SEATTLE, Feb. 11, 2016 /PRNewswire/ -- ClearSign Combustion Corporation (NASDAQ: CLIR) announced today it has received an order for its for Duplex™ Technology from Advanced Combustion & Process Controls, Inc., or ACPC, for installation in wellhead enclosed flares at the facilities of a large Southern California oil producer.
ClearSign worked closely with ACPC, acting on behalf of the oil producer, to obtain the order. ACPC will manage the project and provide on-site installation services through an existing Master Services Agreement with the oil producer. Under the agreement, ClearSign will provide design and engineering services and the Duplex technology for the purpose of evaluating Duplex as a solution to the oil producer's NOx emissions challenges.
ClearSign expects to deliver the first unit in 2016. Assuming that testing of the initial unit is successful, payment for the unit will be made and the oil producer plans to purchase four additional units at pre-determined prices.
"This order is noteworthy in that, assuming validation of the initial unit, it could expand into a multi-unit order valued at approximately $1 million and affords ClearSign an adjacent market segment to our existing business verticals," said Stephen Pirnat, ClearSign Chairman and CEO. "Effective solutions to lower the required emissions are expanding in no small part due to actions by state and federal regulators. As ClearSign's Duplex technology becomes better known in the marketplace, we believe that those businesses subject to emissions controls will conclude that Duplex is the preferred solution for lowering NOx, a precursor of ozone."
Challenged by existing and potentially tougher new regulations to reduce emissions from flaring, the oil producer approached ClearSign seeking a way to achieve lower NOx emissions for its fleet of enclosed flares; ClearSign determined that its Duplex technology could offer a solution.
Emissions from wellhead flares are very much in the news with the Obama administration proposing new, stringent air regulations citing concerns over climate change. Additionally, the EPA's new Ambient Air Quality Standards (AAQS) have mandated a nationwide reduction of ozone emissions from 75 to 70 parts per billion effective January 1 of this year.
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.
Cautionary note on forward-looking statements
This press release includes forward-looking information and statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Except for historical information contained in this release, statements in this release may constitute forward-looking statements regarding our assumptions, projections, expectations, targets, intentions or beliefs about future events that are based on management's belief, as well as assumptions made by, and information currently available to, management. Forward-looking statements may be identified by words such as "expect", "anticipate", "believe", "intend", "hope", "could", "plans" and other comparable or similar terminology as well as the negative of such terminology. While we believe that our expectations are based upon reasonable assumptions, there can be no assurances that our goals and strategy will be realized. Numerous factors may affect our actual results and may cause results to differ materially from those expressed in forward-looking statements made by us or on our behalf. Some of these factors include the acceptance of existing and future products, the impact of competitive products and pricing, general business and economic conditions, and other factors detailed in our Annual Report on Form 10-K and other periodic reports filed with the SEC. We specifically disclaim any obligation to update or revise any forward-looking statement whether as a result of new information, future developments or otherwise.
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SOURCE ClearSign Combustion Corporation