ClearSign Technologies (CLIR) H.C. Wainwright 28th Annual Global Investment Conference summary

Industry overview and regulatory drivers

• Pollution control is a critical need for oil refineries and petrochemical plants due to tightening EPA and local regulations, especially as hydrocarbon consumption and population grow.

• Compliance with emissions standards is increasingly costly, with traditional solutions like SCR systems costing up to $500 million for large refineries.

• The market for low NOx combustion technologies is estimated at $1.2 billion globally, with an addressable market for the technology at $300 million per year and an obtainable market of $100 million per year.

Technology and product offerings

• Specializes in combustion equipment that reduces emissions at the source, offering process burners, midstream burners, and flares.

• Process burners are highly customized, with project cycles of about two years and values between $1.5 million and $3 million.

• Midstream burners are standard products with shorter cycles (3–6 months), while flares are sold as complete systems, typically $750,000–$1.5 million, with cycles of 6–12 months.

• Demonstrated ability to displace SCR projects, offering significant cost savings (e.g., $10 million vs. $50 million for a California refinery).

Recent projects and operational traction

• Active projects include a 26-burner installation on the Texas Gulf Coast and a California refinery project expected to save $40 million.

• M-Series burners have seen strong sales in the Permian Basin, with emissions performance exceeding requirements.

• Flare systems have achieved emissions well below regulatory limits, with additional orders and permit applications in progress.