Apr 4, 2016
Initial entry into Western Canadian oil sands market
SEATTLE, April 4, 2016 /PRNewswire/ -- ClearSign Combustion Corporation (NASDAQ: CLIR) announced today an agreement with a major Canadian oil sands producer to design and engineer ClearSign's Duplex™ technology for its oil field once-through steam generators (OTSG).
This multi-phase agreement begins with a design and engineering phase. ClearSign will deliver a fully engineered Duplex system design, as well as cost and budget, for testing and deployment the producer's existing and planned fleet of OTSGs. The project is expected to be complete within the next six months. Upon conclusion, the Canadian company will have the option to first field test; and upon validation of the design, to deploy Duplex to all or a portion of their fleet of approximately 40 units in Northern Alberta.
This contract marks ClearSign's first project in the Western Canadian oil sands market. Typical of the Canadian market, the producer's OTSGs are large, 250MMBtu/hr, steam units and key to extracting heavy, viscous (bitumen) oil deposits from its reserves. Canadian OTSGs are typically four times larger than those found in the U.S.
"This agreement is similar to previously announced projects where the operator is seeking to validate ClearSign's technology," said Stephen Pirnat, ClearSign Chairman and CEO. "We look forward to completing a successful design and showcasing Duplex's unique capabilities for the first time in the Western Canadian oil sands, which is an addressable market of several hundred OTSGs."
About ClearSign Combustion Corporation
ClearSign Combustion Corporation designs and is developing products and technologies that strive to improve key performance characteristics of combustion systems, including emissions and operational performance, energy efficiency and overall cost-effectiveness. Our patent-pending Duplex™ and Electrodynamic Combustion Control™ platform technologies enhance the performance of combustion systems in a broad range of markets, including the chemical, petrochemical, refinery, power and commercial boiler industries. For more information, please visit www.clearsign.com.
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SOURCE ClearSign Combustion Corporation
For further information: Investor Relations: Matthew Selinger, Three Part Advisors, LLC for ClearSign, +1 817-310-8776; or Media: Alana Herro, Antenna Group for ClearSign, +1 415-977-1918, email@example.com
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