ClearSign Technologies Corporation (ClearSign) is a United States-based company that develops emission-control technology.[2]
ClearSign develops technology intended to increase energy efficiency and emissions standards of combustion systems, primarily industrial and commercial boilers and furnaces.[2] Its products include Duplex Burner Architecture, which the company says reduces combustion burner flame length by more than 80-percent, in turn increasing thermal capacity and reducing operating costs. Duplex Burner Architecture won the "New Technology Development of the Year Award" at the 2014 West Coast Oil & Gas Awards.[3] The company's other major product is Electrodynamic Combustion Control, which uses computer-controlled electric fields to control the flame shape in boilers, kilns, and furnaces, preventing pollution from forming.[4][5]
ClearSign was formed in Seattle, Washington in 2008. Its first chief executive officer was Richard Rutkowski, who also became chairman of the board of directors. Rutkowski was a co-founder of projection technology company Microvision and nanotechnology company Lumera.[6]
In 2012 ClearSign held an initial public offering which, according to the company, raised $13.8 million.[7] ClearSign chose to delay adopting accounting standards required of publicly traded companies under the Sarbanes-Oxley Act, taking advantage of exemptions in the JOBS Act designed to make it cheaper for development-stage companies to raise capital.[8] It is believed ClearSign may have been the first company in the U.S. to do so.[9][10]
In December 2014, Rutkowski resigned as CEO. He was replaced by board member Stephen Pirnat.[2] The following September, the company was named "Technology Company of the Year" by Petroleum Economist.[11]
On November 12, 2019, ClearSign Combustion Corporation (Nasdaq: CLIR) (“ClearSign” or the “Company”), announced that the Company has changed its name to ClearSign Technologies Corporation. The Company’s ticker “CLIR” will remain the same.[12]
As of September 2024, ClearSign Technologies held US$14 million in cash and had no debt. Over the preceding year, the company reported a cash burn of US$5.7 million, indicating a projected cash runway of approximately 2.5 years from that date.[13] During the same period, ClearSign increased its cash burn by 115%, reflecting a significant rise in investment activity. This coincided with a 263% increase in revenue over the year.[13]
