Market Overview

ClearSign Announces Collaborative Agreement with ASHCOR to Develop, Manufacture and Market Flares

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SEATTLE, June 18, 2019 /PRNewswire/ -- ClearSign Combustion Corporation (NASDAQ:CLIR) ("ClearSign" or the "Company"), an emerging leader in industrial combustion technologies that improve energy and operational efficiencies while dramatically reducing emissions, today announces that the Company has entered into a collaborative agreement with ASHCOR with the goal of developing and growing the Company's business in the flare/incinerator vertical.  

ClearSign Logo (PRNewsFoto/ClearSign Combustion Corporation) (PRNewsfoto/ClearSign Combustion Corporation)

The agreement combines ClearSign's technology and ASHCOR's expert flare knowledge, business infrastructure and manufacturing capabilities. The agreement covers both forced air flare and vapor combustor systems as well as natural draft flares. Both parties anticipate that this collaboration will provide enhanced low emission flare products to the market as a new offering from a well-established and highly reputable flare supplier. The companies believe that the agreement will result in increased market share for each, development of a new mutual flare business in additional regions and markets, and the ability to provide flare products that are highly differentiated and that provide notable performance benefits.

Under the terms of the agreement, the parties will work together to customize the design and develop a full range of forced draft and natural draft systems. The new product ranges will incorporate ClearSign technology, ClearSign Core, into the established flare system expertise and proven reputation of ASHCOR. The companies will jointly promote and support this product line.   

"We are pleased to announce our first collaborative agreement in one of our target verticals," said Jim Deller Ph.D., Chief Executive Officer of ClearSign. "ASHCOR is a creative and dynamic company and a good fit with ClearSign. Our respective visions of the opportunities this collaboration can provide are well aligned. We look forward to working with ASHCOR to develop our mutual flare business, which we expect will grow sales and market coverage for both companies," continued Dr. Deller. "As our first commercial alliance, and our first formal step in the implementation of our commercialization strategy of including ClearSIgn technology as a "ClearSign Core" in an established equipment suppliers product range, this is significant for ClearSign. We expect to see additional collaborative agreements going forward as we execute on our commercial strategy." 

"ASHCOR is committed to being a clean energy leader both in the U.S. and internationally, and our partnership with ClearSign Combustion further illustrates our commitment to better serve our customers through technological advances in environmentally friendly solutions," said Andy Smith, CEO of ASHCOR. "Our customers throughout the oil and gas, biogas, landfill, mining and wastewater treatment markets will benefit from the ability to achieve industry leading destruction efficiency of harmful waste gases while emitting significantly lower NOx levels than traditional technology."

About ClearSign Combustion Corporation

ClearSign Combustion Corporation designs and develops products and technologies for the purpose of improving key performance characteristics of combustion systems, including emissions and operational performance, energy efficiency and overall cost-effectiveness. Our patented technologies, embedded in established OEM products as ClearSign Core enhance the performance of combustion systems in a broad range of markets, including the energy (upstream oil production and down-stream refining), commercial/industrial boiler, chemical, petrochemical, and power industries. For more information, please visit www.clearsign.com.

About ASHCOR

ASHCOR is an international technology provider to a wide range of industry segments including oil and gas, biogas, mining and fabrication. Grown by a team of oil-and-gas veterans, ASHCOR originated from installation, service and maintenance and has evolved based on the desire to help companies become more efficient in their operations through flaring and combustion solutions. The experienced ASHCOR team is dedicated to recognizing the needs and processes of a company to create an efficient service environment with solutions that work. The ASHCOR family of brands includes ASHCOR flares and combustors, ASHCOR flame arresters, Flame Smart Burner Management Systems and ASHCOR Fabrication. For more information please visit www.ashcor.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, which 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 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 to be 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 Combustion Corporation

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