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Mar 31, 2022
ClearSign Q1 2022 Earnings Report
ClearSign Technologies Corporation provided an update on operations.
Key Takeaways
ClearSign Technologies reported on its Q1 2022 activities, including closing an underwritten public offering of common stock for gross proceeds of approximately $4,646,460, receiving a grant from the Department of Energy, an initial order for a multi-heater project from a California refinery, successful installation of a process burner order for a Super Major's European Refinery and relocating company headquarters to Tulsa, OK. Cash and cash equivalents were approximately $6,667,000 on March 31, 2022.
Closed an underwritten public offering of Common Stock with gross proceeds of approximately $4,646,460.
Awarded a grant from the Department of Energy to develop a hydrogen fueled ultra-low NOx process burner.
Received an initial engineering order from a large independent national refiner for a multi-heater project in California.
Successfully installed a process burner order for a Super Major's European Refinery.
ClearSign
ClearSign
Forward Guidance
The company intends to use the net proceeds from the offering for working capital, research and development, marketing and sales, and general corporate purposes.