will utilize high-performance computing (HPC) to simulate and optimize hydrogen burner designs, aiming to accelerate development timelines while minimizing costs.
The technology is expected to support industrial decarbonization efforts with potential greenhouse gas emissions reduction of up to 276 million metric tons annually. The project will address key challenges including flame positioning, fuel-air mixing, and heat flux optimization to facilitate large-scale hydrogen adoption in industrial furnaces.
ClearSign Technologies (Nasdaq: CLIR) and Zeeco announce the launch of a co-branded process burner product line featuring ClearSign Core technology. The new burners can operate on both 100% natural gas and 100% hydrogen while maintaining sub 5 ppm NOx emissions to meet strict regulations.
The collaboration, which began in 2020, has involved Zeeco providing its Global Technology Center for research, development, testing, and manufacturing. Both companies' sales teams will now market the ZEECO®-ClearSign process burner product lines, combining ClearSign's emission control capabilities with Zeeco's global market presence, sales resources, and manufacturing capabilities.
ClearSign Technologies (Nasdaq: CLIR) has successfully regained compliance with Nasdaq's minimum bid price requirement. The company, which specializes in industrial combustion and sensing technologies for decarbonization, received confirmation from Nasdaq's Listing Qualifications Department on December 6, 2024. This follows a notice of non-compliance issued on May 2, 2024, when CLIR failed to maintain the required $1.00 minimum bid price over 30 consecutive business days. The company achieved compliance by maintaining a closing bid price above $1.00 for 10 consecutive business days, concluding on December 5, 2024. As a result, CLIR's common stock will continue to be listed on Nasdaq.
ClearSign Technologies (Nasdaq: CLIR) has received a purchase order from Rogue Combustion, a subsidiary of California Boiler, for a boiler burner to be used in their rental fleet. The ultra-low NOx boiler burner is expected to be fabricated and shipped in the second quarter of 2025 for installation in a new rental boiler.
The company highlights that rental boilers provide immediate solutions for customers in urgent situations or during planning of permanent installations. They also serve as demonstration units, allowing customers to gain experience with ClearSign's equipment, potentially leading to sales, as demonstrated by a recent order announced on November 12 following a rental deployment.
ClearSign Technologies (Nasdaq: CLIR) has received a follow-on purchase order for 26 ClearSign Core™ burners from Birwelco USA Inc. This order, the largest in ClearSign's history, is for retrofitting four process heaters at a Fortune 500 global chemical company's Gulf Coast facility in Texas. The project, which began with an engineering order in July, will implement flex fuel hydrogen capable burner technology. Final delivery of the burners is expected in early second half of 2025.
ClearSign Technologies (Nasdaq: CLIR) reported record quarterly revenue of $1.85 million in Q3 2024, compared to $85,000 in Q3 2023. The significant increase was primarily driven by shipping 20 process burners to a California refinery customer. The company secured multiple new orders, including a flare retrofit project in California, burner orders for power generation customers in Oklahoma and Missouri, and a 26-burner retrofit project for a Texas petrochemical facility. Cash and cash equivalents stood at $14.5 million as of September 30, 2024, with 50,234,407 shares outstanding.
ClearSign Technologies (Nasdaq: CLIR) has received a purchase order for a boiler burner from an asphalt company in California. The order came through their partner Rogue Combustion after the customer experienced the technology through a rental boiler program. The burner, which incorporates ClearSign Core technology, will be fabricated and shipped in Q2 2025 for installation in California's San Joaquin Valley. The sale demonstrates the effectiveness of the rental program operated by California Boiler in allowing customers to test the technology before making a long-term commitment.
ClearSign Technologies (Nasdaq: CLIR) announces its Third Quarter 2024 earnings conference call scheduled for Wednesday, November 20, 2024, at 5:00 PM ET. The company will file its Q3 10-Q report with the SEC and release financial results for the quarter ending September 30, 2024, on the day of the call. Investors can participate via phone (1-800-836-8184 US, 1-646-357-8785 international) or through a webcast. A Q&A session will be included, with investors able to submit questions in advance via email. The webcast will be archived for 90 days, and a playback will be available for 7 days.
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