ClearSign designs, develops and markets technologies that aim to improve the key performance characteristics of combustion systems, including emission, operational performance, energy efficiency and overall cost effectiveness.
SEATTLE, Jan. 22, 2018 /PRNewswire/ -- ClearSign Combustion Corporation (NASDAQ: CLIR), an emerging leader in industrial combustion technologies that reduce emissions and improve efficiency, today announced the completion, customer acceptance and issuance of payment for the final phase of a multiphase project. This project successfully retrofitted Duplex™ technology into enclosed ground flares for a major California oil producer.
"With the close of this initial project we have penetrated a new market vertical and demonstrated a broader application for our Duplex Technology. Our initial analysis shows that there are over 2000 enclosed ground flares in the U.S. alone that would greatly benefit in reduced emissions through the use of ClearSign's Duplex technology," said Steve Pirnat, ClearSign's Chairman and CEO. "At the onset of the project we were presented with a challenging emissions situation and were able to provide a solution for the producer with an application of our Duplex technology. We are extremely pleased that we are able to satisfy the customer's demanding performance requirements, and look forward to working with them on future projects."
This contract was previously announced, and was ordered through Advanced Combustion and Process Controls, the oil producer's prime contractor and ClearSign's representative in Southern California. ClearSign's Duplex technology achieved environmental emissions that satisfied the most stringent air regulations within California.
The results of the testing were independently confirmed by the customer and Advanced Combustion and Process Controls. This project consisted of retrofitting multiple units, including larger capacity units, and brought them in line with requested performance characteristics. This multi-phase project is the first application of ClearSign technology for the ground flare market. The companies and contractor are in discussions for future flare projects.
Additionally, Mr. Joseph Colannino, ClearSign's Senior Vice President of Engineering, has tendered his resignation and expressed to us his desire to pursue other interests effective the middle of February. Mr. Colannino's duties will be absorbed by other staff without causing any gaps in coverage.
"I want to thank Joe for his contribution to ClearSign over the years. I have known Joe personally and professionally for many years and wish him all the best in his future endeavors. Joe has been a valuable asset to the company throughout his tenure, and we can credit him with helping advance us from an R & D company into full commercial applications in the market. I thank him for all he has done," said Steve Pirnat.
For more information about ClearSign visit: www.clearsign.com.
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™, Duplex Plug & Play™ 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 identified in our Annual Report on Form 10-K filed with the Securities & Exchange Commission and available at www.sec.gov 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