ClearSign Technologies Corporation Announces Changes to Board of Directors

Rhea-AI Summary

ClearSign Technologies Corporation (CLIR) announced significant changes to its Board of Directors. The Board expanded from five to seven directors with the appointment of Anthony DiGiandomenico and Lou Basenese, effective May 22, 2025. Additionally, David M. Maley will not seek re-election at the 2025 annual stockholders meeting.

DiGiandomenico, co-founder and Chief of Transactions at MDB Capital Holdings, brings extensive experience in early-stage disruptive technologies. Basenese, currently Executive VP of Market Strategy at Prairie Operating Co. and CEO of The Basenese Group, contributes over 25 years of experience in equity research, investment banking, and strategic planning.

Positive

• Addition of two experienced board members with strong capital markets expertise
• New directors have existing knowledge of ClearSign's technologies and operations
• Both appointees bring valuable industry connections and strategic experience

Negative

• Loss of board member David M. Maley with uncertain replacement plans
• Potential governance disruption due to board size uncertainty after Maley's departure

TULSA, Okla., May 27, 2025 /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, today announced that the Company's Board of Directors (the "Board") has voted to expand in size from five to seven directors and it appointed Anthony DiGiandomenico and Lou Basenese to fill such newly created vacancies and to serve as members of the Board, effective as of May 22, 2025. Further, on May 27, 2025, David M. Maley, a member of the Board, notified the Company that he will not stand for re-election upon the expiration of his term at the Company's 2025 annual meeting of stockholders. The Board has not yet determined whether it will reduce its size or nominate a replacement director at this time.

"I am very pleased to welcome both Anthony and Lou to the Board," said Jim Deller, Ph.D., Chief Executive Officer of ClearSign. "Both have been long time supporters of ClearSign.  Their existing knowledge of the Company and its technologies combined with their capital markets experience and industry connections will make them valuable and productive additions to the Board. Additionally, David Maley has indicated that he will not be standing for re-election on the upcoming annual meeting of stockholders, and we thank him for his service to ClearSign."

Mr. DiGiandomenico has been working with and enabling investment into early-stage disruptive technologies for most of his career. He has worked alongside a wide range of companies in biotechnology, medical devices, high technology, and renewable energy spaces. Mr. DiGiandomenico currently serves as the Chief of Transactions and director of MDB Capital Holdings, LLC (NASDAQ: MDBH), a broker-dealer and financial advisory firm based in Dallas, Texas, which he co-founded in 1997 as MDB Capital Group, LLC.  Previously, he has served on the board of directors of Provention Bio, Inc., a developer of multiple drug therapies, from January 2017 until May 2020 and the board of directors of Cue Biopharma, Inc., a company that develops novel biologic drugs for the selective modulation of the human immune system to treat a broad range of cancers and autoimmune disorders, from January 2016 to October 2019. Mr. DiGiandomenico holds an MBA from the Haas School of Business at the University of California, Berkeley and a B.S. in Finance from the University of Colorado.

Lou Basenese brings over 25 years of experience in equity research and analysis, investment banking, strategic planning, thought leadership development and communications. Mr. Basenese currently serves as Executive Vice President – Market Strategy for Prairie Operating Co. (Nasdaq: PROP), a Houston-based publicly traded independent energy company engaged in the development and acquisition of oil and natural gas resources in the United States. He also serves as CEO and Chief Strategist of The Basenese Group, LLC, a full-service equity research, strategy, and advisory firm. Mr. Basenese also serves on the board of directors of ENDRA Life Sciences, Inc., a life sciences company that develops technologies to improve the capabilities of clinical diagnostic ultrasound, and the board of directors of The Roberto Clemente Health Clinic, a U.S.-based non-profit that provides affordable access to high quality health care and wellness programs in the Tola coastal communities of Nicaragua. Prior to his current roles, Mr. Basenese served as President and Chief Market Strategist of MDB Capital Holdings, LLC and in various analyst, strategist, and account executive roles in the financial services and research industries. Mr. Basenese holds an MBA from the Crummer Graduate School of Business at Rollins College and a B.A. in English from the University of Florida.

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.

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SOURCE ClearSign Technologies Corporation

FAQ

Who are the new board members appointed to ClearSign Technologies (CLIR)?

Anthony DiGiandomenico and Lou Basenese were appointed as new board members of ClearSign Technologies, effective May 22, 2025. DiGiandomenico is Chief of Transactions at MDB Capital Holdings, while Basenese is Executive VP at Prairie Operating Co. and CEO of The Basenese Group.

What is the new size of ClearSign Technologies' (CLIR) board of directors?

The board size was expanded from five to seven directors with the appointment of two new members on May 22, 2025.

Why is David M. Maley leaving ClearSign Technologies' (CLIR) board?

David M. Maley notified the company that he will not stand for re-election upon the expiration of his term at the 2025 annual meeting of stockholders. No specific reason was provided in the announcement.

What experience do the new CLIR board members bring to the company?

DiGiandomenico brings expertise in early-stage disruptive technologies and investment, while Basenese contributes over 25 years of experience in equity research, investment banking, and strategic planning. Both have been long-time supporters of ClearSign with existing knowledge of the company's technologies.