ClearSign provides Q2 update

ClearSign provided an update on operations for Q2. The company received the initial engineering order from engineering and heater manufacturer Birwelco USA with a total of 26 ClearSign Core burners to be installed in the Gulf Coast facility of a Fortune 500 global chemical company. The company received an order of the largest boiler burner ClearSign has sold to date. The company expects to deliver the burner in the third quarter. ClearSign appointed both David Maley and G. Todd Silva to its Board of Directors. The offering and concurrent private placement of common stock and warrants offerings and participation right resulted in gross proceeds of approximately $9.3M and $4.3M, respectively. Start-up of second multi-burner heater at Kern Energy follows the successful installation and start-up of the first eight-burner heater in January. ClearSign received two additional purchase orders to complete the detailed engineering of burners for the retrofitting of two more process heaters in the California refinery for a total of four burners. Cash and cash equivalents were approximately $16M as of June 30.