ClearSign Technologies Announces Order for Multi Heater Project for Texas Petrochemical Facility

Rhea-AI Summary

ClearSign Technologies (Nasdaq: CLIR) has received an initial engineering order from Birwelco USA Inc. for a project to retrofit four process heaters with a total of 26 ClearSign Core™ burners at a Gulf Coast facility of a Fortune 500 global chemical company. This marks ClearSign's largest process burner order to date, including computational flow simulations and physical testing for performance optimization.

The project, set to be rolled out in phases, is expected to have final burner delivery around the second half of 2025. This order follows an in-depth evaluation by Birwelco USA, highlighting the growing traction of ClearSign's technologies in the industry. The collaboration between ClearSign, Birwelco USA, and the end-user is seen as a strategic partnership to ensure project success.

Positive

• Largest process burner order to date for ClearSign Technologies
• Project includes 26 ClearSign Core™ burners for four process heaters
• Order from a Fortune 500 global chemical company, indicating market validation
• Collaboration with established industry player Birwelco USA Inc.
• Project includes advanced engineering services like computational flow simulations

Negative

• Final delivery of burners not expected until second half of 2025, indicating a long project timeline

Financial Analyst

ClearSign Technologies' recent announcement highlights a notable order for 26 ClearSign Core™ Process Burners from Birwelco USA Inc. for a Fortune 500 global chemical company. This development is significant for several reasons. Firstly, it represents ClearSign's largest process burner order to date, signaling a potential increase in demand for their technology. This can be interpreted as a positive indicator for the company's growth trajectory and market acceptance.

From a financial perspective, the phased rollout of the project, with final delivery expected in the second half of 2025, suggests a steady revenue stream over the next two years. Investors should monitor ClearSign's quarterly and annual earnings reports to assess how this order impacts the company's top and bottom lines. Additionally, it will be important to track any further orders or partnerships that could follow from this initial success, as they could provide a more substantial and sustained boost to ClearSign's financial health.

ClearSign's ability to secure a contract with a prominent chemical company also underscores the potential long-term benefits of their technology in reducing emissions and improving energy efficiency. This aligns with global trends towards more sustainable industrial practices, which could position ClearSign favorably in the market.

Market Research Analyst

The receipt of this substantial order indicates ClearSign's growing traction within the industrial combustion and sensing technology market. It's essential to recognize the competitive landscape of ClearSign's industry. The environmental benefits of their process burners, such as reduced emissions, provide a competitive edge, especially as regulatory pressures mount globally for cleaner industrial operations.

ClearSign's collaboration with Birwelco USA and the global chemical company highlights the importance of strategic partnerships in gaining market recognition and expanding market share. These partnerships can often lead to additional projects and referrals, enhancing the company's reputation and market positioning.

Retail investors should also consider the broader market trends towards sustainability and energy efficiency. Companies like ClearSign that offer innovative solutions in these areas are likely to see increased demand as industries strive to meet stricter environmental standards and sustainability goals.

Project Comprised of 26 ClearSign Core™ Process Burners in Four Heaters

Order Received from Birwelco USA Inc. for Fortune 500 Global Chemical Company

TULSA, Okla., July 17, 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 the initial engineering order from engineering and heater manufacturer Birwelco USA Inc. (a BIH Group company) as the first phase of a project to retrofit four process heaters with a total of 26 ClearSign Core™ burners to be installed in the Gulf Coast facility of a Fortune 500 global chemical company.    

"I want to thank and recognize Birwelco USA and our chemical company client for their long support and engagement with ClearSign technologies and their recognition of the capabilities and value that we provide. This is our largest process burner order to date and will also include computational flow simulations and physical testing as part of the detailed performance optimization process which is included in this initial engineering phase of the project," said Jim Deller, Ph.D., Chief Executive Officer of ClearSign.  "We are encouraged to be working with firms and customers of this scale and prominence in the market.  We believe that this order is another indicator that our technologies are gaining traction within the industry.  This order follows an in-depth evaluation by Birwelco USA which ultimately resulted in the selected solution and order being placed with ClearSign." 

"Based on the unique environmental needs of these heaters, a number of different solutions were carefully evaluated, ultimately it was agreed that ClearSign technology would be the best path forward," said Walter Gull, President and General Manager of Birwelco USA. "Capitalizing on Birwelco USA's long term relationship with both ClearSign and the end user, I believe we have the right team in place to ensure this project is a success."

The burner order was received from Birwelco USA Inc. for installation in a Gulf Coast facility in Texas of global multifaceted chemicals company.  The Company expects the project to be rolled out in phases, resulting in the final delivery of the burners to be around the second half of 2025.

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 Birwelco USA Inc.

Globally part of the BIH Group of companies, Birwelco USA Inc. is a leading supplier and solution provider for fired heaters and furnaces from design concept to turnkey implementation. Solutions include studies, on-line services, revamps and complete rebuilds - all focused on minimizing downtime and maximizing the end user return on investment. Understanding each customer's unique needs, and delivering the optimized solutions to meet them, is at the core of every Birwelco USA project. For more information visit www.bihl.com/busa/.

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 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 SEC 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 size of ClearSign Technologies' (CLIR) recent order for process burners?

ClearSign Technologies (CLIR) received an order for 26 ClearSign Core™ process burners to be installed in four process heaters, marking their largest process burner order to date.

Who placed the order for ClearSign Technologies' (CLIR) burners?

The order was placed by Birwelco USA Inc., an engineering and heater manufacturer, for installation at a Fortune 500 global chemical company's Gulf Coast facility in Texas.

When is the expected delivery date for ClearSign Technologies' (CLIR) burner project?

The project is expected to be rolled out in phases, with final delivery of the burners anticipated around the second half of 2025.

What additional services does ClearSign Technologies (CLIR) provide with this burner order?

The order includes computational flow simulations and physical testing as part of the detailed performance optimization process in the initial engineering phase of the project.