ClearSign Technologies Releases Study Highlights on Boiler Burners

ClearSign Technologies Corporation CLIR announced that its Ultra low  NOx  Burner Testing study, sponsored by the California Gas Emerging Technologies (“GET”) Program, has yielded impressive results. This study conducted by ICF has helped CLIR reach a milestone in its objective to drive decarbonization and increase operational efficiency, positioning it as a leader in the transition to cleaner energy.

ClearSign Technologies’ Boiler Burner Study Highlights

The study conducted by ICF evaluated the performance of CLIR's Core-Rogue Ultra low NOx boiler burner against a conventional ultra-low NOx Burner. 

The California GET Program analysis found that ClearSign Technologies’ Rogue burner outperforms the baseline mesh burner in terms of efficiency, fuel savings (3.3-4.7%), and electricity savings (7-25%) at ultra-low NOx levels (below 2.5-9 ppm). The Rogue burner outperforms at lower NOx levels, resulting in significant energy and cost savings.

CLIR’s Benefits From the Study

ClearSign Technologies'  innovative burner technology and impressive study results position the company for growth and expansion. 

The report's findings translate to significant cost savings and environmental benefits for customers. The company forecasts an annual savings of $80,000 in California energy expenses for a mid-size 500hp boiler, as well as a reduction in CO2 emissions of roughly 500 tons per year.

ClearSign Technologies Q2 Top Line Dips Y/Y

CLIR reported second-quarter revenues of $0.045 million, down 70% from the second quarter of 2023. The company reported an adjusted loss of 4 cents in the quarter, in line with the Zacks Consensus Estimate. Its adjusted loss was unchanged from that recorded in the year-ago quarter.

In the second quarter of 2024, the company closed the sale of its largest boiler burner, which was nearly twice the size of the previous largest single burner sold. CLIR plans to deliver the burner in the third quarter of 2024. Devco Process Heaters of Tulsa sold the burner, which will be installed in a new heater at a gas processing complex in central Texas.

CLIR’s Share Price Lags Industry

The company’s shares have lost 18.8% in the past year against the industry’s growth of 13.6%.

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ClearSign Technologies’ Zacks Rank & Stocks to Consider

CLIR currently carries a Zacks Rank #4 (Sell).

Some better-ranked stocks from the Industrial Products sector are Crane Company CR, Flowserve Corporation FLS and RBC Bearings Incorporated RBC. These three companies have a Zacks Rank #2 at present (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

The Zacks Consensus Estimate for Crane’s 2024 earnings is pegged at $5.07 per share. The consensus estimate for 2024 earnings has moved north by 6% in the past 60 days. The company has a trailing four-quarter average earnings surprise of 11.2%. CR shares have gained 75.2% in a year.

Flowserve has an average trailing four-quarter earnings surprise of 18.2%. The Zacks Consensus Estimate for FLS’s 2024 earnings is pinned at $2.76 per share, which indicates year-over-year growth of 31.6%. The consensus estimate for 2024 earnings has moved north by 4% in the past 60 days. The company’s shares have gained 27.5% in a year.

The Zacks Consensus Estimate for RBC Bearings’ fiscal 2025 earnings is pegged at $9.71 per share. The consensus estimate for 2025 earnings has moved north by 1.4% in the past 60 days. The company has a trailing four-quarter average earnings surprise of 4.7%. RBC shares have gained 27.2% in a year.

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