May 18, 2017
SEATTLE, May 18, 2017 /PRNewswire/ -- ClearSign Combustion Corporation (NASDAQ: CLIR), a leading provider of industrial combustion technologies that help to reduce emissions and improve efficiency, announced that they have a Memorandum of Understanding (MOU) with one of China's largest providers of residential and commercial heating services to run a pilot test with the goal of demonstrating ClearSign's Duplex technology as a candidate to achieve ultra-low emissions levels in their boilers.
Under the terms of the agreement, the state owned enterprise (SOE) agreed to work with ClearSign to install, and demonstrate ClearSign's innovative Duplex™ technology in one of their boilers. The parties recently singled out specific classes of boilers for testing and demonstration of ClearSign's Duplex technology. The project will be a joint collaboration with ClearSign handling the design, fabrication and overseeing the installation by the local partner. Upon successful completion of the pilot with results within agreed upon specifications, the parties have agreed to negotiate a subsequent definitive agreement to retro-fit multiple boilers within the district's operational footprint.
"We are pleased and excited to announce our first Duplex project in China, a market with an obvious need for our products. We believe this Group is a natural partner to validate and then broadly utilize our technology. We are looking forward to demonstrating our technology and creating a long and mutually beneficial business relationship with them," said Stephen Pirnat, Chairman and Chief Executive Officer of ClearSign. "Our new partner has hundreds of boilers which would benefit from the use of ClearSign's technology to reduce emissions and enhance their operating efficiency," said Mr. Pirnat.
About ClearSign Combustion Corporation
ClearSign Combustion Corporation designs and develops products and technologies for the purpose of improving key performance characteristics of combustion systems, including emissions and operational performance, energy efficiency and overall cost-effectiveness. Our patented Duplex™ and Electrodynamic Combustion Control™ platform technologies enhance the performance of combustion systems in a broad range of markets, including the energy (upstream oil production and down-stream refining), commercial/industrial boiler, chemical, petrochemical, and power industries. For more information, please visit www.clearsign.com.
Cautionary note on forward-looking statements
All statements in this press release that are not based on historical fact are "forward-looking statements." While management has based any forward-looking statements included in this press release on its current expectations, 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 our control, which could cause actual results to materially differ from such statements. Such risks, uncertainties and other factors include, but are not limited to, general business and economic conditions, the performance of management and our employees, our ability to obtain financing, competition, whether our technology will be accepted and other factors that are to be detailed in our periodic and current reports available for review at www.sec.gov. Furthermore, we operate 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. We disclaim any intention to, and undertake no obligation to, update or revise forward-looking statements to reflect events or circumstances that subsequently occur or of which we hereafter become aware.
SOURCE ClearSign Combustion Corporation
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