Release Date: May 21, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- ClearSign Technologies Corp (CLIR, Financial) has seen a significant increase in the number of quotations provided, with the total value of proposals nearly five times higher than the same period last year.
- The company is making progress with large process burner orders, including a 26-burner order for a Gulf Coast chemicals company and a 20-burner installation for a Los Angeles refinery.
- ClearSign Technologies Corp (CLIR) is experiencing a resurgence in its flare product line, driven by new regulatory needs, and has received repeat orders from existing customers.
- The collaboration with Zeeco is progressing well, with marketing teams working together to engage Zeeco's sales force, which could significantly expand ClearSign's market reach.
- The ClearSign Eye sensor product line is gaining traction, with upcoming installations in prominent refineries, indicating potential for future growth in this market segment.
Negative Points
- ClearSign Technologies Corp (CLIR) reported a decrease in revenues for the first quarter of 2025, down from $1.1 million in the same period in 2024 to approximately $400,000.
- The company experienced an increase in net loss by approximately $1 million compared to the same quarter in 2024, partly due to decreased sales volume and significant legal fees.
- There is a perception among some investors that the company has been relatively quiet in terms of public announcements, which may affect investor confidence.
- The company is still in the early stages of its engagement with Zeeco, and no inquiries have yet come in from Zeeco's sales team, indicating that the partnership's impact is not yet realized.
- The market for boiler burners has been generally quiet, with only a recent increase in inquiries, suggesting potential challenges in this product line.
Q & A Highlights
Q: Can you provide an update on the recent press release about a flare order and its significance for ClearSign?
A: Colin Deller, CEO, explained that the recent flare order is a repeat order from an existing customer, indicating growing traction in this product line. The order involves engineering and building a flare burner designed for low NOx emissions. This development highlights ClearSign's ability to retrofit existing products and meet new regulatory needs.
Q: What progress has been made with the large process burner orders for major refineries?
A: Colin Deller, CEO, stated that ClearSign has two significant process burner orders in progress. The first involves 20 burners for a Los Angeles refinery, scheduled for installation in Q3 2025. The second is a 26-burner order for a Gulf Coast chemicals company, currently in final engineering and testing phases. These installations are crucial for establishing ClearSign's reputation in the industry.
Q: How is the partnership with Zeeco progressing, and what impact is it expected to have on sales?
A: Colin Deller, CEO, mentioned that the partnership with Zeeco is progressing well, with marketing teams collaborating effectively. The first inquiries from Zeeco's sales leads are anticipated soon, which could significantly expand ClearSign's market reach and sales opportunities.
Q: Can you provide insights into the sales pipeline and market interest in ClearSign's products?
A: Colin Deller, CEO, reported that the number of quotations provided this year has doubled compared to last year, with the total value of proposals nearly five times higher. This indicates strong market interest and potential growth, although these are not yet confirmed orders.
Q: What is the status of the ClearSign Eye sensor product line, and what are the expectations for its commercialization?
A: Colin Deller, CEO, shared that the ClearSign Eye sensors are in production for a Gulf Coast refinery, with installation expected in the coming months. The sensors address industry needs for reliable flame detection, and commercial orders are anticipated to increase as the product proves its value in the field.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
