ClearSign Q2 update: $16M cash, largest burner order, 26-burner project, board changes

ClearSign Technologies Corp

Received initial engineering order for 26 ClearSign Core burners for four heaters at a Texas Gulf Coast petrochemical facility (Fortune 500 client, partner Birwelco USA).
Sold largest boiler burner to date (~90 MMBTU/hr) to Devco Process Heaters for a Texas gas processing plant; delivery expected Q3 2024.
Closed public offering and private placement with gross proceeds ~$9.3M and ~$4.3M respectively; cash and equivalents ~$16M at June 30, 2024.
Successful start-up of second multi-burner (5-burner) heater at Kern Energy refinery; emissions below guarantee; engineering orders for two more heaters (4 burners total).
Board appointments: David Maley and G. Todd Silva joined Board; Silva replaced Robert T. Hoffman Sr. as clirSPV LLC designee.

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