Benzinga | Sep 3, 2021 08:34AM EDT

ClearSign Technologies Corporation Announces Notification Of Hold For ExxonMobil Project

ClearSign Technologies Corporation (NASDAQ:CLIR) ("ClearSign" or the "Company"), an emerging leader in industrial combustion and sensing technologies that improve energy, operational efficiency and safety while dramatically reducing emissions, announces that it has received a verbal notification from ExxonMobil to put on hold the testing of its ClearSign Core(tm) process burners to be installed at the Baytown, Texas refinery. The rationale for the notification was that there is now insufficient time for ExxonMobil to engineer their inclusion during the targeted 2022 refinery turnaround.

"We were informed late yesterday on a call that ExxonMobil was putting this project on hold," said Jim Deller, Ph.D., Chief Executive Officer of ClearSign. "This news was a surprise and obviously disappointing. We believe that we have met all of the necessary qualifications and were looking forward to completing the final product demonstration and subsequent installation in Baytown. Although these burners would have been but one of our growing number of installations, we were particularly excited about demonstrating the capabilities of these burners because of the extensive operating flexibility we have developed to meet the expansive needs of the ExxonMobil refinery while also showcasing ClearSign Core's unique ability to greatly reduce NOx emissions technology," concluded Dr. Deller.

As a reminder ClearSign will hold its previously announced investor call on Wednesday, September 8, 2021 at 5:00 PM ET. Investors interested in participating on the live call can dial 1-866-372-4653 within the U.S. or 1-412-902-4217 from abroad. Investors can also access the call online through a listen-only webcast at https://www.webcaster4.com/Webcast/Page/987/42573or on the investor relations section of the Company's website at http://ir.clearsign.com/overview.