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Clearsign Technologies Corp (CLIR) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

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Clearsign Combustion Corp

CIK: 1434524 Ticker: CLIR

Exhibit 99.1

 

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ClearSign Technologies Corporation Provides Full Year 2021 Update

 

Tulsa, OK, April 6, 2022 -- 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, today provides an update on operations for the fourth quarter and full year ended December 31, 2021.

 

“This past year we have developed and launched our primary technologies, added to and strengthened our strategic partnerships, and won some major customer orders; providing a great foundation for our future business growth,” said Jim Deller, Ph.D., Chief Executive Officer of ClearSign. “We are growing our installed base of process burners and are winning larger commercial projects. We developed and launched a boiler burner line with performance meeting the most stringent emission regulations in the California market, and we look forward to growing our business there. Additionally, we have developed strategic partners in China with whom we can get our product lines certified and launched, and with the potential to scale in the future,” continued Dr. Deller. “Overall, we have built the framework of a growing commercial business and we look forward to gaining momentum as our technology becomes more established and mainstream.”

 

Recent strategic and operational highlights during and subsequent to the full year of 2021 include:

 

Announced two Multi Heater Projects for Major National Refiners: The Company received an order which consists of engineering, drafting and CFD (Computational Fluid Dynamics) modelling of ClearSign Core burners operating in the destination heaters. The following phases of this project are expected to include a physical "first article" full size burner demonstration, then the supply of twenty burners to be installed in the California refinery heaters. Additionally, the Company received a purchase order from a Fortune 500 national refiner in connection with the first phase of the project to retrofit two process heaters with eight ClearSign Core™ burners each to be installed in their Midwest refinery. 

 

Successfully Installed a Process Burner Order for a Super Major's European Refinery: The project consisted of engineering, fabrication, conducting a witness test and finally installing a replacement burner for a single burner process heater incorporating the ClearSign Core™ NOx reduction technology. In addition to meeting the requirements for this specific service, this order also serves as an initial demonstration of ClearSign Core's superior NOx emissions technology for deployment into refiners' fleet of global facilities to meet their emissions reduction goals.

 

Developed a Boiler Burner line and conducted product launch at California Boiler: Following a successful demonstration of both a 500hp and 125hp boiler burners, the ClearSign Core fire tube burner technology is operating and delivering sub 2.5ppm NOx, and is being offered for sale in retrofit or new boiler applications through ClearSign and partner California Boiler.

 

Fabricated redesigned 2500hp water tube boiler burner in Tulsa and twin in China: The ClearSign Core™ water tube boiler burner has been redesigned and is now configured as a continuation of the Company’s fire tube boiler burner technology, and has been tested and proven to operate with results consistent with the anticipated future emissions requirements in China. The Company is in process of working on the demonstration and certification of the 2500hp water tube boiler burner in China.

 


The following information was filed by Clearsign Combustion Corp (CLIR) on Friday, April 8, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Clearsign Combustion Corp's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Operations
Condensed Consolidated Statements Of Stockholders' Equity
Condensed Consolidated Statements Of Stockholders' Equity (Parenthetical)
Commitments And Contingencies
Equity
Equity (Tables)
Equity - Common Stock And Preferred Stock (Details)
Equity - Consultant Stock Plan (Details)
Equity - Equity Incentive Plan (Details)
Equity - Inducement Stock Options (Details)
Equity - Restricted Stock Units (Details)
Equity - Stock Grants (Details)
Equity - Stock Options - Activity (Details)
Equity - Stock Options - Valuation Assumptions (Details)
Fixed Assets
Fixed Assets (Tables)
Fixed Assets - Additional Information (Details)
Fixed Assets - Minimum Future Payments (Details)
Fixed Assets - Summary (Details)
Fixed Assets - Supplemental Balance Sheet And Cash Flow Information (Details)
Organization And Description Of Business
Organization And Description Of Business (Details)
Patents And Other Intangible Assets
Patents And Other Intangible Assets (Tables)
Patents And Other Intangible Assets - Additional Information (Details)
Patents And Other Intangible Assets - Future Amortization Expense (Details)
Patents And Other Intangible Assets - Summary (Details)
Revenue, Contract Assets And Contract Liabilities
Revenue, Contract Assets And Contract Liabilities (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies - Contract Acquisition Costs And Practical Expedients (Details)
Summary Of Significant Accounting Policies - Fixed Assets And Leases (Details)
Summary Of Significant Accounting Policies - Foreign Operations (Details)
Summary Of Significant Accounting Policies - Net Loss Per Common Share (Details)
Summary Of Significant Accounting Policies - Noncontrolling Interest (Details)
The Paycheck Protection Program (Ppp) Loan
The Paycheck Protection Program (Ppp) Loan (Details)

Material Contracts, Statements, Certifications & more

Clearsign Combustion Corp provided additional information to their SEC Filing as exhibits

Ticker: CLIR
CIK: 1434524
Form Type: 10-Q Quarterly Report
Accession Number: 0001558370-22-008947
Submitted to the SEC: Mon May 16 2022 4:07:19 PM EST
Accepted by the SEC: Mon May 16 2022
Period: Thursday, March 31, 2022
Industry: Industrial Instruments For Measurement Display And Control

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