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TULSA, Okla. - ClearSign Technologies Corporation (NASDAQ: CLIR), a small-cap technology company with remarkable revenue growth of 263% over the last twelve months, has announced the upcoming installation of its ClearSign Eye sensors at a major Gulf Coast refinery in the United States. This marks the first commercial trial of the company’s sensors, which are designed to enhance safety and reduce emissions by detecting functioning burner pilots without direct flame contact. According to InvestingPro analysis, the company maintains a FAIR overall financial health score despite its growth trajectory.
The installation, expected to take place in the second quarter of the year, will equip each burner of a multi-burner process heater with the new technology. According to ClearSign CEO Jim Deller, Ph.D., the sensors offer improved durability and reliability over traditional equipment, a claim that led to the refinery’s decision to proceed with the trial following a thorough technical review. The company’s strong balance sheet, with a current ratio of 7.46 and more cash than debt, provides financial flexibility to support such technological deployments.
ClearSign Technologies specializes in products aimed at decarbonization and improving the performance characteristics of industrial and commercial systems. These include operational performance, energy efficiency, emission reduction, and the use of hydrogen as a fuel. The company’s patented technologies, such as ClearSign Core™ and ClearSign Eye, are intended to enhance the performance of combustion systems and fuel safety systems across various markets, including energy production, refining, and power industries. While the stock has experienced a significant decline of 44% year-to-date, analysts maintain a $6 price target, suggesting potential upside. For detailed analysis and additional insights, check out the comprehensive research report available on InvestingPro, which covers over 1,400 US stocks.
The press release includes forward-looking statements regarding the potential benefits and performance of the company’s technology. However, these statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. InvestingPro data reveals 12 additional key investment tips for CLIR, providing crucial context for evaluating these forward-looking statements.
This news is based on a press release statement from ClearSign Technologies Corporation.
In other recent news, ClearSign Technologies Corporation has been awarded a $400,000 grant from the U.S. Department of Energy. This grant is intended to further develop its ultra-low NOx industrial hydrogen burner technology, which aims to decarbonize high-temperature industrial processes. Additionally, ClearSign has expanded its partnership with Zeeco, Inc. to introduce a new line of low-emission process burners. These burners integrate ClearSign’s Core technology, capable of firing both natural gas and hydrogen with emissions below 5 parts per million of nitrogen oxides. Furthermore, ClearSign has secured a purchase order from Rogue Combustion, a subsidiary of California Boiler, for a boiler burner with ultra-low NOx emissions. This burner will join Cal Boiler’s rental fleet, with fabrication and shipment expected in the second quarter of 2025. These developments highlight ClearSign’s ongoing efforts to enhance emission control capabilities and expand market reach through strategic partnerships and innovative technologies.
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