ClearSign Technologies Announces Order of Largest Burner Sold to Date

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Jun 26, 2024, 08:30 ET

From the Horizontally Fired Process Burner Product Line

Sold By Heater Manufacturer Devco Process Heaters

TULSA, Okla., June 26, 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 a burner sale from the horizontally fired process burner product line.

"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 Tulsa, OK and will be going into a new heater in a central Texas gas processing facility. The Company expects to deliver the burner in the third quarter.

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 Tulsa that has built heaters across the globe, installing over 200 heaters to date. DPH also provides standard package heating systems, hot oil pump skids, burner management system packages, and fuel train designs. Recently, DPH expanded to incorporate additional capabilities, including piping and skid design, small storage vessels, on-site commissioning and startup, and many other services.

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.

SOURCE ClearSign Technologies Corporation