ClearSign Technologies (CLIR) Water Tower Research Insights Conference summary

Business overview and technology

• Sells low emissions combustion equipment, primarily burners, to major oil refiners and petrochemical plants, operating with an asset-light model through partnerships like Zeeco.

• Maintains a strong and expanding IP portfolio, with recent traction and large orders from major oil refineries, especially in Texas and California.

• Quote backlog has significantly increased, indicating growing demand.

Regulatory and market drivers

• Demand is driven by NOx regulation, not carbon policy, with regulations tightening in key markets and spreading internationally.

• Ongoing need for cleaner combustion equipment as industrial activity and hydrogen blending increase NOx emissions.

• Low NOx requirements are expanding beyond California and Texas, with applications in Europe.

Competitive differentiation and cost advantage

• Technology eliminates NOx at the source, avoiding costly SCR systems and offering significant customer savings (e.g., $7–10M vs. $50M for SCR).

• New Gen 2 flexible fuel burner handles a wide range of gases, including high hydrogen content, meeting the latest NOx standards.

• Flexible burner platform enables adaptation to various heater configurations, expanding addressable markets.