SEATTLE, May 3, 2018 /PRNewswire/ -- ClearSign
Combustion Corporation (Nasdaq: CLIR) ("ClearSign" or
the "Company"), an emerging leader in industrial combustion
technologies that reduce emissions and improve efficiency, is
providing an update on the pilot test project with one of
China's largest providers of
residential and commercial heating services.
"We're making encouraging progress as we work to achieve
ultra-low emissions levels in one of the world's largest markets
for our technology," said Steve
Pirnat, Chairman and CEO of ClearSign. "This has
created significant opportunities for us to work throughout the
broader district heating market in China as well as the vast refinery, chemical,
and petrochemical industries. While the time constraints of the
heating season prevented us from finalizing our testing, our
partner remains interested in our patented Duplex technology and we
are very optimistic our technology will prevail, as it has in all
other commercial installations."
As previously announced, ClearSign is working with a large
state-owned enterprise (SOE) to install and demonstrate ClearSign's
innovative Duplex™ technology in one of its boilers. The project is
a joint collaboration with ClearSign handling the design and
oversight of the fabrication by the local partner.
During this initial phase of testing, the Company's experts
determined substantial burner modifications are necessary to
simplify the delivery of gas and air to provide an ideal operating
environment for ClearSign's Duplex technology to achieve ultra-low
NOx emissions. The level of modification is consistent with
previous initial installations for customers in other verticals.
Making the modifications to their existing equipment remains a key
motivation for the customer because of the potential cost-savings
of retrofitting versus replacing the existing burners.
The Company believes that once the first installation is
successful, the time required for subsequent installations will be
dramatically reduced, consistent with its experience in other
verticals. This is relevant to note, as the the Memorandum of
Understanding (MOU) with this customer specifies after successful
completion of the pilot test, the parties will move to negotiate a
subsequent definitive agreement to retro-fit multiple boilers
within the district's operational footprint of more than 1,000
units.
China's heating season
traditionally restarts in the fourth quarter. ClearSign
intends to use the time before the restart to work with the
customer on multiple options to demonstrate the Duplex technology
and satisfy the testing requirements as soon as practical.
"While this initial project has taken longer than originally
planned, the Chinese market remains a vast and important
opportunity for ClearSign," said Steve
Pirnat. "Unlike our domestic market, there is clear and
urgent government mandate driving adoption of Low NOx technologies
like Duplex."
As previously disclosed during the Q4 2017 conference call, the
Company is actively engaged in advanced discussions with additional
customers in China in the refinery
and petrochemical industries. "We look forward to providing
shareholders with updates on our progress in China in the coming months," said Pirnat.
First Quarter 2018 Conference Call Announcement
ClearSign will be filling their 10-Q and putting out a release
regarding the Company's First Quarter results ended March 31, 2018 prior to the call.
ClearSign invites you to a conference call discussing the
Company's First Quarter on Wednesday, May
23, 2018 at 4:30 PM Eastern
Time. To listen to the conference call, you should dial
1-866-372-4653 (international: +1-412-902-4217) five to ten minutes
before the scheduled start time and request to be connected to the
ClearSign Combustion Corporation conference call. To listen
by webcast use this link:
https://www.webcaster4.com/Webcast/Page/987/25668 or visit
ClearSign's Investor Relations page. If you wish to listen to a
replay of the conference call, you may dial 1-877-344-7529
(international: +1-412-317-0088) and enter conference ID 10119962.
The replay will be available for 7 days after the conference
call.
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.
View original content with
multimedia:http://www.prnewswire.com/news-releases/clearsign-combustion-corporation-provides-update-on-chinese-operations-and-announces-first-quarter-2018-conference-call-300641710.html
SOURCE ClearSign Combustion Corporation