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.
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SOURCE ClearSign Combustion Corporation