Technology
ClearSign Technologies Corporation Provides Second Quarter 2024 Update
Published
2 years agoon
By
TULSA, Okla., Aug. 21, 2024 /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, today provides an update on operations for the quarter ended June 30, 2024.
“The ClearSign business has advanced on multiple fronts during the past few months, including significant new orders, new product development and increased engagement with customers and industry stakeholders,” said Jim Deller, Ph.D., Chief Executive Officer of ClearSign. “Our installation base continues to grow, and we are now receiving orders from larger global collaborators and operators, as seen with our most recent initial engineering order relating to the first phase of a 26 burner project. It is also encouraging that many of our orders are from third party intermediaries whom are sales conduits themselves. As a strategic marketing initiative, we have just completed a large product demonstration to industry leaders at the facilities of our partner Zeeco for our process burner line and we have an upcoming event in California next week to unveil independent data on emissions performance and fuel savings, or CO2 reduction, from our boiler burner line. Lastly, we are seeing additional states like Texas and Colorado in the process of reducing allowable NOx emissions,” concluded Dr. Deller.
Recent strategic and operational highlights during, and subsequent to, the end of the second quarter 2024 include:
Announced Order for Multi Heater Project for Texas Petrochemical Facility: The Company received the initial engineering order from engineering and heater manufacturer Birwelco USA Inc. (a BIH Group company) as the first phase of a project to retrofit four process heaters with a total of 26 ClearSign Core™ burners to be installed in the Gulf Coast facility of a Fortune 500 global chemical company.
Announced Order of Largest Burner Sold to Date: This is the largest boiler burner ClearSign has sold to date, at close to 90 million BTU/hr, or almost two times the size of the previous largest single burner sold. The burner was sold by Devco Process Heaters of Tulsa, OK and will be going into a new heater in a central Texas gas processing facility. The Company expects to deliver the burner in the third quarter.
Announced Board Transitions: Separately, ClearSign announced the appointment of both David Maley and G. Todd Silva to its Board of Directors. Mr. Silva replaced Robert T. Hoffman, Sr. as the director designee of the Company’s largest stockholder, clirSPV LLC.
Announced Closing of Public Offering and Concurrent Private Placement of Common Stock and Warrants as well as the Full Exercise of Participation Right Granted to clirSPV LLC: The offerings and participation right resulted in gross proceeds of approximately $9.3 million and $4.3 million, respectively.
Announced Successful Start-Up of Second Multi-Burner Heater at Kern Energy: The five-burner heater had a successful start-up with independent source testing confirming emissions levels below guarantee. This follows the successful installation and start-up of the first eight-burner heater in January.
Received Orders for the Engineering of Burners for Two Additional Heaters at Kern Energy: 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. These orders follow the recent successful installations of two multi burner heater orders at Kern Energy’s refinery site. Like previous orders, this initial engineering is anticipated to be followed by purchase orders for the manufacture and supply of burners.
Cash and cash equivalents were approximately $16 million as of June 30, 2024.
There were 50,205,657shares of the Company’s common stock issued and outstanding as of June 30, 2024.
The Company will be hosting a call at 5:00 PM ET today. Investors interested in participating on the live call can dial 1-800-836-8184 within the U.S. or 1-646-357-8785 from abroad. Investors can also access the call online through a listen-only webcast at https://app.webinar.net/KO7mz3MRoNZ or on the investor relations section of the Company’s website at http://ir.clearsign.com/overview.
The webcast will be archived on the Company’s investor relations website for at least 90 days and a telephonic playback of the conference call will be available by calling 1-888-660-6345 within the U.S. or 1-646-517-4150 from abroad. Conference ID #84206. The telephonic playback will be available for 7 days after the conference call.
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 the Company’s 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 Company’s ability to successfully deliver, install, and meet the performance obligations of the Company’s burners in the California and Texas market, and any other markets the Company may sell products in; the Company’s ability to further expand the sale of ultra-low NOx process and boiler burners; the Company’s ability to successfully perform engineering orders; the Company’s ability to successfully develop the 100% hydrogen burner with the Phase 2 grant funding; general business and economic conditions; the performance of management and the Company’s employees; the Company’s ability to obtain financing, when needed; the Company’s ability to compete with competitors; whether the Company’s technology will be accepted and adopted and other factors identified in the Company’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission and available at www.sec.gov and other factors that are detailed in the Company’s periodic and current reports available for review at www.sec.gov. Furthermore, the Company operates 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. The Company disclaims any intention to, and, except as may be required by law, undertakes no obligation to, update or revise forward-looking statements to reflect events or circumstances that subsequently occur or of which the Company hereafter become aware.
ClearSign Technologies Corporation and Subsidiary
Condensed Consolidated Balance Sheets
(Unaudited)
(in thousands, except share and per share data)
June 30,
December 31,
2024
2023
ASSETS
Current Assets:
Cash and cash equivalents
$
15,974
$
5,684
Accounts receivable
135
287
Contract assets
5
188
Prepaid expenses and other assets
588
350
Total current assets
16,702
6,509
Fixed assets, net
271
275
Patents and other intangible assets, net
855
836
Total Assets
$
17,828
$
7,620
LIABILITIES AND EQUITY
Current Liabilities:
Accounts payable and accrued liabilities
$
453
$
366
Current portion of lease liabilities
88
71
Accrued compensation and related taxes
430
703
Contract liabilities
825
1,116
Total current liabilities
1,796
2,256
Long Term Liabilities:
Long term lease liabilities
143
172
Total liabilities
1,939
2,428
Commitments and contingencies (Note 9)
Stockholders’ Equity:
Preferred stock, $0.0001 par value, zero shares issued and outstanding
—
—
Common stock, $0.0001 par value, 50,205,657 and 38,687,061 shares issued and outstanding at
June 30, 2024 and December 31, 2023, respectively
5
4
Additional paid-in capital
112,602
98,922
Accumulated other comprehensive loss
(21)
(17)
Accumulated deficit
(96,697)
(93,717)
Total equity
15,889
5,192
Total Liabilities and Equity
$
17,828
$
7,620
The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.
ClearSign Technologies Corporation and Subsidiary
Condensed Consolidated Statements of Operations and Comprehensive Loss
(Unaudited)
(in thousands, except share and per share data)
For the Three Months Ended
For the Six Months Ended
June 30,
June 30,
2024
2023
2024
2023
Revenues
$
45
$
150
$
1,147
$
1,044
Cost of goods sold
3
21
668
809
Gross profit
42
129
479
235
Operating expenses:
Research and development
402
187
683
347
General and administrative
1,777
1,571
3,185
3,221
Total operating expenses
2,179
1,758
3,868
3,568
Loss from operations
(2,137)
(1,629)
(3,389)
(3,333)
Other income
Interest
77
94
138
152
Government assistance
185
14
264
107
Gain from sale of assets
—
—
—
5
Other income, net
3
43
7
162
Total other income
265
151
409
426
Net loss
$
(1,872)
$
(1,478)
$
(2,980)
$
(2,907)
Net loss per share – basic and fully diluted
$
(0.04)
$
(0.04)
$
(0.07)
$
(0.08)
Weighted average number of shares outstanding – basic and fully diluted
47,312,810
38,549,810
43,080,454
38,407,053
Comprehensive loss
Net loss
$
(1,872)
$
(1,478)
$
(2,980)
$
(2,907)
Foreign-exchange translation adjustments
(1)
(12)
(4)
(12)
Comprehensive loss
$
(1,873)
$
(1,490)
$
(2,984)
$
(2,919)
The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.
View original content to download multimedia:https://www.prnewswire.com/news-releases/clearsign-technologies-corporation-provides-second-quarter-2024-update-302227597.html
SOURCE ClearSign Technologies Corporation
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TransPerfect Legal Recognizes Its 2026 Pro Bono Partners
Published
25 minutes agoon
October 26, 2026By
Key Takeaways
Translation and interpretation services for partner firm Fenwick and legal aid organizations.Helps immigrants, asylum seekers, and other vulnerable populations access the US legal system.Language support remains critical to ensuring equal access to justice.
NEW YORK, Oct. 26, 2026
/PRNewswire/ — TransPerfect Legal, the global leader in legal technology, AI, and advisory services, today announced that in honor of the 2026 National Celebration of Pro Bono, it is recognizing the legal aid organizations and partner firms it has supported this year with translation and interpretation services. These partnerships extend legal access to immigrants, asylum seekers, and other vulnerable populations who depend on accurate language support to navigate the US legal system.
The National Celebration of Pro Bono, sponsored by the American Bar Association October 25–31, brings attention to the importance of pro bono legal services and honors the lawyers and organizations working to expand access to justice.
This year, TransPerfect provided translation and interpretation services at reduced rates to Fenwick in support of the following pro bono efforts:
Fenwick — Immigration clinics and mattersCommunity Legal Services in East Palo Alto (CLSEPA) — U Visa Project with attorneys (full-scope work); passport and asylum clinicsCo-Counsel NYC — Naturalization clinicsImmigration Institute of the Bay Area (IIBA) — Naturalization clinicsLawyers’ Committee for Civil Rights of the San Francisco Bay Area (LCCRSF) — Asylum clinicsNew York Legal Assistance Group (NYLAG) — Asylum, naturalization, and TPS clinicsTahirih Justice Center — Immigration intake and U visa clinics
The need for pro bono legal support remains significant. The Pro Bono Declaration of the Americas states that “members of the legal profession have a responsibility to provide pro bono legal services”—a responsibility the Declaration links to the profession’s broader role in society and its commitment to a fair and equitable legal system.
“Access to justice depends on access to language,” said Eric Elting, Regional Director. “When someone can’t understand the proceeding that will decide their asylum claim or their immigration status, the legal system isn’t actually open to them. That’s the gap our pro bono partners work to close every day, and we’re proud to support that work.”
TransPerfect President and Co-CEO Phil Shawe commented, “Since our humble beginnings in NYC, we are proud to have performed pro bono legal work, including work to eliminate language barriers in legal processes. These efforts continue to this day.”
About TransPerfect Legal
TransPerfect Legal is the global leader in legal technology, AI, and advisory services for Am Law 200 and Global 100 law firms as well as corporate legal departments. With offices in more than 150 cities worldwide, solutions include forensic technology and consulting, eDiscovery and early data assessment, managed review and legal staffing, language services, deposition and trial support, and paper discovery, all offered alongside the Reef Technology ecosystem, TransPerfect Legal’s suite of proprietary applications that address the needs of legal and regulatory practitioners around the world. For more information, please visit www.transperfectlegal.com.
About TransPerfect
TransPerfect is the world’s largest provider of language and AI solutions for global business. From offices in over 150 cities on six continents, TransPerfect offers a full range of services in 200+ languages to clients worldwide. More than 6,000 global organizations employ TransPerfect’s GlobalLink® technology to simplify the management of multilingual content. With an unparalleled commitment to quality and client service, TransPerfect is fully ISO 9001 and ISO 17100 certified. TransPerfect has global headquarters in New York, with regional headquarters in London and Hong Kong. For more information, please visit our website at www.transperfect.com.
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SOURCE TransPerfect
Technology
Forum Edge AI Announces $94.4 Million Definitive AI Cloud Services Compute Agreement with Fireworks
Published
25 minutes agoon
October 26, 2026By
PALM BEACH, Fla., Oct. 26, 2026 /PRNewswire/ — Forum Markets, Incorporated (“Forum” or “the Company”) (Nasdaq: FRMM), an innovator in sourcing and operating cash-generating assets in AI infrastructure, commercial aerospace and AI-powered consumer finance, today announced that Forum Edge AI LLC (“Forum Edge”), the Company’s joint venture with Edge Node Inc., has entered into a definitive agreement with Fireworks, the specialized intelligence platform, for a 36-month reservation of Nvidia B300 GPU capacity at its existing, powered data center facility in Dallas.
The agreement carries a combined total contract value of approximately $94.4 million, reflecting GPU capacity and associated CPU management node fees payable over the 36-month term. Fireworks has provided a substantial prepayment deposit, which will be credited against fees due across the term.
The GPUs are expected to be deployed at Forum Edge’s Dallas data center in late December or early January. The Dallas facility is one of the sites included in Forum’s initial AI infrastructure investment and features existing permits, power access and physical infrastructure.
“This agreement is an important proof point for our AI infrastructure strategy and reflects our focus on bringing revenue generating GPUs to market quickly in a modular manner,” said McAndrew Rudisill, chairman and chief executive officer of Forum Markets, Incorporated. “We have a strong partnership with Fireworks and are excited about our growth trajectory as we scale our AI infrastructure business. This is the first finalized contract Forum Edge is executing against and the first of several exciting partnerships we expect to deploy into our unique footprint.”
Fireworks provides inference, training, and routing that help enterprises deploy and scale generative AI applications in production. The company was most recently valued at approximately $17.5 billion, with backers including Nvidia, Atreides Management, Index Ventures and TCV. Fireworks’ scale and the caliber of its financial backers reflect the type of high-quality counterparty Forum has identified in its off-take partnerships.
Hosted AI, Inc., through its AI commercialization network/mesh and platform, facilitated the relationship between Forum Edge AI and Fireworks.
The agreement represents Forum Edge’s first contracted customer commitment and supports Forum’s broader strategy of deploying disciplined, risk-adjusted capital into cash-generating AI infrastructure assets.
About Forum Markets, Incorporated
Forum Markets, Incorporated (Nasdaq: FRMM) is an innovative company that sources and structures cash-generating assets with attractive risk-adjusted returns in aerospace, AI, and AI-powered consumer finance. The company draws on proprietary origination pipelines and strategic co-investment partnerships to scale its portfolio and generate durable operating income. Forum integrates traditional asset management principles with hands-on operational execution as it builds a new framework for how real-world assets are owned, managed, and monetized. For more information, please visit forum-markets.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the future performance and growth of the Company; the ability of the Company to execute its plans, the assets to be held by the Company, the Company’s current and anticipated yield strategies, and future performance. Forward-looking statements are subject to numerous risks and uncertainties, many of which are beyond the Company’s control, and actual results may differ materially. Applicable risks and uncertainties include, among others, the risk that the proposed transactions described herein may not be completed in a timely manner or at all, including the risk that the parties do not execute definitive documentation for the joint venture or any individual project; the risk that anticipated site capacity, power availability, permitting, equipment delivery or customer contracts are delayed or not obtained; the risk that equipment financing is not available on the terms or in the amounts assumed, or at all; risks relating to the Company’s recently completed offering, including dilution to existing stockholders and the risk that the net proceeds are insufficient to fund the initial projects as contemplated or are applied to uses other than those described herein; risks associated with the Company’s guarantee obligations in support of project-level financing; failure to realize the anticipated benefits of the stock repurchase program, previously announced private placements, sale of convertible notes, and related transactions, including the Company’s ability to achieve profitable operations; the Company’s ability to repurchase shares of common stock, the timing thereof, purchase price thereof, and the fact that repurchases may not be undertaken under the stock repurchase program; fluctuations in the market price of ETH that will impact the Company’s accounting and financial reporting; government regulation of tokenized securities; risks relating to the treatment of assets for U.S. and foreign tax purposes; changes in securities laws or regulations; changes in business, market, financial, political and regulatory conditions; risks relating to the Company’s OTC transaction, including the Company’s ability to repay such facility, covenants associated therewith and security interests associated therewith; risks relating to the Company’s previously announced ATM offering, including potential downward pressure on the Company’s stock price associated therewith; risks relating to the Company’s operations and businesses; risks related to increased competition in the industries in which the Company does and will operate; risks relating to significant legal, commercial, regulatory and technical uncertainty regarding digital assets generally; expectations with respect to future performance, growth and anticipated acquisitions; potential litigation involving the Company; global economic conditions; geopolitical events and regulatory changes; access to additional financing, and the potential lack of such financing; and the Company’s ability to raise funding in the future and the terms of such funding, including dilution caused thereby, as well as those risks and uncertainties identified and those identified under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, as well as the supplemental risk factors and other information the Company has or may file with the SEC, including those disclosed under Item 8.01 of the Current Reports on Form 8-K filed by the Company with the SEC. Readers are cautioned not to place undue reliance on these statements. Investors should also be aware that under U.S. generally accepted accounting principles (GAAP), certain crypto assets must be measured at fair value, with changes recognized in net income for each reporting period. These fair value adjustments may cause significant fluctuations in the Company’s balance sheet and income statement from period-to-period. In addition, for certain crypto assets, including ETH, which the Company holds as collateral against a loan, impairment charges may be required to be reported in net income if the market price of such assets falls below the cost basis at which those assets are carried on the balance sheet. Readers are encouraged to read the Company’s filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update any forward-looking statements except as required by law. The Company’s business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.
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Perhaps Agency Expands Network Relationships for Emerging Brands
Published
25 minutes agoon
October 26, 2026By
Perhaps Agency’s new FuseTwo partnership and AvantLink certification give emerging brands broader access to networks, partnerships and expertise as rising paid-media costs push advertisers toward new acquisition channels.
LAS VEGAS, Oct. 26, 2026 /PRNewswire-PRWeb/ — Perhaps Agency, a full-funnel partner marketing agency specializing in affiliate and influencer marketing, announced the continued expansion of its strategic relationships with networks across the partner marketing industry, including FuseTwo, a recently launched partner marketing platform, and AvantLink, an affiliate marketing platform. These relationships give Perhaps Agency’s clients broader access to networks, technology and partnership opportunities as emerging brands seek growth channels beyond paid media.
Rising costs across paid social and search have pushed many brands to look for acquisition channels they can scale without expanding an internal team or committing to a large retainer. Partner marketing is one route: it brings affiliate, influencer, creator and media partnerships together in one performance-based program. For growing brands, the right network relationships can determine whether an affiliate or influencer program gets off the ground. Perhaps builds and maintains those relationships on its clients’ behalf, while strengthening its ability to identify strategic opportunities and connect brands with the partners that support their growth.
Perhaps Agency’s partnership with FuseTwo, a partner marketing platform built for growing brands, offers Perhaps clients additional opportunities, resources and expertise. These brands gain access to the FuseTwo platform, which brings affiliate, influencer, creator and media partners into a single system with unified attribution. FuseTwo’s cookieless affiliate attribution and tracking, real-time reporting and AI-assisted automation give the Perhaps team faster data across every program the agency manages, supporting publisher recruitment and partner program optimization.
This approach pairs human expertise with accelerated technology. The Perhaps team, with more than two decades of combined partner marketing experience, continues to make the strategic calls, while the FuseTwo platform speeds up the analysis behind them.
As part of the partnership, Perhaps Agency is able to offer certain promotional features through the Perhaps + FuseTwo Growth Launch Offer, available to brands that register with FuseTwo through Perhaps. The features include FuseTwo covering a brand’s first month of Perhaps partner marketing management services, including strategy, recruitment and hands-on support, and Perhaps covering the brand’s FuseTwo platform setup fee. FuseTwo also offers qualifying migrating advertisers 0% transaction fees when they bring a qualifying group of active publishers to the platform. Subsequent management services are subject to the applicable service agreement, and additional terms and eligibility requirements may apply.
Beyond its partnership with FuseTwo, Perhaps is now an AvantLink Certified Agency Partner, demonstrating the company’s expertise and commitment to building network relationships for clients. AvantLink, an affiliate marketing platform, offers an agency certification program for agencies within its ecosystem. The program validates practical expertise in affiliate strategy, partner management, attribution and technology capabilities.
The certification signifies three areas: credibility, capability and visibility. Credibility reflects demonstrated knowledge of affiliate marketing strategy and program management. Capability reflects an understanding of partner relationships, attribution models, reporting and optimization. Visibility reflects opportunities for agency recommendations, preferred partner listings and co-marketing collaboration.
For Perhaps Agency, this status reinforces its expertise in affiliate marketing strategy and publisher partnerships. For growing brands, it means working with an agency that combines experienced program management with access to established affiliate marketing technology, which can help reduce the complexity of launching, managing and scaling a partner program.
About Perhaps: Perhaps Agency is a full-funnel U.S. partner marketing agency, serving as an affiliate marketing agency and influencer marketing agency for emerging and mid-market brands across Apparel, Beauty, Health & Wellness, Home Goods, CPG, DTC and more, including affiliate marketing for Shopify brands, WooCommerce affiliate marketing and affiliate marketing for CPG brands. Perhaps combines affiliate network management, influencer and creator management and Performance PR into a single, integrated partner marketing program. The Perhaps team brings more than two decades of combined affiliate and influencer marketing experience. Learn more at Perhaps.com.
Media Contact
Jen Root, Perhaps, 1 (786) 396-9863, pr@perhaps.com, www.perhaps.com
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