ClearSign Technologies Corporation Provides Third Quarter 2023 Update

Announced the Collaboration and Support from SoCalGas for its Flexible Hydrogen Fueled Ultra Low NOx Process Burner Project: SoCalGas will promote the introduction and field demonstration of the hydrogen capable ClearSign Core burner technology in Southern California, as well as provide an additional $500,000 to fund to the project which is designed to help decarbonize hard-to-electrify industries, which is entering its commercialization phase. 

The Company recognized approximately $85 thousand in revenue during the three months ended September 30, 2023, as compared to zero revenue for the same period of 2022. 

Cash, cash equivalents and short-term investments were approximately $7.2 million as of September 30, 2023.

There were 38,565,836 shares of the Company's common stock issued and outstanding as of September 30, 2023.

The Company will be hosting a call at 5:00 PM ET today. Investors interested in participating on the live call can dial 1-866-372-4653 within the U.S. or 1-412-902-4217 from abroad. Investors can also access the call online through a listen-only webcast at  https://app.webinar.net/dWz7ApJRlBv or on the investor relations section of the Company's website at
http://ir.clearsign.com/overview.

The webcast will be archived on the Company's investor relations website for at least 90 days and a telephonic playback of the conference call will be available by calling 1-877-344-7529 within the U.S. or 1-412-317-0088 from abroad. Conference ID #4731576. The telephonic playback will be available for 7 days after the conference call.

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.

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 our control, that could cause actual results to materially differ from such statements. Such risks, uncertainties and other factors include, but are not limited to, our ability to successfully deliver, install, and meet the performance obligations of our burners in the California and Texas market, and any other markets we may sell our products in; our ability to further expand the sale of ultra-low NOx process and boiler burners; our ability to successfully perform engineering orders; our ability to successfully develop our 100% hydrogen burner with the Phase 2 grant funding; general business and economic conditions; the performance of management and our employees; our ability to obtain financing, competition; whether our technology will be accepted and adopted and other factors identified in our Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission and available at www.sec.gov and other factors that are detailed in our periodic and current reports available for review at www.sec.gov. Furthermore, we operate 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. We disclaim 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 we hereafter become aware.

ClearSign Technologies Corporation and Subsidiary Condensed Consolidated Statements of Operations (Unaudited)
(in thousands, except share and per share data)		For the Three Months Ended						For the Nine Months Ended
		September 30,						September 30,
		2023			2022			2023			2022
Revenues		$	85		$	324		$	1,129		$	324
Cost of goods sold			61			201			870			201
Gross profit			24			123			259			123
Operating expenses:
Research and development			93			97			440			393
General and administrative			1,428			1,461			4,649			4,342
Total operating expenses			1,521			1,558			5,089			4,735
Loss from operations			(1,497)			(1,435)			(4,830)			(4,612)
Other income
Interest			85			35			237			35
Government assistance			38			88			145			100
Gain from sale of assets			—			—			5			37
Other income, net			42			—			204			—
Total other income			165			123			591			172
Net loss		$	(1,332) Werbung Mehr Nachrichten zur ClearSign Combustion Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 29.04.24 - PR Newswire Rightmove Plc - Transaction in Own Shares 29.04.24 - PR Newswire Moonpig Group Plc - Holding(s) in Company 29.04.24 - PR Newswire Samson Rock Capital LLP - Form 8.3 - TClarke Plc Basin Uranium - Es geht los    Der Uran-Superzyklus ist gestartet! weiterlesen» Anzeige wo-site-teaser-box-16791_site-teaser-box_2024-04-29_07%253A00%253A00_2024-04-30_09%253A00%253A59