ClearSign Technologies Corporation Announces Development Contract with Global Aerospace Company

Date : 03/10/2020 @ 12:30PM
Source : PR Newswire (US)
Stock : ClearSign Technologies Corporation (CLIR)
Quote : 0.5265  -0.0318 (-5.70%) @ 11:31PM
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ClearSign Technologies Corporation Announces Development Contract with Global Aerospace Company

ClearSign Technologies (NASDAQ:CLIR)
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SEATTLE, March 10, 2020 /PRNewswire/ -- 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 announces it has entered into a technology development contract with a leading global aerospace company.

ClearSign Logo (PRNewsFoto/ClearSign Combustion Corporation) (PRNewsfoto/ClearSign Combustion Corporation)

The contract activities include the testing and demonstration of ClearSign's sensing technology in the unique environmental conditions experienced by aerospace technologies. The contract is a zero cost arrangement established to enable the mutual assessment of the performance of ClearSign sensor technology for this application which will enable increased efficiency and reduced maintenance of an aerospace fleet.  The ultimate goal of the project is to develop a series of commercial sensing products to benefit a wide range of aerospace fleet and military applications.   

"This is an exciting development for our sensing technology, and potentially a very significant diversification outside of industrial combustion for ClearSign," said Jim Deller Ph.D., Chief Executive Officer of ClearSign. "We believe that there are large addressable markets for these technologies and are delighted to partner with a global aerospace industry leader to establish this development process."

About ClearSign Technologies Corporation

ClearSign Technologies Corporation designs and develops products and technologies for the purpose of improving key performance characteristics of industrial and commercial systems, including operational performance, energy efficiency, emission reduction, safety and overall cost-effectiveness. Our patented technologies, embedded in established OEM products as ClearSign Core™, and ClearSign Eye™ and other sensing configurations, enhance the performance of combustion systems and fuel safety systems in a broad range of markets, including the energy (upstream oil production and down-stream refining), commercial/industrial boiler, chemical, petrochemical, transport 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." 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, that 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 adopted 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 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 Technologies Corporation

Copyright 2020 PR Newswire

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