TULSA, Okla. - ClearSign Technologies Corporation (NASDAQ:CLIR), a company specializing in industrial combustion and sensor technologies, has influenced the establishment of new Best Available Control Technology (BACT) emissions limits. The South Coast Air Quality Management District (SCAQMD) in California has utilized data from ClearSign's operational client installations to update BACT guidelines for single and multi-burner configurations.
On February 2, 2024, the SCAQMD board approved these new BACT determinations based on recommendations from a Scientific Review Committee, which includes regulators from SCAQMD, the California Air Resources Board (CARB), the Environmental Protection Agency (EPA) Region 9, and industry representatives. The BACT guidelines are a key component of New Source Review in the permitting process for new or modified emissions sources.
ClearSign's CEO, Jim Deller, Ph.D., stated that the incorporation of the company's burner technology performance in setting new BACT limits serves as an acknowledgment of their technology's effectiveness in emissions control. The revised BACT limit for boiler burners greater than 500hp has been set at 2.5ppm NOx, a standard that ClearSign's technology meets without the need for additional equipment such as selective catalytic reduction units, offering a more cost-effective solution.
BACT is periodically updated to reflect technological advancements and to ensure that equipment uses the most efficient technologies. These guidelines are based on the technical feasibility for each class and category of source and are published by the SCAQMD for commonly permitted equipment.
ClearSign designs technologies aimed at enhancing the performance characteristics of industrial systems, focusing on operational efficiency, energy savings, safety, and emission reduction. Their patented technologies are integrated into OEM products and are used in various markets, including energy production, refining, and transportation.
This news is based on a press release statement from ClearSign Technologies Corporation.
InvestingPro Insights
ClearSign Technologies Corporation (NASDAQ:CLIR) has recently been in the spotlight for its significant contributions to environmental standards, particularly in the industrial combustion sector. As investors look at the financial health and potential of ClearSign, certain metrics and analyst insights from InvestingPro stand out.
The company holds a market capitalization of $38.57 million, reflecting its position within the niche of the industrial combustion and sensor technologies industry. A notable strength for ClearSign is its cash position, as it holds more cash than debt on its balance sheet, providing it with a degree of financial flexibility. Additionally, the company's liquid assets exceed short-term obligations, indicating a strong liquidity position.
Despite these strengths, ClearSign faces challenges. It is currently trading at a high Price / Book multiple of 6.49 as of the last twelve months ending Q3 2023. This suggests that the market may be pricing in future growth expectations or that investors see value in the company's technology and potential market share. However, the company has not been profitable over the last twelve months, and analysts do not anticipate it will be profitable this year. Moreover, the stock is known for high price volatility, which could be a consideration for risk-averse investors.
On a positive note, analysts anticipate sales growth in the current year, with revenue growth reaching an impressive 211.9% over the last twelve months as of Q3 2023. This could reflect the increasing recognition and adoption of ClearSign's technologies in the market, as well as their potential to meet new regulatory standards like those recently adopted by the SCAQMD.
Investors interested in a deeper dive into ClearSign Technologies Corporation can explore additional InvestingPro Tips, with a total of 11 tips available, including insights on valuation multiples and profitability forecasts. These tips can be accessed through InvestingPro's platform at https://www.investing.com/pro/CLIR. To gain further insights and save, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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