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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported):
August 29, 2023
CLEARSIGN TECHNOLOGIES CORPORATION
(Exact name of registrant as specified in Charter)
| Delaware |
|
001-35521 |
|
26-2056298 |
|
(State or other jurisdiction of
incorporation) |
|
(Commission File No.) |
|
(IRS Employee
Identification No.) |
8023 E. 63rd Place, Suite 101
Tulsa,
Oklahoma 74133
(Address of Principal Executive Offices)
(918) 236-6461
(Issuer Telephone number)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions (see General Instruction A.2 below).
| ¨ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR240.14a-12) |
| ¨ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)). |
| ¨ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13(e)-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class |
|
Trading Symbol(s) |
|
Name
of each exchange on which
registered |
| Common Stock |
|
CLIR |
|
The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange
Act of 1934 (§240.12b-2 of this chapter).
| Emerging growth
company ¨ |
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act. ¨
Item 8.01. Other Events.
On
August 29, 2023, ClearSign Technologies Corporation (the “Company”) issued a press release announcing that it was awarded
a Phase 2 government grant through the Small Business Innovative Research program with the Department of Energy (the “Phase 2 Grant”).
The Phase 2 Grant was for the maximum amount of up to $1.65 million for a two-year duration, which the Company intends to apply to the
development of ultra-low NOx hydrogen burner technologies. The Phase 2 Grant follows the successful development and demonstration of a
ClearSign Core™ Ultra Low NOx burner fueled with 100% hydrogen, which was funded by the Phase 1 grant amount of $250,000. A copy
of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.
Cautionary Note
Regarding Forward-Looking Statements
The
information contained in this Current Report on Form 8-K and the exhibits attached hereto contain “forward-looking” statements
within the meaning of the Private Securities Litigation Reform Act of 1995. The words “intend,” “may,” “should,”
“would,” “expect,” “plan,” “anticipate,” “believe,” “estimate,”
“predict,” “potential” or “continue” or the negative of these terms or other comparable terminology
are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking
statements are statements that are not historical facts. Such forward-looking statements are not guarantees of future performance and
are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained
herein due to many factors. With respect to the matters addressed in this Current Report on Form 8-K, those factors include, but are not
limited to the likelihood that the Company will be able to successfully complete the ultra-low NOx hydrogen burner development
project funded by the Phase 2 Grant, general business and economic conditions, the performance of management and the Company’s employees,
the Company’s ability to obtain financing, competition and whether our technology will be accepted and adopted.
While the Company believes its plans, intentions and expectations reflected in those forward-looking statements are reasonable, these
plans, intentions or expectations may not be achieved. The Company’s actual results, performance or achievements could differ materially
from those contemplated, expressed or implied by the forward-looking statements. For information about the factors that could cause such
differences, please refer to the Company’s filings with the U.S. Securities and Exchange Commission. Given these uncertainties,
you should not place undue reliance on these forward-looking statements. The Company assumes no obligation to update any forward-looking
statement.
Item 9.01 Financial Statements and
Exhibits.
(d) Exhibits.
SIGNATURE
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this Current Report to be signed on its behalf by the undersigned
hereunto duly authorized.
Dated: August 29, 2023
| |
CLEARSIGN TECHNOLOGIES CORPORATION |
| |
|
|
| |
By: |
/s/ Colin James Deller |
| |
Name: |
Colin James Deller |
| |
Title: |
Chief Executive Officer |
Exhibit 99.1
ClearSign Technologies Corporation
Awarded Phase 2 Grant from Department of Energy
to Commercialize a Flexible Hydrogen Fueled Ultra Low NOx Process Burner
TULSA, Okla., August 29, 2023 -- 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, today announces that the Company was awarded
a Phase 2 government grant through the Small Business Innovative Research (SBIR) program with the Department of Energy (DOE).
This project is being funded by a government grant through the SBIR
program with the DOE to support scientific innovation in clean energy development and climate solutions. This second grant award follows
the successful development and demonstration of a ClearSign Core™ Ultra Low NOx burner fueled with 100% hydrogen, which was funded
by the Phase I grant amount of $250,000. This Phase 2 government grant award was for the maximum amount of $1.65 million for a two-year
duration, which the Company intends to apply to the development of ultra-low NOx hydrogen burner technologies.
"This project has been a great place for us to be able to highlight
the capabilities of our ClearSign Core™ technologies,” said Jim Deller, Ph.D., Chief Executive Officer of ClearSign.
"Adding hydrogen to fuel gas increases NOx emissions, which are toxic, regulated, and limited by the operating permits of our customers.
We do believe that in providing the Ultra-Low NOx 100% hydrogen capable burner technology, which is the objective of this Phase 2 grant,
we will promote clean air and enable the adoption and growth of the hydrogen economy while enabling our customers to maintain compliance
with their low NOx emissions requirements. We appreciate the opportunity that the DOE provides us with this Phase 2 grant, and the ongoing
collaboration with worldwide burner supplier Zeeco Inc. that enables us to pursue projects of this scale.” concluded Dr. Deller.
The goal of this project is to develop ultra-low NOx hydrogen burner
technology, which the Company believes will enable the adoption of hydrogen fuel for industrial heating, leading to reductions in the
industrial emissions of both carbon dioxide and nitrogen oxides. Current burners and previous efforts to decarbonize industrial combustion
processes through the utilization of hydrogen fuel are inhibited by the lack of industrial hydrogen burners capable of burning pure hydrogen
while preventing additional Nitrogen Oxides (NOx) emissions.
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, the likelihood
that we are able successfully complete the ultra-low NOx hydrogen burner development project funded by the Phase 2 government grant, 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.
For further information:
Investor Relations:
Matthew Selinger
Firm IR Group for ClearSign
+1 415-572-8152
mselinger@firmirgroup.com
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