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TULSA, Okla. - ClearSign Technologies Corporation (NASDAQ:CLIR), a small-cap industrial technology company currently valued at $30.4 million, has received a purchase order for engineering and computational modeling of an enhancement to its process burner technology, the company announced Thursday.
The modeling work is intended for potential implementation in a California refinery’s process heater. The actual supply and installation of the technology depends on successful completion of this initial engineering phase. According to InvestingPro data, the company maintains a strong financial position with more cash than debt on its balance sheet and a healthy current ratio of 5.63x.
Jim Deller, CEO of ClearSign, said the company is "encouraged by the continued engagement" from this customer. The installation is expected to be completed in early 2026, coordinated with other ongoing projects with the same customer.
The anticipated enhancement represents an expansion of ClearSign’s combustion technology offerings, which focus on emissions reduction and operational efficiency.
ClearSign Technologies develops industrial combustion and sensing technologies designed to reduce emissions, improve energy efficiency, and enable hydrogen fuel use. The company’s products include ClearSign Core and ClearSign Eye technologies.
The information in this article is based on a company press release statement. Financial terms of the purchase order were not disclosed.
In other recent news, ClearSign Technologies Corp reported a significant decrease in revenue for Q1 2025, dropping to $400,000 from $1,100,000 in the same quarter the previous year. This decline was accompanied by an increase in net loss of approximately $1,000,000. In addition to financial updates, ClearSign Technologies held its annual meeting of stockholders, where shareholders voted on several key proposals, including the election of six directors to the board. The company announced that David M. Maley did not stand for re-election, leading to a reduction in the board’s size from seven to six members. Furthermore, ClearSign Technologies updated its board committee memberships following these changes, with Catharine M. de Lacy resigning from the Audit and Risk Committee and G. Todd Silva and Louis J. Basenese being appointed to it. Judith S. Schrecker continues to serve as the chairperson of the committee. These developments reflect ongoing adjustments within the company’s governance structure.
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