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TULSA, Okla. - ClearSign Technologies Corporation (NASDAQ:CLIR), a $60 million market cap company known for its work in industrial combustion and sensing technologies, has received a $400,000 grant from the U.S. Department of Energy’s Energy Efficiency and Renewable Energy Industrial Efficiency and Decarbonization Office. The company, which has shown impressive revenue growth of 263% over the last twelve months according to InvestingPro data, appears undervalued based on comprehensive Fair Value analysis. The grant is aimed at advancing the development of its ultra-low NOx industrial hydrogen burner technology, which is expected to contribute to the decarbonization of high-temperature industrial processes.
The project, led by ClearSign’s Senior Research Scientist Dr. Robert Geiger, will focus on creating innovative computational models to optimize industrial furnaces and combustion equipment for 100% hydrogen fuel utilization. According to CEO Jim Deller, Ph.D., the development of these models is intended to rapidly assess the impact of design variations on flame characteristics and support the creation of new burner technologies for industries aiming to reduce their carbon emissions. The company maintains a strong financial position with a current ratio of 7.46, indicating ample liquidity to fund its innovative projects.
Utilizing high-performance computing, the initiative aims to address challenges such as flame positioning and fuel-air mixing, with the goal of encouraging widespread adoption of hydrogen in industrial settings. The approach is projected to significantly reduce greenhouse gas emissions, with an estimated annual reduction potential of up to 276 million metric tons.
ClearSign’s technology portfolio includes ClearSign Core™ and ClearSign Eye™, which are designed to enhance the performance of combustion systems and improve fuel safety across various sectors, including energy production, refining, and transportation.
This news is based on a press release statement, which outlines the company’s forward-looking objectives. ClearSign’s efforts align with a broader industry movement towards cleaner energy sources, although the success of their technology in the market and its ultimate environmental impact will be subject to future developments and regulatory changes. The stock has shown strong momentum with a 38% gain over the past six months, despite recent volatility. For deeper insights into ClearSign’s financial health and growth prospects, including 10+ additional ProTips and comprehensive analysis, visit InvestingPro.
In other recent news, ClearSign Technologies Corporation has made significant strides in its financial performance and partnerships. The company reported a substantial increase in its revenues, which soared to approximately $1.9 million from $85,000 in the same period last year. Year-to-date revenues also experienced a significant surge, reaching $3 million, a $1.9 million increase from 2023. Gross profit margins improved as well, growing from 22% to 33%.
ClearSign has also expanded its partnership with Zeeco, with the aim of launching a new line of low-emission process burners. This collaboration integrates ClearSign’s Core technology, capable of firing both natural gas and hydrogen while maintaining emissions below 5 parts per million of nitrogen oxides, adhering to stringent environmental standards. The companies will co-market and sell the newly branded Zeeco-ClearSign process burner product lines.
In conjunction with its partnership with Zeeco, ClearSign secured a new purchase order for a boiler burner from Rogue Combustion, a subsidiary of California Boiler. The fabrication and shipment of this low-emission burner are scheduled for the second quarter of 2025. Despite these positive developments, ClearSign has decided to suspend operations in China due to delayed commercial progress.
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