ClearSign Technologies Announces Order of Largest Burner Sold to Date
Rhea-AI Summary
ClearSign Technologies announced the sale of its largest burner to date from its horizontally fired process burner product line. The burner, sold by Devco Process Heaters, is close to 90 million BTU/hr, nearly double the size of its previous largest burner. This development showcases ClearSign's capability across small, medium, and large size ranges. The burner will be installed in a new heater at a gas processing facility in central Texas, with delivery expected in the third quarter. This deal marks ClearSign's entry into the midstream market, potentially expanding its customer base and sales channels.
Positive
- Sale of the largest burner to date, close to 90 million BTU/hr.
- Introduction of ClearSign's solutions to the midstream market.
- Expansion of sales channels through collaboration with Devco Process Heaters.
Negative
- None.
News Market Reaction
On the day this news was published, CLIR gained 22.26%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
From the Horizontally Fired Process Burner Product Line
Sold By Heater Manufacturer Devco Process Heaters
"This sale is meaningful for multiple reasons," said Jim Deller, Ph.D., Chief Executive Officer of ClearSign. "First, this is the largest boiler burner we have sold to date, at close to 90 million BTU/hr, or almost two times the size of our previous largest single burner. With this we will have demonstrated products designed for our small, medium and large size ranges in the field. Secondly, this burner was sold in collaboration with another heater manufacturer, Devco Process Heaters, into the midstream market, which will introduce our solutions to new customers and expand our sales channels."
The burner was sold by Devco Process Heaters of
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 Devco Heaters
Devco Process Heaters ("DPH") is a 25-year-old company from
DPH's capabilities on process heaters range from 100,000 BTu/hr to 100MMBtu/hr utilizing direct fired and cabin style heater designs. More information can be found at www.devcoheaters.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 horizontally fired 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; 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
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