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Dec 31, 2022
ClearSign Q4 2022 Earnings Report
Provided update on operations for the full year ended December 31, 2022.
Key Takeaways
ClearSign Technologies Corporation reported on its operations for the full year ended December 31, 2022, highlighting recent sales, progress with a California refinery project, and success in developing a 100% Ultra Low NOx hydrogen burner.
Completed final multi burner testing and demonstration phase for 20 burner California project.
Completed successful Phase 1 testing of Ultra-Low NOx 100% Hydrogen Burner.
Entered the Texas Gulf Coast Market with Burner Sale to Global Chemical Company.
Announced First and Second Boiler Burner Sales into the California Market.
ClearSign
ClearSign
Forward Guidance
The company is focused on completing manufacturing for delivery to the job site later this year, submitting a follow-up proposal for Phase 2 grant funding, and installing boiler burners in new business verticals and with partners.
Positive Outlook
- Completing manufacturing for delivery to the job site later this year.
- Submitting a follow-up proposal for Phase 2 grant funding.
- Installing boiler burners in a new business vertical of medical and business waste services.
- Installing boiler burners with a national service provider of recycling services.
- Continuing to evolve technologies for current and future commercial applications.
Challenges Ahead
- Ability to successfully install burners in the California and Texas market.
- Completing the anticipated ultra-low NOx boiler burners installation within the expected time frame.
- Ability to further expand the sale of ultra-low NOx boiler burners.
- Performance of the Phase I work and likelihood that we submit, and are approved, for Phase II grant funding.
- Whether our technology will be accepted and adopted.