ClearSign Technologies Announces Burner Order for Power Generation Customer in Oklahoma

Rhea-AI Summary

ClearSign Technologies (Nasdaq: CLIR) has received a burner order from Exotherm for installation in a heater in Oklahoma, marking its entry into the power generation market. This order represents ClearSign's first commercial installation in Oklahoma, expanding its geographic footprint. The burner will be installed in a bath heater to heat natural gas for dewpoint control and is expected to be shipped by the end of Q4 2024.

Jim Deller, CEO of ClearSign, expressed excitement about the new working relationship with Exotherm and highlighted the continued interest in their horizontally fired process burner product line. This order aligns with ClearSign's sales strategy of promoting burners and solutions to heater OEMs, adding Exotherm as a new and valued addition to their network.

Positive

• Received a new burner order for power generation customer in Oklahoma
• Entered into a new working relationship with Exotherm
• First entry into the power generation market
• Expanded geographic footprint with first commercial installation in Oklahoma
• Continued success of sales strategy promoting burners to heater OEMs

Negative

• None.

TULSA, Okla., Sept. 10, 2024 /PRNewswire/ -- ClearSign Technologies Corporation (Nasdaq: CLIR) ("ClearSign" or the "Company"), an emerging leader in industrial combustion and sensing technologies that improve energy, operational efficiency and safety while dramatically reducing emissions, announces that it has received a burner order from Exotherm Corporation of Houston, Texas ("Exotherm") for installation in a heater in Oklahoma for use by a power generation company. 

"We are grateful for this order, and are excited to enter into a new working relationship with Houston-based heater manufacturer Exotherm," said Jim Deller, Ph.D., Chief Executive Officer of ClearSign.  "This order is our first entry into the power generation market, and also expands our geographic footprint with our first commercial installation in the state of Oklahoma. We are very encouraged by the continued interest in this new horizontally fired process burner product line and the continuing success of our sales strategy of promoting our burners and solutions to heater OEM's. This relationship with Exotherm is a new and valued addition to that network and we look forward to continuing our business relationship with them."

This order is for a burner to be installed into a bath heater to heat natural gas for dewpoint control. The burner will be installed in a process heater in Oklahoma for a customer in the power generation industry and is expected to be shipped by the end of the fourth quarter of 2024. 

About ClearSign Technologies Corporation

ClearSign Technologies Corporation designs and develops products and technologies for the purpose of improving key performance characteristics of industrial and commercial systems, including operational performance, energy efficiency, emission reduction, safety and overall cost-effectiveness. Our patented technologies, embedded in established OEM products as ClearSign Core™ and ClearSign Eye™ and other sensing configurations, enhance the performance of combustion systems and fuel safety systems in a broad range of markets, including the energy (upstream oil production and down-stream refining), commercial/industrial boiler, chemical, petrochemical, transport and power industries. For more information, please visit www.clearsign.com.

About Exotherm Corporation

Exotherm is a leader in designing and manufacturing custom-built fired heaters, which include the Uniflux brand convection heaters. The staff at Exotherm includes process engineers, experienced design and controls engineers, and field service technicians available to troubleshoot and service all Uniflux/Exotherm process heaters. Exotherm has the ability to design a safe, dependable heater for nearly any application. Exotherm provides heaters for applications including thermal fluids, vegetable oils, crude oil, and regeneration gas. Exotherm is located in Houston, TX. For more information you can visit: www.exotherm.com

Cautionary note on forward-looking statements

All statements in this press release that are not based on historical fact are "forward-looking statements." You can find many (but not all) of these statements by looking for words such as "approximates," "believes," "hopes," "expects," "anticipates," "estimates," "projects," "intends," "plans," "would," "should," "could," "may," "will" or other similar expressions. While management has based any forward-looking statements included in this press release on its current expectations on the Company's strategy, plans, intentions, performance, or future occurrences or results, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties and other factors, many of which are outside of the Company's control, which could cause actual results to materially differ from such statements. Such risks, uncertainties and other factors include, but are not limited to: the Company's ability to successfully deliver, install, and meet the performance obligations of the Company's burners, including  process burners, in the markets the Company sell products in; the Company's ability to continue its business relationship with Exotherm; the Company's ability to timely ship its burners; the Company's ability to further expand into other geographic markets; the Company's ability to successfully enter the power distribution market; the Company's ability to further expand the sale of ultra-low NOx process and boiler burners; the Company's ability to successfully perform engineering orders and performance optimization processes included therein; general business and economic conditions; the performance of management and the Company's employees; the Company's ability to obtain financing, when needed; the Company's ability to compete with competitors; whether the Company's technology will be accepted and adopted and other factors identified in the Company's Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission and available at www.sec.gov and other factors that are detailed in the Company's periodic and current reports available for review at www.sec.gov. Furthermore, the Company operates in a competitive environment where new and unanticipated risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. The Company disclaims any intention to, and, except as may be required by law, undertakes no obligation to, update or revise forward-looking statements to reflect events or circumstances that subsequently occur or of which the Company hereafter become aware.

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SOURCE ClearSign Technologies Corporation

FAQ

What is the recent burner order received by ClearSign Technologies (CLIR)?

ClearSign Technologies (CLIR) received a burner order from Exotherm for installation in a heater in Oklahoma, to be used by a power generation company.

When is the burner ordered by ClearSign Technologies (CLIR) expected to be shipped?

The burner ordered by ClearSign Technologies (CLIR) is expected to be shipped by the end of the fourth quarter of 2024.

What new market does this order represent for ClearSign Technologies (CLIR)?

This order represents ClearSign Technologies' (CLIR) first entry into the power generation market.

What is the purpose of the burner ordered from ClearSign Technologies (CLIR)?

The burner will be installed in a bath heater to heat natural gas for dewpoint control in a process heater for a power generation customer in Oklahoma.