Tulsa, OK., July 13, 2023–ClearSign Technologies Corporation (Nasdaq: CLIR) (“ClearSign” or the “Company”), an emerging leader in industrial combustion and sensing technologies that improve energy, operational efficiency and safety while dramatically reducing emissions, today announced that the Company’s collaboration partner, Narion has been awarded a $250,000 phase one SBIR (small business innovation research) grant from the Department of Energy (DOE) to develop a technology utilizing ClearSign’s sensor, which will allow Narion to enable the efficient and complete combustion of flared waste gas.
“We are excited to announce this milestone of the application of our sensor technology into the wide-ranging opportunities outside of the traditional ClearSign Core low emissions burner technology and flame sensing applications. Pursuing opportunities like this was the reason we partnered with Narion, and we congratulate them on this success,” said Jim Deller, Ph.D., Chief Executive Officer of ClearSign. “This is another example of how we provide solutions that are critically needed for both the industry’s ability to affordably comply to stringent regulatory requirements and the global efforts to reduce harmful greenhouse gas emissions. This technology that Narion is developing with the use of ClearSign’s sensor technology will reduce greenhouse gas emissions and reduce the carbon emissions of flaring systems, which is greatly needed in the industry. We look forward to the advancement of this project, and the following commercialization of the resulting products.”
Narion has been selected for a $250,000 Department of Energy SBIR Phase I grant titled “Cost Effective Real-Time Flare Gas Characterization for Optimizing Methane Destruction”. Narion, in partnership with ClearSign, will be developing a novel combustion characterization sensor that directly determines the operational parameters to achieve efficient and complete combustion of flared waste gas. Additionally, the sensor is an enabling technology to help waste gas capture systems optimize their value proposition by helping to optimize selective capturing of high value waste gas.
About ClearSign Technologies Corporation
ClearSign Technologies Corporation designs and develops products and technologies for the purpose of improving key performance characteristics of industrial and commercial systems, including operational performance, energy efficiency, emission reduction, safety and overall cost-effectiveness. Our patented technologies, embedded in established OEM products as ClearSign Core™, and ClearSign Eye™ and other sensing configurations, enhance the performance of combustion systems and fuel safety systems in a broad range of markets, including the energy (upstream oil production and down-stream refining), commercial/industrial boiler, chemical, petrochemical, transport and power industries. For more information, please visit www.clearsign.com.
About Narion Corportation
Narion Corporation is at the forefront of creating innovative solutions for monitoring flammable environments. We harness the intricate knowledge of flammability and combustion and deploy it across a diverse array of industries such as aerospace, oil & gas, and chemical industries. Our technologies are designed to enhance safety, improve efficiency, and contribute to a more sustainable future. More information can be found at www.narioncorp.com.
Cautionary note on forward-looking statements
All statements in this press release that are not based on historical fact are “forward-looking statements.” You can find many (but not all) of these statements by looking for words such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “would,” “should,” “could,” “may,” “will” or other similar expressions. While management has based any forward-looking statements included in this press release on its current expectations on the Company’s strategy, plans, intentions, performance, or future occurrences or results, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties and other factors, many of which are outside of the Company’s control, that could cause actual results to materially differ from such statements. Such risks, uncertainties and other factors include, but are not limited to, ClearSign’s ability to successfully develop and commercialize the new sensor technology in collaboration with Narion, and other factors identified in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission and available at www.sec.gov and other factors that are detailed in the Company’s periodic and current reports available for review at www.sec.gov. Furthermore, ClearSign operates in a competitive environment where new and unanticipated risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. The Company disclaims any intention to, and, except as may be required by law, undertake no obligation to, update or revise forward-looking statements to reflect events or circumstances that subsequently occur or of which ClearSign hereafter becomes aware.
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