ClearSign Q2 2024 Earnings Report
Key Takeaways
ClearSign Technologies reported advancements in its business during the second quarter of 2024, including securing significant new orders, progressing with new product development, and increasing engagement with customers and industry stakeholders. The company's installation base grew, with orders from larger global collaborators. Strategic marketing initiatives included product demonstrations and unveiling emissions performance data. Additionally, ClearSign closed a public offering and concurrent private placement, resulting in gross proceeds of approximately $9.3 million and $4.3 million, respectively. Cash and cash equivalents were approximately $16 million as of June 30, 2024.
Received initial engineering order for a 26 burner project at a Texas petrochemical facility.
Secured order for the largest boiler burner sold to date, nearly twice the size of the previous largest.
Closed public offering and concurrent private placement, generating approximately $13.6 million in gross proceeds.
Announced successful start-up of second multi-burner heater at Kern Energy, with emissions levels below guarantee.
ClearSign
ClearSign
Forward Guidance
The company did not provide specific forward guidance.