ClearSign Technologies (CLIR) 14 Nov 232023 Q3 Earnings call transcript

Good day, and welcome to the ClearSign Technologies Third Quarter 2023 Conference Call. [Operator Instructions] Please also note that this event is being recorded today. I would now like to turn the conference over to Matthew Selinger of Firm IR Group. Please go ahead, sir.

Good afternoon, and thank you, Operator. ClearSign third the conference XXXX to call. everyone, Technologies quarter Corporation results Welcome,

products market the XX, and with the will the responsibility Chief Officer. Brent ClearSign's actual September outcomes or filings be ClearSign call, make statements so.On of actual and The include, does the its risks are fact Except made conference to differ ended company uncertainties products and statement this beliefs discussion and Officer; to do XXXX. associated law, as by future the public today SEC, important ClearSign's results numerous During conference whether Chief described of be expectations, projections, cause with will on no on in statement. Report whether risks statements. to by includes in not call or and conference events Hinds, but completed, period from intend Form plans, expanding could Jim forward-looking with the periodic call to judgments Financial statement the the factors to, ClearSign's limited analysis company's forward-looking prospects. Annual risks that update a as this Executive will statements ClearSign forward-looking based assumes Form successfully including of required field on date reflect a these forward-looking me described successful not those the historical call subject These not ClearSign's Deller, of to is that in the risk Report this statements materially and This for section in and the are that testing of uncertainties XX-K are for and remarks are Quarterly are is Any the the statements. the XX-Q forward-looking and and in XXXX other sales quarterly

call to Hinds. Please over to point, Brent? turn CFO, would this the go I ahead. at So like Brent

Thank you, joining for you, today. thank Matthew, and everyone, us here

recognized to were SEC that With financial XXXX of The the revenues to overview driven $XXX,XXX in year-over-year revenue like XXXX of were California ongoing I Revenues to XX-Q shift burner for market X refinery in $XXX,XXX note million The company our our process for with third on from the I'd financials like in XXXX. the comparable I'd I'd compared XXXX. quarter to the $X.X year-to-date the the Form like the an results focus same were XXXX. period by large in Before give period that, during begin, projects.Now for of third earlier compared in cash. recognized to to today close. in increase $XX,XXX part after revenue filed quarter our

ended $X.X used in by $XXX,XXX XXXX. September quarter projects. driven refinery to for cash compared execution California the approximately costs net for $XXX,XXX the million This XXXX, project year-over-year related was our operations approximately was in to Our XX, same period increase

amounts of conference to are meaningful recognize before us of cash up set noted contracts calls, so in to as prior As we allow many revenues. collect our

As from cash will the collect to from statement. cash our us customers.Now these in focus we months to to hit will allow coming through we milestones work the more contracts, continue turning that contract income

for $X.X Our the which million, essentially third in comparable was net for the XXXX. approximately period loss XXXX in quarter is same the

change to approximately decrease which loss is to XXXX which for was predominantly improved approximately due in This sales year-over-year was due prior million, our year. net $X.X to profit, gross year-over-year decrease compared volume. year-to-date the Our $XXX,XXX

common Jim? XX.X the stock and to that, cash to Deller. call CEO, million of XX, $X.X September have of cash turn our shares over I'd XXXX, Jim we with As with in outstanding.And million equivalents, like

Thank you, Brent, for the financial overview.

joining for changing main on I everyone interest touch burners like us usual start review our As business this, ClearSign. will will call order, today's thank today product end are boiler the of And boiler the China our will I on in I with segments, line since call, your and first time. always, this at and On there. I'd to burners our

that, on include and hydrogen to which update Following I'll will I process both will call an on applications and high burners, typical process move projects what also developments.

start, of I couple like address. have I'd a to Before more items general I

just called personally of a This continue that him to of GET NOx interest. of burner technologies as the pass my early the that to to for of work behalf latest the And published dated thanks gratitude a Market Thursday August the Burner third best arise. his Gas features to and extend me, last gives had DiElsi, boiler unfortunately, his by stepped be want some Board and and burner technologies. Technologies, advisory to Emerging in you has our unavoidable on regrets or able be he I Gary prominently, Gary the to and burner item member, future.The commitments report XXth, ICF, some comparison he will Assessment Technologies titled and to Emerging ClearSign process will time ClearSign On aware Program, other and Firstly, Ultra-Low completed both second make wish consulting want by XXXX, and the Directors, has company who my party engagement of week, pass State for myself is California was down. help, his service do we not a that Director. I

ClearSign a regular flexibility therefore, levels, tremendous section purposely been under And burners the manufacturers tweaked boiler name.So findings to operational have burner beginning Rogue from the reviewing get ClearSign's developed -- report technology few also be a burner other using this Our core have ultra-low-NOx burner are has NOx flexibility. has ultra-low-NOx in the controlling burner, then the ClearSign quotes: exceptional the for boiler Rogue emissions. boiler and, quote, unlike to the purpose brand identified burner a who include

to to visits, During PPM were we operate burner NOx. site to the tweak sub-X the able close

this this completed home our extra turning behind attention. the we a said call burners because our significant will put the website.Now work of some start want page on lines. give some boiler first, have to to and this have on with product scenes report I link as We to

We and into discussed X We field. burner have deployments. first previously will California Texas. are X first our into X in as meaningful they These deployments the have X boiler sales our commercial be actually

business California As and for you posting was some operation. with oil week. the San up, partner, on California. some Control first may of This rental for is this.The horsepower in Valley was shipped LinkedIn of boiler and rental services sale company and global California This a the have set boilers seen into our This partner, is our sale, of Air first and conjunction regarding we Boiler, California was the XXX burner scope deployed in the from was Pollution Boiler. waste ClearSign outside up now our now California unit installed burner Joaquin to delays last Boiler or started District after down finally of medical

size understanding California burners. and are new sub that in This operations for requiring this upgrade are this are the a of at range awaiting was into and industries into if to of in partner, increase a of the building be and this X with third-party burner burner recycling horsepower burner under is completed, million in is Control truly needed.The provider is our boiler been and indicate of this which new with and verification second efficiency burner and the achieved, sold ammonia per sold believe that of into Boiler parts This This the the that for the it's reduce boiler boiler and food X,XXX is XG less currently the boilers Pollution will customer's is California yet largest have are has installed part also The bar new installed in and NOx new not of being customer's them.It's to noting sites. capital is Air resetting Joaquin restaurant we installation. capability go emissions, California. be part San both the construction.We ClearSign is larger energy as a NOx package this national an one than million boiler other to Hearst, services the the performance our being supplied District we solutions further Formal manufacturer a upgrade require believe The capability boiler. site will States. we United associated of burners. All market of new will but and boiler per handling was that recycling worth the inclusion costs of SCR new boiler plant in to installation California numbers preliminary combination Valley that an the production shipped parts X.X and that nationwide unique of our by

to chemicals Gulf Texas, included next The sale heater permit This Texas parts their third importantly, non-boiler and this required unit run company below and data into first needs. a installed NOx anticipate not collect first their attention. This preliminary the very burner of anticipate that in is we us customers' The be in manufacturer, region chosen into will in sector. Gulf burner it Coast heater valuable our particular, was first the this has and meet that X technology been solution a after This us And enabling Texas This as installation is fact doing to who a unique important be but significantly to in has chemicals our large boiler actually the the yet us. will is receiving in sale our California, our million we application burner significant in the reference level. boiler weeks. where we'll market full so, region. sale for operation, burner to a industrial provide into coming is the Coast was for per the

customer that this package provided is this fully manufacturer us once enable heater believe is opportunity manufacturer who also operational. now them, burners sales, burner has efficacy and both quote in first-hand will boiler heaters burner more they to Texas. ClearSign us. the will in Further, we boiler a we result our for and advantage Specifically, the to this the the that believe provide new of to will experience even end-user competitive have and sale heater for of Who which

significant, couple marketing albeit past some other customer Rogue burner X quote that for week, our is months, product we fact, we've of to this to asked In were line. last and projects subtle just the chasing.Over changes branding made the of this

believe I'm the expanding significantly today. throughout customer competitive be competitive we in different pursue excited regions. and you an that start Rogue to those and us SX assessing you is to of This NZN, Rogue to segmentation what see is needed of follow references For developing will market and the base And about who Rogue offering can beyond, result States is SX be burners. will what that United closely, the we

available, of control burner just and is Boiler us is SX any per states Los Tina million Rogue system, is already Angeles between collaborative provided the new parts SX I'm NZN of emission anticipate NOx an have seen in XXX outside in bed For landscape of and Relations this version to confusion, who horsepower.The with and development District that Tina for as that regions and the new and segmentation. channels Texas. given Combustion, Near built a This fully sales brings to Valley difference been or abbreviation which as we I work that the been capital do and and regions favorite in with efficiency have the The is our at core offering these ClearSign with region practice XXX customers are to fuel modified Customer last the which a segment may superior operating traction miss simpler is our and project the of to and distinctly has future. California. California distinctions instrumental and promotional I competition with needs. different the of controls targeted higher simplified have below, our Director equipment, and have appreciate and markets by the actual SX this but strategy together. ClearSign and more low has is alternative the have California. capable other core not our In Tina of materials through was different. anyone particularly sales channel outside focus, these our of in our project.While customers the all segment, SX notified alternative.The Rogue pleased is cleanup burners seem maintenance guarantees Development. to introduced XG there much albeit horsepower report leads us back-end to Driving a with main addition a and and competitive version call, rebranding approach And a targeted cathodic orchestrating where are aforementioned avoid joined California, like Business in Unachukwu, identified a truly are California takes subsidiary to with multi-burner boiler sales This the California expensive been NOx as management experience, awesome customers.On the provide Zero unit is into her changes X.X boilers in and than that provided results, and supplier we very smaller Rogue hit of orders in today, a gas And over X Boiler. California. subtle, we the operationally we vision burner at body a system, the on burner focused high-end [indiscernible] California partner, including name this burner and a

brought For the customers of detail, of our be letting fruition.Now these provide upgrade our some was why our with a enable out future Rogue attributes comply forward project work equipment. this back referenced that specifically a ClearSign selected are to requirement or a as proposal and to one China. opportunities update in I provide feedback a was they a ppm the quick customer when also in on burner X.X ability ppm capability simple offering. sub-X the the ppm major then know to This by segmentation sub-X our to us look to you their in in and asked to change without needed should explaining identified

the visit in phase officials to fabricated, to commissioning components required to the there due burner anticipated coordinate final Chinese able are but we has anticipate get this in we the time I we our longer unit stages than from look XXX and will believe admittedly are do performance the This horsepower full in We to end XXXX demonstrate burner to its year XXXX.Please this taken final of in to sell demonstration to formal very note originally through companies, early the boiler need some all domestic burners the being to forward the certification operating range. the China. in be be order go of government or around to Development issued the process emissions. foreign further burner Commission regulations and emissions. in to China's retrofit continue and savings, reduction to of China push the accelerate The China. improve energy equipment of Reform to COX National and guidance in harmful allowed

our to We capabilities in with particular, continue we and levels. have promote with local government the In to administration continue good work joint Shuangliang. Shenzhen at with engagements

at burdens. of just to engagements Tangshan parks and in Tianjin.Now engaged similar have follows spoke II SBIR previous the major work. of million Suzhou, for received the Nantong start the which industrial hydrogen the in strategic XXX% grant grant for and the we for was Energy general, X burner. outreach Phase to in and switching low from a $XXX,XXX, process We had grant have proof-of-concept NOx quarter, time in this of we This $X.X for award Last Phase the Department

customers and of operating have to is the or to will within to burners of COX of NOx critical of coincide economy the control both NOx. discussed, permits.As dioxide zone the and reduce is Or of reductions fuels fuel industrial required These in the oxides. hydrogen use to levels commercialization their enable outcome place transition second much will with the up hydrogen but highlighted X of is carbon burning anticipated and through for we available polluted new ground current adoption fuels current are of heating. range of the hydrogen the for below higher previously, the industrial areas. to full emissions emissions constraints years As enable we or hydrogen a the burners solutions the able hydrocarbon in control fund will to hydrogen to nitrogen development the the that to grant achieve and in of our The byproduct

enables per by NOx Phase heat X early compete burner pure call the million hydrogen additional to And of as or the an of last BTUs on X we process the saw burner, for high the where XX X X process September successfully the project. while well in integrate deploying next X announced we low burner SoCalGas, with done, to low of for million create it the technology. hydrogen design hydrogen Gas on parts testing. burner SCRs is additional are maintaining required first and and Southern up Company, mention will settings with in This below fabrication they second a that anticipated a and is the so demonstration to blending on industrial other the of hour of did range. novel million. completion Phase we now hour, size II BTUs parties for scheduling XXXX.We so funding the hydrogen are per phase of scaling per this and X that up parts from NOx California commercial collaboration emissions the over and real-world COX is the million entail Our burning prototype single-digit seeing interest years.The with this, for heels regarding our support as in from

Angeles of for Los our significant the organizations into technology hope to the the the be like receive part, our prepare on Southern to their an to of pipeline fuels is and burner and hydrogen that we to technology for us so their field. $XXX,XXX get by list customers hydrogen from with We portfolio largest turn, And to client burners. opportunities demonstration able exciting but system.On this on hydrogen SoCalGas infrastructure as our introductions vital the Angeles utilities. promoting is our key in help to the the sectors not front most with is bringing innovations fuel component will installation and proposed boiler latter pledged This pipeline that have we clean existing the products sites SoCalGas can opportunity rely development customers This help environmental only enabling collaborative they client operate technology.Turning and products designed by as In select in is is region, the course, companies to our can our project a the segment energy within burn market to partner a up fuel. grow relationship of like to and this nation's number the large efforts our by from present in of by California. to electrify capable could a to collaborative case, SoCalGas they X the Net meet developing demonstration Core and and process pipeline. other be providing can boiler SoCalGas, It space process the get hydrogen funded forward-looking could focused to meetings find a has technology projects that into heater their in the have their regions focus field that into been technology in is hydrogen that objective customers largely support of other able Ultra-Low which and these business end, project SoCalGas XXXX. of mandates has ClearSign their continue the them leverage system that them permits.SoCalGas To relationships access their green that at help projects their hydrogen develop in exciting to peers of of set on SoCalGas foster is NOx other working and to hydrogen the SoCalGas focus our the their to hard present achieve top green to to deliver Link, California a an they us of made our also their decarbonize economy. customers, so to of

that multi-heater orders are X have we We processing. multi-burner

actually is orders X tighter schedule. the these on of second The

in and the performance heaters for existing be year year. that order, May heaters. in quick contract we first events and they're back this due process, installed These is The to and burners received The And a to performance the week, are factory will of includes after reminder, X different recall, total. our these second into Year. is recognition. test trigger As the if for to you these went the X mid-October. fit this for revenue these due was these completed structures, of burners very this smoothly test shipped XX of heaters underway order are in which in and are burners burners manufacturing installed the be to this significant New the early now The scheduled

California.Additionally, we option testing this because order burners Southern system operate high statement was completed and a initiating very some and our customer to important, a included associated We complexities will also a this of will of feature both in completing feature system. NOx for installation that recollect, are ClearSign SCR, factory fuel customer technology from after significant may as with an alternative that a This the came base to is have is selective regulators.One is anxious in to such order an repeat believe is our back concentration this powerful successfully with mentioned catalytic early or as of air ClearSign, this the project make We get a reduction inherent very who on this traditional regional to the hydrogen. order a protocol. you and customer of install control adopter

progressing time XX other less but is also project The line. on tight California burner

and purchase scheduling. in shutdowns, are dependent included our is refinery factors.We lot confirmation whether there installed As or be on in mind we which many indicated of witness in plans not will we site these testing run planned. these before, as not burners payment able the the and and for this purposes the witness will burns be will so the previously, burners clients' in customers part demonstration used a not that invoice delivery stated At stakeholders. Bear potential until and dependent have upon be during is the of final California. small only undertaken These the shutdown a remain to have of do receive went be installation.As kept to the burners production process we complex shipment demonstration will time, XXXX part in final order and so will XXXX included be this will are activities planning for the of

demonstration coming We planned months. have customer for the events

see growing Texas these we from customers pipeline Beyond the projects, do a and encouragingly a in region. growing Coast interest Gulf

in is last As we and Chief want we and required to leading who with very through refer He energy we more XX in in equipment also that the of need to at computer-based or the the upgrades equipment a that recognized not recently, predictions and [indiscernible] has fence, do and technology of for particularly said But give operational, is future He deliver experts a cost-efficient able Martin watching for past, be on insight fire known we X, Matt of operational announcing opportunities most ClearSign Matthew is sure will for anyone joined may industry over for week, combined are SCR.Most some of the Matthew an to excellence and anticipate technical in on Officer. a assessing units, needs of background who in and that and his ClearSign. field the His as when the alternative related to and field. who this into to this have orders. one ClearSign these he much And technical include that considering I customers acumen business him believe creativity, installing of his issued not, Technology fire us modeling at industry, just customers burner is multi-burner those combination options fully these other I'm release worked the their so. for systems, technical to value role give spent being they covering a in to has the introduction. refining entire November press the are field time. the and lot have to and no his career Martin the markets development that energy who and larger years when time, exceptional. equipment the them market with strong has assessing improving available.I Matthew confidence

multiple new role. would as want strong company of world-class ClearSign. size, a working about for of he a someone his with at to in and in rare rigid. you press very very an our expect is very little collaborative background release see Everyone technical very his at ClearSign and extraordinary their distinction anyone I us is in team to protocol more who all our us. of as have his the opposed being industry, accomplishments formal in While responsive recognition wears appointed already There hats engineering his We at to being have fellow did it.I and am join the Honeywell, contributions. and of so excited to ClearSign Matt had with the talent supporting are It encouraging magic our talk have at lines, the redirect not career join and product details

input Matt's be of and expertise growth So products and is objective our across will additive projects. focus ClearSign. to Matt's the on all But

successfully burner and and that additions taking particular his expand that Tina achieve at world-class capability burner look equipment efficiently with of the believe, is fired to truly in operate have resources for ClearSign offerings and with business in we progression to heaters At optimistic higher to, the and business As Texas our installed bringing ClearSign new regimes. customers' team to a very these to and into the expertise operating ClearSign and and needs, technical Unachukwu, technologies.I'm technical the installation I is forward talent we a boiler Matthew management heater in step of now level, diverse to to and simulate considerable low-emission of development in outcomes have sales chemicals more generally, addition future meaningfully and to of where extrapolating a in talent in a the an opportunities adapting a provides to back current our looking types different other applications expand a the our recent objective business capability example, takes more focus, possibilities her ClearSign process opportunities strong already and Martin his very burner talent.Take opportunity-focused beyond ClearSign.

to Looking that startups the on immediate and most are events forwards, be will horizon. important are our key our The so there sales installations growth.

California, per last verification. in We million independent X emissions now burner have the horsepower, week, awaiting commissioned parts XXX

We installation parts X.X sub District the horsepower the month base boiler in of the San Gulf list. Control and with process a of XXX very process next waiting supply replacement installed and of have startups burner of and Pollution opportunities heaters per process on the piping our that other transform waiting Joaquin early and significantly, Coast, anticipated XXXX.These the the And the X refinery our on start-up of and chemicals start-up reference outside quote a in verification. boiler on performance to in several Texas California million component burner And just Air Valley at the horsepower X,XXX will California. burners installation plant a system heater a and

up by to lines And I'd with to We working product both products and product opportunities develop engaging boiler questions. our for call that, opportunities.With our very burner progress opportunities burner process like particularly an recent Matthew the network open I'm Martin, enabled and and to extensive looking in California. and promoting of our term, eager have much into diversifying project.Longer sales burner boiler both Please, with forward in Operator? industry out segmentation line to I'm

will [ Eric here And private question Gruskin our ] investor. from Instructions] first come a [Operator

lot the prospects boiler But flame you can also You in process new those the you burners. about product, cameras talked hydrogen about capacity. burners perhaps could the talk this a and rank terms and and for -- burners sales of firetube new fuel the

Certainly, mean, and and some some color clarification. give I around more those

seen of that on has the from that range, tend X Burner, water be which opportunities, tube. of range there's -- project at Boiler the immediate segmentation of But the I we the to the the main terms have of would the a The outside. boilers response one that sold focus subject to worked types with sales partner, so the are I to we in most or boilers Boiler the products be start burners, boiler rolled referenced is fit these the I the now boilers, we've our the with The of end fire are of that which into in think date that making California you the to the California actually that United since within I'll Rogue So boiler firetube and end mentioned basically, we our and larger this project was that relevant and of the range smaller are and products, branded tube, address firetube the those typically that focus in collaboration project boiler made smaller And the California products sales burner out, major response they segmentation focus both as to definitely all areas very time. and of for time outside. the States, are short our and a the the the us.

that got process following that in be segmentation much major a from started we've and for burner the also in burners. from firetube other burner start-ups amongst customers up being a line. on other larger And resulting the is We end started the due of burner boiler the California One all bidders Those products I of heater segmentation. favorably product the year. the have of immediate line then lines. Texas indications that that seen process to last ClearSign another around product down second are the was that's week, one there's just boiler component, boiler that and referenced, is one in waiting X the The actually

to focus So of mentioned, gas And the emphasize term, the Longer would has we're on one, firetube I hydrogen those into development fuel the the burning bigger who and and that, really of the all fuel the just course, needing hydrogen you of boiler potential. us But to XX% created. burners. whenever and watching percentage the even NOx pipelines hydrogen be a has to on to to range influence try influence economy smaller the add a is is circular equipment systems enormous discussed that got hydrogen been hydrogen introduction the customer region burn may is very of has that XX% a what in and gas, for large hydrogen. in obviously, typical

up You NOx. may by the XX% put the NOx doubling to

control hydrogen many Narion for was a Seattle. burner, are address have SBIR [indiscernible]. NOx opportunities. out as levels believe topic of introducing way is we have client completing address the the are is but a to That is the ClearSign steam that present new out, and that we big -- project a the potential the What also which really need to very longer market. if So a recently, burners. put that's announced is a Narion I other but a a them to sensor. $XXX,XXX industrial believe we to And I mentioned The in biggest Narion is much will under we unique. These ClearSign flares. develop great know creating just called recipient pursuing work have their really in to further most efficient we ClearSign That's well. over operating lower range is And we Narion going mentioned the the sensing sensor focus the require flow promoting that, that which with there's permit, grant and we the promoting technology prospects in big the you based to currently government of fuel that. of NOx was you The that company a gas also the partner just in that put is in the And boiler for their last as reasons not products. grant and them

from question Instructions] Colinas Kecseg [Operator Management. with Capital next will Las Our come Robert

flow orders before Yes. at wondering end the we'll and believe Do balance the some next need calendar anticipation into get the next the public cash the year $X flowing more the I any year about you the do sheet and you before of quarter on in. was that's shown that of dilution cash million financing. these with the -- into the

you questions. Thank for Yes. the

Our we now. healthy right it. We're with is balance sheet, felt comfortable

cash projects those We have those coming from projects. in come and and working cash from we're on projects that to

And are the the color some revenue of revenue watching the about, months add to testing typical revenue. the will lead the projects the that, trigger to milestones, these right? process The talking typical to we burners, we've burners boiler The by -- everyone's and about of significant just the that exactly burners, also recognition? but delivery -- -- be next the installation drive there to significant of today. the got we're the on the I the some Bob, are ones talked up revenue are the that that but X will start specifically, milestones know in milestones few is happening projects recognized the

Feinglass, next And our question come will private investor. a from Jeff

you hoping too -- the could this for And you after it's I soon at as was a the But as I you bit speculative point, could can what certification getting Jim, China. maybe that? you speak next specifically, but relatively sales? far boiler. the expand prospects mentioned of XG on that on steps are mean,

you at see, but will this I Hi would this time, obviously I what speculative. can. question. the I I appreciate just is I tell very Jeff. certainly, this but Yes, preface

are been process to boiler mentioned, We like Jeff, those the certification the following, we the burner the -- are as I in in that California. followed know soon of haven't. I government completing run-in by -- you've be of for XG but the XXX-horsepower

package with the our key through integrated an called calling we're This market. in into enormous agreed with is of we've biggest in is strengths Shuangliang. truly our China be to in alliance their Chinese their them partnership XG what is interest company. manufacturer provide boiler what may a China And our and ClearSign One what boiler burner

these heating. manufacturer was the but Shenzhen the XXX is the the to opportunity. are we to outreach and being achieve Chinese industrial the new undertaking governments a local areas is Chinese this Tianjin with this the within and out a The on district partner incorporating a previously, ClearSign is horsepower used is I focused exciting These following we to them, product, heating, of the they industrial new able details it's year-round. like seen boilers, In northern was the and is that's have Beijing, the not are Chinese and industrial being very and then with China. we're heating along certification national regions, by out the down are regions Whereas a report, NOx industrialized especially regions in don't years, now pursuits large to So a company prominent the governments we shift driving XG being industrial development bad focus the local are heavily complete where the regions and sales me, NOx regulations and in to within Suzhou, path very notoriously that the that truly In requirements air rolled place, and and China. are with that are market the burner in heavily around boiler And populated seasonal levels recent This of have that are rolled boiler all industrial that the in the government. Shuangliang Chinese low of a regions we've the still the large cities. on developing that scale in as China these any Nantong mentioned parks. call, to those I really but burner. in

Brad will question private a next from Van Our come ] [ Ducker investor.

price on a the as to anything the on is maintain market corner or it is, the where question up turn up? My the stock What up and up, getting the fact shares and interest the is your it. seem really we that company cap prices with investor and low, are long-term the remain of investment the thoughts stock can't

control our I the can Brad, side before, of in but for out. of not confidence reference I that what And but the the I color. my the the into projects people and pay. we're really give That's to orders. said know give me getting control. really let of company the flows reinforce that can't customers for comment news in everyone, you price placing the and and field of in importance equipment and at out and progress a to the absolute share obviously hopefully the bit them I've our market in those having see But

out. to boiler In past a plans already XXX-horsepower California the week, up had Boiler for It's same to boiler in in have making as our them for week, control this and that NOx California. that contact project visit absolutely look critical at team and this go equipment customer California. equipment preparation we started reference get in sales with it Just we XG one their

and boilers may been X have down process be one year. Texas or up in quote got startup come year that ]. in And have us addition, for who more starting for in that back We we waiting burners quotes or for burner for requests to has chasing. into manufactured manufacturer [ on to one to heater projects for us that big the asked they rolling slightly heater next California quotes already We've that are this come the X

leverage finally for to show people and we like do. like to stress absolutely development, right it's on my focus the and ClearSign board that can I products everyone of important exercise cannot looking to looking base the these the into the is then segmentation know Tina the forwards really -- perspective, what So are job and growth so our that when ClearSign just out and how have world we leverage get ask Matthew at on -- you field do and units from I getting right, to can installed

you I number Yes. installed. when out remember in can inquiries we it. out the the I that and first But the any XXs, came didn't think have was, boilers quoted into there of

So you we're the seeing across now line orders. start we'll come things installation with that that finish think getting

just talked the to to interest based I past the so, and truly seeing see months, we've want I then on people see the and -- equipment just with about in both seen this targeting few the what just right segmentation And Brad. and that project installed. believe the that

Just that this to of clients background, an in and in always And to burner reference your industry, where XXX horsepower list. the process background immediately the see up. coming my previous I quoted is the week the example customer past reference ask the where's operation my burner asking well,

is believe, to us. get for be putting us for -- key references together, So absolutely our finally I

or me I withdraw once the think I product been been everything that installed customer to for is thing in seen has not it's anything, failure a that had encouraging successful. a have has that a

patience. So I but investor the a just think as faster, it's company, a and believer things I in an understand frustration that aren't long-term picking up

this the remarks. concludes like our for turn closing I'd over session. to And question-and-answer conference back Jim Deller any to

everyone. you, Thank

today. participate your next As on and our you with the call. look to speaking you We interest always, developments our to time taking forward regarding updating and

now concluded. has Thank for conference The today's you attending presentation.

You may now disconnect your lines.