Type Public Website clearsign.com Founded 2008 | Traded as NASDAQ: CLIR Headquarters Washington, United States Number of employees 16 | |
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Key people Stephen Primat, chief executive officer Net income US$-5.29 million (2014) Stock price CLIR (NASDAQ) US$ 3.73 +0.02 (+0.68%)6 Mar, 4:00 PM GMT-5 - Disclaimer | ||
ClearSign Combustion (ClearSign) is a United States-based company that develops emission-control technology.
Contents
Products
ClearSign develops technology intended to increase energy efficiency and emissions standards of combustion systems, primarily industrial and commercial boilers and furnaces. Its products include Duplex Burner Architecture, which the company says reduces combustion burner flame length by more than 80-percent, in turn increasing thermal capacity and reducing operating costs. Duplex Burner Architecture won the "New Technology Development of the Year Award" at the 2014 West Coast Oil & Gas Awards. The company's other major product is Electrodynamic Combustion Control, which uses computer-controlled electric fields to control the flame shape in boilers, kilns, and furnaces, preventing pollution from forming.
History
ClearSign was formed in Seattle, Washington in 2008. Its first chief executive officer was Richard Rutkowski, who also became chairman of the board of directors. Rutkowski was a co-founder of projection technology company Microvision and nanotechnology company Lumera.
In 2012 ClearSign held an initial public offering which, according to the company, raised $13.8 million. ClearSign chose to delay adopting accounting standards required of publicly traded companies under the Sarbanes-Oxley Act, taking advantage of exemptions in the JOBS Act designed to make it cheaper for development-stage companies to raise capital. It is believed ClearSign may have been the first company in the U.S. to do so.
In December 2014, Rutkowski resigned as CEO. He was replaced by board member Stephen Primat. The following September, the company was named "Technology Company of the Year" by Petroleum Economist.