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Mar 31, 2023
ClearSign Q1 2023 Earnings Report
ClearSign's first quarter of 2023 was marked by a new trajectory with execution in sales and demonstration tests.
Key Takeaways
ClearSign Technologies reported revenue of $900 thousand for the first quarter of 2023, compared to zero revenue for the same period in 2022. The company is transitioning into a new phase of commercialization with multiple sales of boiler burners in California and Texas, and progress on multi-burner process burner orders.
Received engineering order and follow-on order for two multi-burner heaters from a California refinery, totaling 13 burners.
Completed successful Phase 1 testing of ultra-low NOx 100% hydrogen burner and submitted a follow-up proposal for Phase 2 grant funding of up to $1.6 million.
Entered the Texas Gulf Coast market with a burner sale to a global chemical company for a process heater.
Announced first and second boiler burner sales into the California market for medical/business waste services and recycling services.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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