Clearsign Combustion Corp. (NASDAQ:CLIR) Q1 2019 Earnings Conference Call Transcript

May 08, 2019 • 04:30 pm ET

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Clearsign Combustion Corp. (NASDAQ:CLIR) Q1 2019 Earnings Conference Call Transcript

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Presentation
Executive
Robert T. Hoffman

well-respected burner brands. But of course those accolades were based only on the extensive interviews and references we had gone through in a whopping three days on the job.

With the NFL draft having taken place a few weeks ago, I think there is an interesting analogy between searching for a CEO and selecting a first round (ph) draft choice. The stakes are high. And as the Arizona Cardinals will attest, do-overs are very expensive, and uncertainty remains. The question's not what they did in college, the issue is whether they can translate that to even better performance in the NFL.

In the case of Jim Deller and ClearSign, we have already seen tremendous evidence that he will succeed with his bigger role of CEO.

While younger investors might not grasp the analogy, Jim is the Bart Starr as opposed to the Joe Namath of the combustion industry. As investors get to know Jim, they will discover that he will never be like Broadway Joe and "guarantee victory", nor will he ever be the flashiest guy in an investor conference. Conversely, like Bart Starr, he will be the understated field general getting the most out of his team while, at the same time, being the most important cog in driving that team to victory and making the clutch decisions when it is most important.

I don't want to preempt Jim's commentary today, but suffice it to say that our draft pick has already demonstrated that he is game-ready. And I am excited for him to share his vision for ClearSign's success with you today. So with that, I will turn the call over to ClearSign's Chief Executive Officer, Jim Deller.

Executive
Colin James Deller

Great. Well, thank you. I clearly have to get on to Google. I was born in 1968 in England. Who is this Bart Starr and Broadway Joe guy?

Executive
Robert T. Hoffman

Well, I guess, that's what Google was invented for. Maybe you won't be the only one on the call that has to look those up.

Executive
Colin James Deller

I guess it's part of my education here. Anyway, good afternoon, everybody. As Rob pointed out, on the last call, I had literally just joined the company by a couple of days.

To review, I said that my immediate task upon joining the company was to assess the status of the technology internally as well as with our current and prospective customers. I mentioned that the traditional burner business is very competitive due to high barriers to entry in terms of infrastructure requirements and the inherent very careful nature of the business.

I also mentioned that our business model variations, which may be different from the traditional burner supply business, that should be explored and that can serve ClearSign's objective of accelerating commercialization.

In my remarks here, I want to discuss what I believe our technology is today, how it fits into the market and our path to capture our share of that market.

Since that last call in February, we have been focusing on optimizing our