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ClearSign Technologies Reports Record Annual Revenue for 2024

In a recent operational update, ClearSign Technologies Corporation, a notable player in industrial combustion and sensing technologies, revealed some exciting progress for the year 2024. The company, publicly traded on Nasdaq under the ticker CLIR, has reported an impressive annual revenue of approximately $3.6 million, marking a significant increase from the $2.4 million reported for the previous year. This surge in revenue was primarily attributed to successfully fulfilling orders for process burners, showing the demand for their innovative solutions in energy efficiency and reduced emissions.

Dr. Jim Deller, the CEO of ClearSign, expressed his satisfaction with the year's accomplishments, stating, _"We are very happy with what we have accomplished in the past year."_ He emphasized the importance of expanding their reputation as a reliable technology solutions provider while also increasing their sales channels, particularly through partnerships with original equipment manufacturers including heater manufacturers.

Significantly, ClearSign's collaborative relationship with Zeeco has progressed, yielding the launch of co-branded process burner products. The new Zeeco CS5 burners are designed with advanced ClearSign technology, which is capable of operating on either 100% natural gas or 100% hydrogen, thereby complying with stringent NOx emission regulations.

Major Highlights and Achievements

The following outlines some key developments and strategic highlights for ClearSign during and after the concluding quarter of 2024:

• - Record Revenue: The reported annual revenue of $3.6 million for 2024 marks a notable upturn, driven largely by a shipment of 20 process burners to a refinery client in California.

• - Partnership with Zeeco: ClearSign has reinforced its collaboration with Zeeco, leading to the introduction of a new line of burners, which potentially opens avenues for expanding their market reach globally.

• - Ongoing Projects in Texas: ClearSign secured a follow-on purchase order for a multi-heater project at a Texas petrochemical facility, which involves retrofitting four process heaters with 26 burners. This demonstrates the company's expanding footprint in the petrochemical sector.

• - Installation of ClearSign Eye Sensors: The company is set to install four ClearSign Eye sensors at a major Gulf Coast refinery. These sensors are integral to monitoring and enhancing safety and performance in industrial settings.

• - Enhancements to Product Line: Innovations continue within ClearSign's product range, including advanced flares and thermal oxidizers. The company is also refining its ClearSign Eye sensor technology to provide enhanced operational capabilities.

Financial Standing

As of December 31, 2024, ClearSign reported approximately $14 million in cash and cash equivalents, offering a solid foundation for future operations. The number of common shares outstanding was reported at 50,285,509, indicative of robust investor interest and market engagement.

ClearSign will be hosting a conference call to discuss these developments, where investors can gain deeper insights into the company’s trajectory and pipeline plans for 2025. The call will also feature a Q&A session, encouraging dialogue and engagement with stakeholders.

Looking Ahead

With a solid project pipeline and continued emphasis on innovation, ClearSign Technologies appears poised for growth in the coming years. The company’s strategic focus on decarbonization, operational efficiency, and safety in combustion systems underscores its value proposition in an evolving energy landscape. ClearSign’s efforts reflect not only a commitment to technological advancement but also a proactive response to global demands for cleaner energy solutions, positioning itself at the forefront of the industrial technology market.

For further details and updates, visit ClearSign’s investor relations website.