ClearSign Technologies Corporation Announces Collaborative A
SEATTLE, Aug. 12, 2020 /PRNewswire/ -- 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, announces it has entered into a collaboration agreement with Zeeco, Inc. for the global process heater market.
Pursuant to the agreement, the parties expect to jointly develop, sell and supply a product line of best in class ultra low NOx burners for the global oil processing and petrochemical industries by combining the Company's ClearSign Core™ technology with the engineering, global manufacturing and sales footprint of Zeeco. The agreement is contingent on a successful burner validation test at the Zeeco test facility anticipated later this year.
Zeeco, Inc., is one of the world's leading manufacturers of advanced combustion technology and environmental solutions. Zeeco has executed 45,000+ projects in more than 100 countries, consisting of ultra-low NOx burners; gas and liquid flaring systems; flare gas recovery, vapor recovery, and vapor combustion units; thermal oxidizers; combustion rentals; and aftermarket products and services. The global headquarters for Zeeco's more than 1,000 employees and 25 other worldwide facilities is in Broken Arrow, Oklahoma.
"We are delighted to partner with the team at Zeeco," said Jim Deller Ph.D., Chief Executive Officer of ClearSign. "Our shared vision is to supply best in class solutions to the refining and petrochemical industries around the world, combining the expertise, resources and infrastructure of a global leader in the industry and the unique performance of our ClearSign Core™ technology. We couldn't ask for a better partner to execute our commercial strategy."
"We are excited about the technology that ClearSign presents and the opportunities it provides," said Darton Zink, President and Chief Executive Officer of Zeeco. "We anticipate the new line of burners will compliment our established product range, and will provide performance characteristics that have not previously been consistently achievable in our industry."
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.
Founded in 1979, Zeeco has steadily become a world leader in the design and manufacture of advanced combustion and environmental solutions. Headquartered in Broken Arrow, Oklahoma, USA, Zeeco is a privately held business with more than 1,000 employees and 25+ global locations on virtually every continent. The company has executed 45,000+ projects, including ultra-low NOx industrial burners, flares, hazardous waste incinerators, vapor control, and ancillary products for the refining, production, petrochemical, LNG, power, pharmaceutical, biogas, and other industries. ZEECO® products are designed to reduce emissions, optimize processing industries, and maximize operating efficiency while meeting all global environmental compliance requirements. Zeeco also provides comprehensive aftermarket parts, service, and engineered solutions as well as rental equipment. Zeeco's worldwide headquarters is located on a 250-acre campus which includes a 100,000 ft2 (9,290 m2) manufacturing facility, and the world's largest, industrial-scale research and test facilities. Learn more at www.Zeeco.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, 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, 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 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 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.
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SOURCE ClearSign Technologies Corporation