TULSA,
Okla., Nov. 7, 2023 /PRNewswire/ -- ClearSign
Technologies Corporation (Nasdaq: CLIR) ("ClearSign" or the
"Company"), an emerging leader in industrial combustion and sensing
technologies that improve energy, operational efficiency and safety
while dramatically reducing emissions, announces the hiring of
established industry veteran Mr. Matthew
Martin as Chief Technology Officer.
"We are excited to have Matthew bring his vast experience and
expertise to our team," said Jim
Deller, Ph.D., Chief Executive Officer of ClearSign. "In
addition to his deep industry knowledge and technical prowess, Matt
has astute business acumen and experience in product positioning
and identifying opportunities for business growth. Matt has
well-founded respect throughout the fired equipment and combustion
industry, and his addition to ClearSign's technical and leadership
team is a key component in our evolution as we broaden the
applications of our unique ClearSign Core technology into new
markets and verticals. Matt will be instrumental in helping
further develop and grow our business in the rapidly evolving
global energy industry." "I have worked with Matt in previous years
and have firsthand experience of his capabilities. I am delighted
to have Matt join us at ClearSign and very much look forward to
growing our business with him as part of our team," concluded Dr.
Deller.
Mr. Martin has over 20 years of experience in combustion-related
industries, with a strong foundation in product development,
business development, sales, and marketing. Before joining
ClearSign, he served as the Chief Research Scientist at XRG
Technologies, LLC. In this role, he played a pivotal part in
developing and launching innovative technologies that reduce NOx
emissions, promote CO2 reduction, and enhance heat transfer. During
his tenure at Honeywell from 2009 to 2018, he held various
positions, including Senior Product Line Manager for Burners,
Flares, Flare Gas Recovery, and Thermal Oxidizers, consistently
introducing at least one significant product annually.
Additionally, he managed the CFD group as a profit center, where he
also designed burners, flares, thermal oxidizers, and SCRs. From
2000 to 2009, Mr. Martin worked at Callidus Technologies L.L.C. in
roles such as CFD Analyst, Design Engineer, and Software
Developer. He was formally appointed an Engineering Fellow
during his time at Honeywell. Mr. Martin is the inventor or
co-inventor for over 25 patents related to combustion, heat
transfer, sensors, and data analysis for combustion. He holds a
Bachelor of Science degree from the University of
Tulsa.
In connection with Mr. Martin's hire, on November 6, 2023, the Company, granted
non-qualified stock options to purchase an aggregate of 150,000
shares of its common stock. The options were approved by the
compensation committee of the Company's board of directors and were
granted as a material inducement to Mr. Martin's entering into
employment with the Company in accordance with Nasdaq Listing Rule
5635(c)(4). The options have an exercise price of $0.91 per share,
which is equal to the closing price of the Company's common stock
on November 6, 2023. The options will vest in three equal
installments, with one third of the options vesting on the grant
date, and each remaining third of the options will vest on the
second and third anniversaries of the grant date, respectively,
subject to Mr. Martin's continued employment with ClearSign on such
vesting dates.
About ClearSign Technologies Corporation
ClearSign Technologies Corporation designs and develops products
and technologies for the purpose of improving key performance
characteristics of industrial and commercial systems,
including operational performance, energy efficiency, emission
reduction, safety and overall cost-effectiveness. Our patented
technologies, embedded in established OEM products as ClearSign
Core™ and ClearSign Eye™ and other sensing configurations, enhance
the performance of combustion systems and fuel safety systems in a
broad range of markets, including the energy (upstream oil
production and down-stream refining), commercial/industrial boiler,
chemical, petrochemical, transport and power industries. For more
information, please visit www.clearsign.com.
Cautionary note on forward-looking statements
All statements in this press release that are not based on
historical fact are "forward-looking statements." You can find many
(but not all) of these statements by looking for words such as
"approximates," "believes," "hopes," "expects," "anticipates,"
"estimates," "projects," "intends," "plans," "would," "should,"
"could," "may," "will" or other similar expressions. While
management has based any forward-looking statements included in
this press release on its current expectations on the Company's
strategy, plans, intentions, performance, or future occurrences or
results, the information on which such expectations were based may
change. These forward-looking statements rely on a number of
assumptions concerning future events and are subject to a number of
risks, uncertainties and other factors, many of which are outside
of our control, that could cause actual results to materially
differ from such statements. Such risks, uncertainties and other
factors include, but are not limited to general business and
economic conditions, the performance of management and our
employees, our ability to obtain financing, competition, whether
our technology will be accepted and adopted and other factors
identified in our Annual Report on Form 10-K filed with the
Securities and Exchange Commission and available
at www.sec.gov and other factors that are detailed in our
periodic and current reports available for review
at www.sec.gov. Furthermore, we operate in a competitive
environment where new and unanticipated risks may arise.
Accordingly, investors should not place any reliance on
forward-looking statements as a prediction of actual results. We
disclaim any intention to, and, except as may be required by law,
undertake no obligation to, update or revise forward-looking
statements to reflect events or circumstances that subsequently
occur or of which we hereafter become aware.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/clearsign-technologies-corporation-announces-hire-of-matthew-martin-as-chief-technology-officer-301979730.html
SOURCE ClearSign Technologies Corporation