SEATTLE, Nov. 23, 2021 /PRNewswire/ — ClearSign Applied sciences Company (Nasdaq: CLIR) (“ClearSign” or the “Firm”), an rising chief in industrial combustion and sensing applied sciences that enhance power, operational effectivity and security whereas dramatically lowering emissions, as we speak supplies an replace on operations for the third quarter ended September 30, 2021.
“We made progress within the commercialization of our merchandise, together with the latest receipt of a course of burner order for a multi heater venture,” mentioned Jim Deller, Ph.D., Chief Government Officer of ClearSign. “We fabricated and demonstrated our merchandise in full scale installations and have obtained curiosity from our clients. Consequently, we’re seeing higher buyer inquiries and proposal alternatives, and have developed a sturdy proposal pipeline in each our course of burner and boiler burner applied sciences,” concluded Dr. Deller.
Current strategic and operational highlights throughout and subsequent to the third quarter of 2021 embody:
Introduced Multi Heater Mission for Main Nationwide Refiner: The Firm obtained a purchase order order from a Fortune 500 nationwide refiner in reference to the primary part of the venture to retrofit two course of heaters with eight ClearSign Core™ burners every to be put in of their Midwest refinery.
Fabricated redesigned 2500hp water tube boiler burner in Tulsa and twin in China: The ClearSign Core™ water tube boiler burner has been redesigned and is now configured as a continuation of our fireplace tube boiler burner expertise, and has been examined and confirmed to function with outcomes in step with the fireplace tube measurement burners. One is able to set up in China and the Firm is in strategy of negotiating preparations for the demonstration and certification of that burner there.
500hp boiler burner demonstration and product launch at California Boiler: Following a profitable demonstration, the ClearSign Core fireplace tube burner expertise is working and delivering sub 2.5ppm NOx, and is being supplied on the market in retrofit or new boiler purposes via ClearSign and accomplice California Boiler.
Introduced the hiring of Brent Hinds as VP and Controller: Mr. Hinds was appointed by the board of ClearSign because the Firm’s VP and controller in October. Mr. Hinds joined ClearSign from Enovation Controls, Inc. a stand alone subsidiary of Helios Applied sciences, the place he served as VP of Finance targeted on world gross sales, manufacturing, and software engineering operations, working instantly with authentic gear producers. His duties there included consolidation of reporting throughout 4 authorized entities totaling $120 million in revenues, $600 million in belongings and $70 million in net-working capital.
Money and money equivalents had been $8,841,000 on September 30, 2021.
There have been 31,574,704 shares of our widespread inventory issued and excellent as of September 30, 2021.
The Firm will likely be internet hosting a name at 5:00 PM ET as we speak. Traders serious about taking part on the reside name can dial 1-866-372-4653 inside the U.S. or 1-412-902-4217 from overseas. Traders may also entry the decision on-line via a listen-only webcast at https://www.webcaster4.com/Webcast/Web page/987/43656 or on the investor relations part of the Firm’s web site at http://ir.clearsign.com/overview.
The webcast will likely be archived on the Firm’s investor relations web site for at the least 90 days and a telephonic playback of the convention name will likely be accessible by calling 1-877-344-7529 inside the U.S. or 1-412-317-0088 from overseas. Convention ID 10162021. The telephonic playback will likely be accessible for 7 days after the convention name.
About ClearSign Applied sciences Company
ClearSign Applied sciences Company designs and develops merchandise and applied sciences for the aim of bettering key efficiency traits of business and business techniques, together with operational efficiency, power effectivity, emission discount, security and total cost-effectiveness. Our patented applied sciences, embedded in established OEM merchandise as ClearSign Core™ and ClearSign Eye™ and different sensing configurations, improve the efficiency of combustion techniques and gasoline security techniques in a broad vary of markets, together with the power (upstream oil manufacturing and down-stream refining), business/industrial boiler, chemical, petrochemical, transport and energy industries. For extra data, please go to www.clearsign.com.
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SOURCE ClearSign Applied sciences Company