Clearsign Combustion Corp. (NASDAQ:CLIR) Q1 2019 Earnings Conference Call - Final Transcript
May 08, 2019 • 04:30 pm ET
Colin James Deller
technology, the goal of rapidly leading our technology towards all commercialization in addition to our progress towards arranging supply partnerships, which I will talk about later, beyond modifying the structure of the company from being predominantly focused on R&D to a structure ready to support our anticipated commercial operations.
We have also cut expenditures where this can be done without hindering us on our path to commercializing ClearSign technology. I and the rest of the ClearSign team are very aware of the expectations you, as shareholders, have for results to share your disappointment in the perceived lack of progress, especially with the knowledge of the developments being made and the potential for ClearSign in the future. We recognize that revenue and profit are the true measurements of success. And with that sole objective in mind, we are moving quickly to bringing products to market in a fully commercialized manner. This is necessary for full-scale commercial operations. Stepping back, I would like to give you an update on activities over the past three months. This will cover developments in our technology, business strategy, and our activities in China, and will then give an update on specific opportunities we are pursuing. Hopefully at the end of this, you will have a better understanding of how we expect ClearSign's business to develop going forwards.
Over the previous years, ClearSign has developed and demonstrated great technology over a wide range of applications, and this is what brought me here today. In fact, I believe that ClearSign can truly be a game-changer in the vast field of industrial combustion. But we have to walk before we can run. So in the past three months, we have transitioned our operational focus to the commercialization of this technology, primarily identifying and addressing what needs to be changed or improved to make ClearSign technology more readily adoptable by our customers. This included the technical configuration of the equipment, the resources needed to offer a full commercial product line and the manner in which our technology is delivered to our customers.
Let me take this opportunity to highlight some changes we have made to the configuration of the Duplex technology and the reasons for them, and also how we are developing our channels into the market.
To bring key products to market quickly, we have prioritized our efforts on the Duplex technology as applied to refinery heaters, particularly in the Plug & Play technology and the burners for fire tube boilers, which when we look at the boiler opportunities, is by far the biggest and most readily addressable boiler market for ClearSign.
This decision was not only based on the size of the addressable markets but also on the value of the technology it can provide to these customers, how consistent the product designs will be, enabling standardization and the efficient scaling of our business; and most importantly, how quickly we can get a commercialized product to the market.
Very significantly, these products not only provide value through their