ClearSign Technologies Announces Burner Order for Power Generation Customer in Missouri

Rhea-AI Summary

ClearSign Technologies (Nasdaq: CLIR) has received a new burner order from Exotherm for installation in a heater at a power generation facility in Turney, Missouri. This marks the second order from Exotherm and expands ClearSign's presence in the power generation market. The burner is expected to be shipped in early 2025.

CEO Jim Deller expressed gratitude for the repeat order, highlighting the success of engineering companies like Exotherm in leveraging ClearSign's burner technology. This order aligns with ClearSign's strategic sales and growth plan, demonstrating continued interest in their horizontally fired burner product line and expanding their geographic footprint.

ClearSign Technologies specializes in industrial combustion and sensing technologies that support decarbonization, improve efficiency, enable hydrogen fuel use, and enhance safety while reducing emissions.

Positive

• Received a new burner order for a power generation customer in Missouri
• Second order from Exotherm , indicating customer satisfaction
• Expansion into the power generation market and new geographic area (Missouri)
• Alignment with strategic sales and growth plan
• Continued interest in the horizontally fired burner product line

Negative

• None.

Insights

Market Research Analyst

This order for ClearSign Technologies represents a positive development, albeit with immediate financial impact. The company is expanding its customer base and geographical reach, which is important for a small-cap company ($42.75 million market cap) in the industrial technology sector. The repeat order from Exotherm suggests growing acceptance of ClearSign's technology in the market.

Key points to consider:

• Expansion into the power generation market, a potentially large and stable customer base
• Geographic expansion into Missouri, indicating broader market penetration
• Validation of the horizontally fired burner product line
• Strengthening of business relationships, particularly with Exotherm

However, investors should note that the financial impact of this single order is likely minimal in the short term. The long-term potential lies in the company's ability to scale these relationships and orders. The expected shipment in early 2025 means revenue recognition is still some time away, which is important for cash flow considerations.

TULSA, Okla., Oct. 9, 2024 /PRNewswire/ -- ClearSign Technologies Corporation (Nasdaq: CLIR) ("ClearSign" or the "Company"), an emerging leader in industrial combustion and sensing technologies that support decarbonization, improve operational and energy efficiency, enable the use of hydrogen as a fuel and enhance safety while dramatically reducing emissions, announces that it has received another burner order from Exotherm Corporation of Houston, Texas ("Exotherm") for installation in a heater in Missouri for use by a power generation company.

"We are grateful for this second order from Exotherm, especially as it is so soon after the previous order from them," said Jim Deller, Ph.D., Chief Executive Officer of ClearSign. "It is exciting that heater and engineering companies like Exotherm are achieving sales and success in their business by the inclusion of the performance that ClearSign's burner provides. Developing these relationships, and supplying burners to end-users, while also aiding the competitiveness of our immediate customers is a significant part of our strategic sales and growth plan. In addition, we believe that this order is evidence of the continued interest in this horizontally fired burner product line. This is now our second order into the power generation market, and it continues the expansion of our geographic footprint into another state with this installation going into the State of Missouri. We look forward to a continued relationship with Exotherm as we help provide their customers with efficient emissions and decarbonization solutions."

This order is for a burner to be installed into a burner at a power generation facility. The burner will be installed in a process heater in Turney, MO for a customer in the power generation industry and is expected to be shipped in early 2025. 

About ClearSign Technologies Corporation

ClearSign Technologies Corporation designs and develops products and technologies for the purpose of decarbonization and improving key performance characteristics of industrial and commercial systems, including operational performance, energy efficiency, emission reduction, safety, the use of hydrogen as a fuel 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 performance of the Company's burners, including related fuel and electricity savings and its ability to lower NOx emissions; 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 expand its footprint in the power generation and 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 latest order received by ClearSign Technologies (CLIR)?

ClearSign Technologies (CLIR) has received a burner order from Exotherm for installation in a heater at a power generation facility in Turney, Missouri.

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

The burner ordered from ClearSign Technologies (CLIR) is expected to be shipped in early 2025.

How does this order align with ClearSign Technologies' (CLIR) growth strategy?

This order aligns with ClearSign's strategic sales and growth plan by developing relationships with engineering companies, supplying burners to end-users, and expanding their geographic footprint into new markets.

What market segment is ClearSign Technologies (CLIR) expanding into with this order?

With this order, ClearSign Technologies (CLIR) is expanding its presence in the power generation market, marking their second order in this sector.