TULSA, Okla. - ClearSign Technologies Corporation (NASDAQ: CLIR), a company specializing in industrial combustion and sensing technologies with a market capitalization of $56.76 million, has expanded its partnership with Zeeco, Inc., a global leader in advanced combustion solutions. According to InvestingPro analysis, ClearSign's stock is currently trading below its Fair Value, suggesting potential upside opportunity. The collaboration aims to launch a new line of process burners that integrate ClearSign's Core technology, capable of firing both natural gas and hydrogen while maintaining emissions below 5 parts per million (ppm) of nitrogen oxides (NOx), adhering to stringent environmental standards.
The announcement marks a significant step in the companies' alliance, which began in 2020. Zeeco has provided support by allowing ClearSign to utilize its Global Technology Center in Broken Arrow, Oklahoma, for R&D, testing, and manufacturing. This partnership has led to the validation of ClearSign's burner technology under actual process conditions, gaining industry acceptance.
Both companies will co-market and sell the newly branded ZEECO®-ClearSign process burner product lines. ClearSign's technology is expected to enhance Zeeco's emission control capabilities, while Zeeco's global presence and manufacturing expertise are set to amplify ClearSign's market reach and reputation.
Zeeco's President and CEO, Darton Zink, expressed that collaborating with ClearSign aligns with Zeeco's commitment to developing innovative solutions that advance the industry. The initiative is strategically designed to leverage Zeeco's resources and manufacturing capabilities to distribute the technology worldwide.
ClearSign Technologies Corporation's portfolio includes products that aim to decarbonize industrial and commercial systems, improve operational performance, energy efficiency, emission reduction, and overall cost-effectiveness. Zeeco, established in 1979, has become a world leader in combustion and environmental solutions, with a significant number of projects across various industries.
This press release contains forward-looking statements, which are based on the companies' current expectations and involve risks and uncertainties. The company has demonstrated impressive revenue growth of 263% over the last twelve months, though investors should note that comprehensive analysis, including detailed financial projections and risk assessments, is available through the InvestingPro Research Report, part of the platform's coverage of over 1,400 US equities. These include the ability of both ClearSign and Zeeco to successfully commercialize and market the co-branded burners and the technology's acceptance in the market. The information is based on a press release statement, and the companies caution that actual results may differ materially from those projected in forward-looking statements due to various factors.
For more information on ClearSign Technologies Corporation and Zeeco, Inc., including their respective products and technologies, please visit their official websites.
In other recent news, ClearSign Technologies Corporation has reported substantial growth in its financial performance. The company's revenues have skyrocketed to approximately $1.9 million from $85,000 in the same period last year. Year-to-date revenues have also experienced a significant surge, reaching $3 million, which is a $1.9 million increase from the previous year. Gross profit margins have improved as well, growing from 22% to 33%.
ClearSign has also secured a new purchase order for a boiler burner from Rogue Combustion, a subsidiary of California Boiler. This low-emission burner is expected to be incorporated into Cal Boiler's rental fleet. The fabrication and shipment of the new boiler burner are scheduled for the second quarter of 2025.
The company has also strengthened its partnership with ZECO, co-branding and developing joint marketing plans. This strategic partnership has already resulted in ClearSign shipping 20 burners to a Los Angeles refinery and receiving a 26-burner order from a Fortune 500 petrochemical company. Despite these positive developments, ClearSign has decided to suspend operations in China due to delayed commercial progress.
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