SEATTLE, June 18, 2019 /PRNewswire/ -- ClearSign
Combustion Corporation (Nasdaq: CLIR) ("ClearSign" or the
"Company"), an emerging leader in industrial combustion
technologies that improve energy and operational efficiencies while
dramatically reducing emissions, today announces that the Company
has entered into a collaborative agreement with ASHCOR with the
goal of developing and growing the Company's business in the
flare/incinerator vertical.
The agreement combines ClearSign's technology and ASHCOR's
expert flare knowledge, business infrastructure and manufacturing
capabilities. The agreement covers both forced air flare and vapor
combustor systems as well as natural draft flares. Both
parties anticipate that this collaboration will provide enhanced
low emission flare products to the market as a new offering from a
well-established and highly reputable flare supplier. The companies
believe that the agreement will result in increased market share
for each, development of a new mutual flare business in additional
regions and markets, and the ability to provide flare products that
are highly differentiated and that provide notable performance
benefits.
Under the terms of the agreement, the parties will work together
to customize the design and develop a full range of forced draft
and natural draft systems. The new product ranges will incorporate
ClearSign technology, ClearSign Core™, into the
established flare system expertise and proven reputation of ASHCOR.
The companies will jointly promote and support this product
line.
"We are pleased to announce our first collaborative agreement in
one of our target verticals," said Jim Deller Ph.D., Chief
Executive Officer of ClearSign. "ASHCOR is a creative and dynamic
company and a good fit with ClearSign. Our respective visions of
the opportunities this collaboration can provide are well aligned.
We look forward to working with ASHCOR to develop our mutual flare
business, which we expect will grow sales and market coverage for
both companies," continued Dr. Deller. "As our first commercial
alliance, and our first formal step in the implementation of our
commercialization strategy of including ClearSIgn technology as a
"ClearSign Core" in an established equipment suppliers product
range, this is significant for ClearSign. We expect to see
additional collaborative agreements going forward as we execute on
our commercial strategy."
"ASHCOR is committed to being a clean energy leader both in the
U.S. and internationally, and our partnership with ClearSign
Combustion further illustrates our commitment to better serve our
customers through technological advances in environmentally
friendly solutions," said Andy
Smith, CEO of ASHCOR. "Our customers throughout the oil and
gas, biogas, landfill, mining and wastewater treatment markets will
benefit from the ability to achieve industry leading destruction
efficiency of harmful waste gases while emitting significantly
lower NOx levels than traditional technology."
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 technologies, embedded in
established OEM products as ClearSign
Core™ 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.
About ASHCOR
ASHCOR is an international technology provider to a wide range
of industry segments including oil and gas, biogas, mining and
fabrication. Grown by a team of oil-and-gas veterans, ASHCOR
originated from installation, service and maintenance and has
evolved based on the desire to help companies become more efficient
in their operations through flaring and combustion
solutions. The experienced ASHCOR team is dedicated to
recognizing the needs and processes of a company to create an
efficient service environment with solutions that work. The ASHCOR
family of brands includes ASHCOR flares and combustors, ASHCOR
flame arresters, Flame Smart Burner Management Systems and ASHCOR
Fabrication. For more information please visit www.ashcor.com.
Cautionary note on forward-looking statements
All statements in this press release that are not based on
historical fact are "forward-looking statements." You can find many
(but not all) of these statements by looking for words such as
"approximates," "believes," "hopes," "expects," "anticipates,"
"estimates," "projects," "intends," "plans," "would," "should,"
"could," "may," "will" or other similar expressions. 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 and 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