ClearSign Technologies Corp (CLIR) 2024 Q2 法說會逐字稿

Good afternoon and welcome to the ClearSign Technologies second-quarter 2024 conference call. (Operator Instructions) Please note this event is being recorded.

下午好，歡迎參加 ClearSign Technologies 2024 年第二季電話會議。（操作員說明）請注意此事件正在被記錄。

I would now like to turn the conference over to Matthew Selinger of Firm IR Group. Please go ahead.

我現在想將會議轉交給 Firm IR Group 的 Matthew Selinger。請繼續。

Good afternoon, and thank you, operator, and welcome, everyone, to the ClearSign Technologies Corporation second-quarter 2024 results conference call. During this conference call, the company will make forward-looking statements. Any statement that is not a statement of historical fact is a forward-looking statement. This includes remarks about the company's projections, expectations, plans, beliefs, and prospects. These statements are based on judgments and analysis as of the date of this conference call and are subject to numerous important risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements.

下午好，謝謝業者，歡迎大家參加 ClearSign Technologies Corporation 2024 年第二季業績電話會議。在本次電話會議期間，該公司將做出前瞻性聲明。任何非歷史事實陳述的陳述均為前瞻性陳述。這包括有關公司的預測、期望、計劃、信念和前景的評論。這些陳述是基於截至本次電話會議之日的判斷和分析，並受到許多重要風險和不確定性的影響，可能導致實際結果與前瞻性陳述中所述的結果有重大差異。

The risks and uncertainties associated with the forward-looking statements made in this conference call include, but are not limited to, whether field testing and sales of ClearSign products will be successfully completed, whether ClearSign will be successful in expanding the market for its products and other risks that are described in ClearSign's public periodic filings with the SEC, including the discussion in the Risk Factors section of the 2023 Annual Report on Form 10-K for the period ended December 31, 2023. Except as required by law, ClearSign assumes no responsibility to update these forward-looking statements to reflect future events or actual outcomes and does not intend to do so.

與本次電話會議中前瞻性聲明相關的風險和不確定性包括但不限於 ClearSign 產品的現場測試和銷售是否能夠成功完成、ClearSign 是否能夠成功拓展其產品的市場以及ClearSign 向SEC 公開定期提交的文件中所述的其他風險，包括截至2023 年12 月31 日期間10-K 表格2023 年年度報告的風險因素部分中的討論。除法律要求外，ClearSign 不承擔更新這些前瞻性聲明以反映未來事件或實際結果的責任，也不打算這樣做。

So on the call with me today are Jim Deller, ClearSign's Chief Executive Officer; and Brent Hinds, ClearSign's Chief Financial Officer. So with that, at this point of the call, I would like to turn the call over to CFO, Brent Hinds. So Brent, please go ahead.

今天與我通話的有 ClearSign 執行長吉姆戴勒 (Jim Deller)；和 ClearSign 財務長 Brent Hinds。因此，在通話的這個階段，我想將通話轉給財務長布倫特·海因茲 (Brent Hinds)。布倫特，請繼續。

Thank you, Matthew. And thank you to everyone joining us here today. Before I begin, I'd like to note that our financial results for the second quarter of 2024 are included on the quarterly report on Form 10-Q that was filed with the SEC last Wednesday on August 14.

謝謝你，馬修。感謝今天加入我們的所有人。在開始之前，我想指出，我們 2024 年第二季的財務業績包含在 8 月 14 日上週三向 SEC 提交的 10-Q 表格季度報告中。

And with that, I'd like to give an overview of the financials for the second quarter of 2024. For the second quarter of 2024, the company recognized approximately $45,000 in revenues compared to $150,000 for the same comparable period in 2023. This $105,000 decrease in revenues is driven by the natural lumpiness in our business as we continue to work to build our sales pipeline. While don't provide guidance, Jim will comment later on our project pipeline with shipping and delivery timeframes, which can give an indication of future revenues.

在此，我想概述一下 2024 年第二季的財務狀況。2024 年第二季度，該公司確認的收入約為 45,000 美元，而 2023 年同期為 150,000 美元。收入減少 105,000 美元是由於我們繼續努力建立銷售管道，導致業務自然不穩定。雖然不提供指導，但吉姆稍後將對我們的專案管道以及運輸和交付時間框架發表評論，這可以表明未來的收入。

Looking at the income statement as a whole, our net loss for the second quarter in 2024 was approximately $1.9 million, which is an unfavorable increase of approximately $400,000 compared to the same period in 2023. This unfavorable year-over-year change was predominantly due to a one-time non-cash event for $260,000 related to the vesting of restricted stock units in connection with the resignation of Mr. Hoffman from the Board of Directors.

從整體損益表來看，我們2024年第二季的淨虧損約為190萬美元，與2023年同期相比不利增加約40萬美元。這一不利的同比變化主要是由於與霍夫曼先生從董事會辭職有關的限制性股票單位歸屬相關的一次性非現金事件 260,000 美元。

Now I'd like to shift focus from our income statement to the balance sheet -- more specifically, cash. Our net cash used in operations for the second quarter of 2024 was approximately $1.5 million compared to a generation of cash of approximately $50,000 for the same period in 2023. This unfavorable year-over-year change was driven by the prior year's operations. As you may recall, during the second quarter of 2023, we collected a significant amount of cash from customers, because we met billing milestones specified in our contracts.

現在我想將重點從損益表轉移到資產負債表上——更具體地說，是現金。我們 2024 年第二季營運中使用的淨現金約為 150 萬美元，而 2023 年同期產生的現金約為 5 萬美元。這種不利的同比變化是由上一年的營運造成的。您可能還記得，在 2023 年第二季度，我們從客戶那裡收取了大量現金，因為我們達到了合約中規定的計費里程碑。

Shifting gears to continue our focus on cash. I would also like to revisit an announcement we made on June 20, 2024, where we announced the full exercise of the clirSPV participation right. Pursuant to a stock purchase agreement dated July 12, (technical difficulty), clirSPV can participate in equity offerings to maintain its 19.99% ownership.

轉變方向，持續關注現金。我還想回顧一下我們在 2024 年 6 月 20 日發布的公告，當時我們宣布全面行使 clirSPV 參與權。根據7月12日的股票購買協議（技術難度），clirSPV可以參與股權發行，以維持其19.99%的所有權。

The full exercise of the participation right added approximately $4.3 million in cash to the balance sheet. Coupled this with the other recent equity offerings, we added approximately $13 million in cash to our balance sheet in the second quarter of 2024. So therefore, as of June 30, 2024, we reported a balance of approximately $16 million in cash and cash equivalents. From a financial perspective, we believe this working capital position instills greater confidence in our customers and suppliers when doing business with us.

充分行使參與權為資產負債表增加了約 430 萬美元現金。再加上最近的其他股票發行，我們在 2024 年第二季的資產負債表中增加了約 1,300 萬美元的現金。因此，截至 2024 年 6 月 30 日，我們報告的現金和現金等價物餘額約為 1,600 萬美元。從財務角度來看，我們相信這種營運資金狀況可以為我們的客戶和供應商在與我們開展業務時增強信心。

And with that, I'd like to turn the call over to our CEO, Jim Deller. Jim?

接下來，我想將電話轉給我們的執行長吉姆·戴勒 (Jim Deller)。吉姆？

Before I start on behalf of ClearSign and the Board, I want to thank our former Chairman and Board member, Rob Hoffman, for his years of service and for the financial support for ClearSign provided by clirSPV. Rob's support was instrumental in fostering this company from a research and development technology company to the viable commercial entity we are today.

在代表 ClearSign 和董事會開始之前，我要感謝我們的前董事長兼董事會成員 Rob Hoffman，感謝他多年的服務以及 cirSPV 為 ClearSign 提供的財務支持。羅布的支持對於將這家公司從研發技術公司發展成為今天的可行商業實體發揮了重要作用。

On a similar note, I'd like to welcome Todd Silva to the ClearSign Board of Directors to fill Rob's vacancy as clirSPV's designate. Todd brings over 30 years of leadership and financial experience in industries spanning financial services, technology, healthcare, and others. I think this is an exciting time for the company, and we look forward to working with Todd and the other Board members.

同樣，我歡迎 Todd Silva 加入 ClearSign 董事會，以填補 Rob 作為 cirSPV 指定人選的空缺。Todd 在金融服務、科技、醫療保健等行業擁有 30 多年的領導和財務經驗。我認為這對公司來說是一個激動人心的時刻，我們期待與托德和其他董事會成員合作。

For the call today, I will review our product line, starting with our process burners then move to boiler burners and then discuss the outlook for the rest of the year.

在今天的電話會議中，我將回顧我們的產品線，從我們的製程燃燒器開始，然後轉向鍋爐燃燒器，然後討論今年剩餘時間的前景。

So turning to our process burner line. In our last call, we discussed our multiple installations and follow-on orders from Kern Energy in California. At that time, our two largest heater retrofit projects had just been started up and shortly afterwards, their emissions were verified by third-party measurements known as source tests. These two heaters are side by side, one with five burners and the other with eight.

因此，轉向我們的製程燃燒器系列。在上次電話會議中，我們討論了加州克恩能源公司的多個安裝和後續訂單。當時，我們兩個最大的加熱器改造專案剛剛啟動，不久之後，它們的排放量就通過了稱為源測試的第三方測量進行了驗證。這兩個加熱器並排放置，一個有五個燃燒器，另一個有八個。

Since those two projects, we have also received follow-on orders for two additional heaters at Kern Energy. By previous orders, the initial purchase order is for engineering, and we anticipate receiving the orders for the follow-on fabrication and deliveries to complete these retrofits after our engineering scope is complete.

自從這兩個項目以來，我們還收到了科恩能源公司額外兩台加熱器的後續訂單。根據先前的訂單，最初的採購訂單用於工程，我們預計會收到後續製造和交付的訂單，以在我們的工程範圍完成後完成這些改造。

We continue to work with Kern Energy, obviously, on our existing projects, but also in regards to discussions for the future. You may also see messaging from Kern Energy, particularly on LinkedIn and other news articles referencing our work together from their perspective, emphasizing their priorities and values and why our projects are important to Kern Energy. In their words, the supply of ClearSign's technology helps their refinery continue to meet California's clean air goals and go beyond established emissions limits to further reduce their environmental footprint.

顯然，我們將繼續與克恩能源公司就現有項目進行合作，同時也就未來的討論進行合作。您也可能會看到來自 Kern Energy 的消息，特別是在 LinkedIn 和其他新聞文章中，從他們的角度引用我們的合作，強調他們的優先事項和價值觀以及為什麼我們的專案對 Kern Energy 很重要。用他們的話來說，ClearSign 技術的供應幫助他們的煉油廠繼續滿足加州的清潔空氣目標，並超越既定的排放限制，進一步減少其環境足跡。

Since then, and most recently, we have made further significant progress in our process burner product line. On July 17, we announced that we had received the engineering order from engineering company and heater manufacturer, Birwelco USA Incorporated, a boosted international heater company, for the first phase of a project to retrofit 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.

從那時起，以及最近，我們在製程燃燒器產品線方面取得了進一步的重大進展。7 月17 日，我們宣布，我們已收到工程公司和加熱器製造商Birwelco USA Incorporated（一家國際加熱器公司）的工程訂單，該訂單第一階段的工藝加熱器改造項目共有26 個ClearSign Core 燃燒器，安裝在財富 500 強全球工公司的墨西哥灣沿岸工廠。

This order is important, not just for the size and anticipated revenue associated with it as important as that is, but also because the order is destined for a facility in Texas, which is part of the USA Gulf Coast region that we expect to ultimately be the largest market for our current product lines, and one that is now in the process of advising their clean air regulations. Because of the prominence of the engineering and heater manufacturer of the Birwelco, we were paramount in the selection of the equipment for this project, which ultimately resulted in the order being placed with ClearSign.

該訂單很重要，不僅是因為其規模和預期收入同樣重要，而且還因為該訂單的目的地是德克薩斯州的一家工廠，該工廠是美國墨西哥灣沿岸地區的一部分，我們預計該工廠最終將成為美國墨西哥灣沿岸地區的一部分。由於 Birwelco 的工程和加熱器製造商的突出地位，我們在該專案的設備選擇中發揮了至關重要的作用，最終透過 ClearSign 下了訂單。

For anyone looking to get insight into this industry, I encourage you to look up at Birwelco and particularly to visit their website. They work with a distinguished list of major refiners, midstream and chemical companies. They are based in Houston and part of Boustead International Heaters, or BIH, which includes sister companies in Europe, Malaysia, and Singapore. Birwelco business is predominantly the supply of heaters to refineries and petrochemical plant or engineering new projects to upgrade them, including projects that require the change out of the burners.

對於任何想要深入了解這個行業的人，我鼓勵您查看 Birwelco，特別是訪問他們的網站。他們與眾多知名煉油廠、中游和化學公司合作。他們的總部位於休斯敦，是 Boustead International Heaters (BIH) 的一部分，BIH 還包括歐洲、馬來西亞和新加坡的姊妹公司。Birwelco 的業務主要是向煉油廠和石化廠供應加熱器或設計新項目以對其進行升級，包括需要更換燃燒器的項目。

We believe that having Birwelco expressed their confidence in ClearSign's technology allowing them to have first-hand experience of it and the exposure to what we do makes us well positioned to be part of the solutions they offer and may provide for future clients. As you would expect, we are engaged in other early-stage conversations of this nature with them.

我們相信，Birwelco 表達了他們對ClearSign 技術的信心，使他們能夠獲得第一手的技術經驗，並了解我們所做的事情，使我們能夠成為他們提供的解決方案的一部分，並可能為未來的客戶提供解決方案。正如您所料，我們正在與他們進行其他此類性質的早期對話。

If you've participated in previous conference calls, we have mentioned that we are working with a major global chemical company to become approved vendor in their system. In fact, that was not a one-off but one of these was a precursor to this order I have just described.

如果您參加過先前的電話會議，我們已經提到我們正在與一家大型全球化學公司合作，成為他們系統中認可的供應商。事實上，這不是一次性的，但其中之一是我剛才描述的這項命令的前身。

Beyond this, we have a 20-burner order nearing completion. The final witness test was completed some time ago, and these burners are now finishing fabrication by our partner, Zeeco and is scheduled to be shipped to our client in the Los Angeles area of California late in September. When up and running, there will be another two heaters this time with 8 and 12 burners, which will provide a very significant reference for us, especially given their location in the large refining hub in the Los Angeles area.

除此之外，我們還有 20 個燃燒器的訂單即將完成。最終見證測試已於前一段時間完成，這些燃燒器現已由我們的合作夥伴 Zeeco 完成製造，並計劃於 9 月底運送給我們位於加州洛杉磯地區的客戶。啟動運行後，這次還會有另外兩台加熱器，分別有8個和12個燃燒器，這將為我們提供非常重要的參考，特別是考慮到它們位於洛杉磯地區的大型煉油中心。

As previously noted, at accordance with the contract terms of this project, we will collect revenue upon shipment of the burners. So referring back to Brent's comments earlier, our revenue flow is based on the contractual milestones of our projects. So we anticipate that during the period in which we are establishing sales, our revenue flow may be lumpy. While we had significant sales news in the second quarter of 2024, shipping orders like this are what show up in our financial results.

如前所述，根據該項目的合約條款，我們將在燃燒器發貨時收取收入。因此，回顧布倫特之前的評論，我們的收入流是基於我們專案的合約里程碑。因此，我們預計在建立銷售期間，我們的收入流可能會不穩定。雖然我們在 2024 年第二季收到了重大銷售消息，但像這樣的出貨訂單卻出現在我們的財務表現中。

Regarding our crossover product line, meaning our horizontally fired burners for process heaters, on June 26, we announced the sale of our largest burner to date. The sale is meaningful for a couple of reasons. First, the firing rate of this burner at close to 90 million BTUs per hour is almost two times the size of our previous largest single burner sold. With this, we will have demonstrated products designed for our small-, medium- and large-sized ranges in the field.

關於我們的跨界產品線，即用於製程加熱器的水平燃燒燃燒器，6 月 26 日，我們宣佈出售迄今為止最大的燃燒器。此次出售之所以有意義，有幾個原因。首先，這款燃燒器的燃燒速率接近每小時 9,000 萬 BTU，幾乎是我們之前銷售的最大單一燃燒器尺寸的兩倍。藉此，我們將在現場展示專為小型、中型和大型系列設計的產品。

Secondly, this burner was sold in collaboration with another heater manufacturer, DevCo Process Heaters or DevCo, into the midstream market, which will introduce our solutions, new customers and expand our sales channels. In that regard, we have received requests to provide quotes for additional projects from DevCo since the supply of this burner.

其次，該燃燒器與另一家加熱器製造商 DevCo Process Heaters 或 DevCo 合作銷售到中游市場，這將引入我們的解決方案、新客戶並擴大我們的銷售管道。在這方面，自供應該燃燒器以來，我們已收到 DevCo 要求提供其他項目報價的請求。

The burner will be going into a heater in Central Texas gas processing facility. We expect the burner to be delivered during the third quarter this year. This product line continues to gain traction. We believe this level of interest and customer requests for quotes indicate that there is a ready market for these burners. We have proposals that are progressing well, and I hope to have further news from this progression in the near future.

該燃燒器將安裝在德州中部天然氣處理設施的加熱器中。我們預計燃燒器將於今年第三季交付。該產品線繼續受到關注。我們相信這種興趣程度和客戶的報價請求表明這些燃燒器有一個現成的市場。我們的提案進展順利，我希望在不久的將來能收到有關這項進展的進一步消息。

We also have an update on our hydrogen burner technology. On the last call, we reported that this new technology had worked very well and have exceeded our expectations at this stage of the project. We mentioned that we have shared some of those initial results on LinkedIn. While we still have some work to do before calling this product line complete, the hydrogen burner performance is sufficiently robust and comprehensive that we are able to offer this new product for sale and have already been doing soon.

我們也更新了氫燃燒器技術。在上次通話中，我們報告說這項新技術運作良好，超出了我們在專案現階段的預期。我們提到我們已經在 LinkedIn 上分享了其中一些初步結果。雖然在完成該產品線之前我們還有一些工作要做，但氫氣燃燒器的性能足夠強大和全面，我們能夠提供這種新產品進行銷售，並且已經很快開始銷售。

One of the attributes of this new technology is that it will perform not only with 100% hydrogen as a fuel in the future, but also with the fuel gas that is currently in use today. And because of this, it is a product that our customers can install to meet their NOx and other operational requirements today and at the same time, have the technology in place and ready to operate as they introduce additional hydrogen to their fuel gas streams or convert to 100% hydrogen when that fuel source becomes available in the future.

這項新技術的特點之一是，未來它不僅可以使用 100% 氫氣作為燃料，而且可以使用目前使用的燃氣。正因為如此，我們的客戶現在可以安裝該產品來滿足他們的氮氧化物和其他操作要求，同時，當他們向燃料氣流中引入額外的氫氣或將其轉化為燃料時，該技術已到位並準備好運作。

Last week, we hosted a process burner technology launch event at the facilities of Zeeco. I have frequently emphasized that one of our priorities is to develop familiarity and confidence in our technology and its capabilities throughout our customers and other industry stakeholders. Obviously, a key part of this is developing our installed base, but we can also progress this by holding events such as this, in which we demonstrate that our technology operating in the Zeeco test burners.

上週，我們在 Zeeco 工廠舉辦了製程燃燒器技術發布會。我經常強調，我們的首要任務之一是讓我們的客戶和其他行業利益相關者對我們的技術及其能力產生熟悉和信心。顯然，其中的關鍵部分是發展我們的安裝基礎，但我們也可以透過舉辦此類活動來推進這一目標，在這些活動中，我們展示了我們的技術在 Zeeco 測試燃燒器中的運作情況。

As you would expect, this was accompanied by a series of presentations and discussions about our technology, how it is installed and operated, et cetera, including our introduction and presentation of our new hydrogen burners which provided an opportunity for our customers to literally see it in person for the first time. This demonstration was well attended, included by senior technical representatives of two global super major refineries and an equivalent global chemicals company, multiple global engineering, procurement and construction, or EPC, companies, multiple leading heater manufacturers and prominent engineering and consulting companies. The burner demonstration went seamlessly and from what we can tell with the presentations were well received with active engagement and significant discussions throughout the day.

正如您所期望的，伴隨著一系列關於我們的技術、其安裝和操作方式等的演示和討論，包括我們對新型氫燃燒器的介紹和演示，這為我們的客戶提供了真正了解它的機會第一次親自見面。此次展示現場氣氛熱烈，包括兩家全球超大型煉油廠和一家同等全球工公司的高級技術代表，多家全球工程、採購和施工（EPC）公司，多家領先的加熱器製造商以及著名的工程和諮詢公司。燃燒器演示進行得很順利，從我們的演示中可以看出，全天的積極參與和重要討論受到了好評。

I'm also pleased to note that there was significant interest in the new 100% hydrogen-capable burner. What was also particularly pleasing was the continuing active dialogue and in particular, with our customers raising their needs and highlighting how our technology could help them solve their respective challenges and the value of these solutions for them, which is very helpful as we prioritize our product development initiatives.

我還很高興地註意到，人們對新型 100% 氫氣燃燒器表現出了濃厚的興趣。特別令人高興的是持續的積極對話，特別是與我們的客戶提出他們的需求，並強調我們的技術如何幫助他們解決各自的挑戰以及這些解決方案對他們的價值，這對於我們優先考慮我們的產品非常有幫助發展措施。

There have been some developments in clean air regulations in both Texas and Colorado that are relevant to both our process and boiler burner product lines. First, in Texas, there was a final certification by the United States EPA of Texas's reclassification of non-attainment status for compliance with the 2015 National Ambient Air Quality Standards for ozone from moderate to serious for both the Greater Houston and Greater Dallas regions. This triggers many actions by the Texas Commission on Environmental Quality or TCEQ, most notably a revision of the state implementation plans or SIPs for both regions and implementation of new reasonably available control technology, or RACT, rules for emission sources.

德州和科羅拉多州的清潔空氣法規取得了一些進展，這些進展與我們的製程和鍋爐燃燒器產品線相關。首先，在德克薩斯州，美國環保署對德克薩斯州大休斯敦和大達拉斯地區的臭氧不達標狀況進行了重新分類，將其從“中度”改為“嚴重”，以符合2015年國家環境空氣品質標準。這引發了德州環境品質委員會(TCEQ) 採取的許多行動，最引人注目的是修訂兩個地區的州實施計劃或SIP，以及實施新的合理可用的排放源控制技術(RACT)規則。

We believe these developments are good news for the long-term ClearSign business. I will temper that moment with a reminder that government and regulatory processes take time to be implemented, if at all, and the changes for state implementation plans and RACT rules are not due until late next year into early 2026.

我們相信這些發展對 ClearSign 的長期業務來說是個好消息。我將提醒大家，政府和監管流程的實施（如果有的話）需要時間，而州實施計劃和 RACT 規則的變更要到明年年底到 2026 年初才能完成。

Although on the positive side, customers in the effective areas and the regulators issuing permits know that these changes are on the horizon. So we should expect NOx requirements for new permits and opportunities to be pushed down ahead of the new regulations being formalized.

儘管有積極的一面，但有效區域的客戶和頒發許可證的監管機構都知道這些變化即將到來。因此，我們預計在新法規正式製定之前，新許可證和機會的氮氧化物要求將會降低。

Secondly, in Colorado, following the recent reclassification of federal ozone non-attainment severity for Denver and the North Front Range, Colorado Governor, Polis, sent a letter to the Executive Director of the Colorado Department of Public Health and Environment dated March 16, 2024, directing action for ozone and NOx reductions. This letter directs to these agencies to reduce NOx in the affected regions by 30% by the 2025 and by 50% by the end of 2030. Following this development about two weeks ago, we met in person with the senior staff of both the Department of Public Health & Environment and the Energy & Carbon Management Commission to introduce ClearSign Technologies to understand their planning process and to identify how we could support their NOx reduction initiatives.

其次，在科羅拉多州，繼最近對丹佛和北前山脈的聯邦臭氧未達標嚴重程度進行重新分類後，科羅拉多州州長 Polis 於 2024 年 3 月 16 日致函科羅拉多州公共衛生和環境部執行主任，指導減少臭氧和氮氧化物的行動。這封信指示這些機構到 2025 年受影響地區的氮氧化物排放量減少 30%，到 2030 年底減少 50%。大約兩週前發生這一事態發展後，我們親自會見了公共衛生與環境部以及能源與碳管理委員會的高級工作人員，介紹ClearSign 技術，以了解他們的規劃流程，並確定我們如何支持他們的氮氧化物排放減少措施。

Now turning to boiler burners. The commissioning of our large 1,200-horsepower, 2.5 ppm NOx burner brand in [zero] NOx for a recycling plant California is underway. This burner is installed, and as you would expect with this being the first burner of this scale, there are some details to work through. However, we believe we are close to having these worked out and look forward to having this planned in full operation and the formal source test completed. When in service, we believe that this will be a prominent development in the industry and a great reference installation for us.

現在轉向鍋爐燃燒器。我們的大型 1,200 馬力、2.5 ppm NOx 燃燒器品牌正在為加州的一家回收廠進行[零] NOx 的調試。該燃燒器已安裝，正如您所期望的，這是該規模的第一個燃燒器，有一些細節需要解決。然而，我們相信我們已經接近解決這些問題，並期待這項計劃的全面實施並完成正式的來源測試。當投入使用時，我們相信這將是該行業的一個顯著發展，並且對我們來說是一個很好的參考安裝。

We also have the first article of our new horizontally fired burner design being manufactured. If this burner performs as we expect it to, and as shown in our computer modeling, it will provide extremely low NOx, in short-length heaters and boilers. Bear in mind, our current boiler burner technology is optimized for 5G boilers in which the space for the flame is typically long and narrow.

我們也正在製造第一篇新型水平燃燒燃燒器設計。如果該燃燒器的性能符合我們的預期，並且如我們的電腦模型所示，它將在短長度加熱器和鍋爐中提供極低的氮氧化物。請記住，我們目前的鍋爐燃燒器技術針對 5G 鍋爐進行了最佳化，其中火焰空間通常又長又窄。

The first burner of this new design is for installation in a hot oil heater in Texas. The reason I've included this in this section is that we anticipate that the biggest market for this new burner will be water-tube boilers, a segment of the market that we have not been able to effectively pursue at this point.

這種新設計的第一個燃燒器安裝在德克薩斯州的熱油加熱器中。我將其納入本節的原因是，我們預計這種新型燃燒器的最大市場將是水管鍋爐，這是我們目前無法有效開拓的市場領域。

Our expectation is that we will be able to install burner in the fourth quarter this year, although this may be contingent on the coordination of the installation with the client's operations schedule. We are pushing to arrange this installation to be as early as we can because we already have several opportunities waiting for this new design to be demonstrated in service both in terms of repeat orders from existing customers and on potential new clients and covering both hot-oil midstream type processes or applications and water-tube boilers.

我們的期望是，我們將能夠在今年第四季度安裝燃燒器，儘管這可能取決於安裝與客戶營運計劃的協調。我們正在努力儘早安排這項安裝，因為我們已經有很多機會等待這一新設計在服務中展示，無論是現有客戶的重複訂單還是潛在的新客戶，並且涵蓋熱油中游類型工藝或應用以及水管鍋爐。

Other upcoming events related to our boiler burner line include industry demonstration that will be held in Santa Ana, California, next week. The investor-owned California utility companies fund energy efficiency research on available and near-future products and technologies. One of these programs is called statewide Gas Emerging Technologies or GET program, which is administered by a Southern California gas company through a contract awarded to ICF, a global consulting and digital services company.

與我們的鍋爐燃燒器系列相關的其他即將舉行的活動包括下週將在加利福尼亞州聖安娜舉行的行業演示。投資者擁有的加州公用事業公司資助現有和近期產品和技術的能源效率研究。其中一個計劃稱為全州天然氣新興技術或 GET 計劃，該計劃由南加州一家天然氣公司透過授予全球諮詢和數位服務公司 ICF 的合約進行管理。

The GET program's objective is to source and screen technologies, gather necessary technical information and data on potential efficiency gains to identify key market barriers to the adoption of these technologies and develop strategies to overcome such barriers. ClearSign is pleased to have been selected to participate in this important program. We have completed a study that formally tested and quantified operating efficiency improvements that will translate into fuel savings at the ClearSign Core boiler burner technology compared to a typical industry standard ultra-low-NOx burner.

GET 計劃的目標是尋找和篩選技術，收集必要的技術資訊和有關潛在效率提升的數據，以確定採用這些技術的主要市場障礙，並製定克服這些障礙的策略。ClearSign 很高興被選中參與這項重要計劃。我們已經完成了一項研究，正式測試和量化了運行效率的改進，與典型的行業標準超低氮氧化物燃燒器相比，這將轉化為 ClearSign Core 鍋爐燃燒器技術的燃料節省。

The test method was developed by independent third-party engineers and the testing was also overseen by independent third-party engineers or contracted directly by the GET program. We are not able to give results today as the work and data is owned by the GET program, and they have not released a report at this time. However, I can say that the results were pleasing both in terms of efficiency and NOx emissions demonstrated. We plan to provide access to this report on our website when available and also provide notification when it is issued and a link on LinkedIn.

測試方法由獨立第三方工程師開發，測試也由獨立第三方工程師監督或直接由 GET 專案承包。我們今天無法給出結果，因為工作和數據歸 GET 程式所有，而且他們目前還沒有發布報告。然而，我可以說，無論是在效率還是氮氧化物排放方面，結果都是令人滿意的。我們計劃在可用時在我們的網站上提供對該報告的訪問，並在報告發佈時提供通知以及 LinkedIn 上的連結。

The study results and a physical demonstration of the burner in operation will be presented at the industry demonstration next week. We are expecting approximately 70 attendees including many from the various California air regulators, California refineries, both super major and local, national energy and infrastructure companies, engineering companies, and national boiler operators.

研究結果和燃燒器運行的物理演示將於下週的行業演示中公佈。我們預計將有大約 70 名與會者，其中許多人來自加州各空氣監管機構、加州煉油廠（包括大型和地方煉油廠）、國家能源和基礎設施公司、工程公司以及國家鍋爐營運商。

One final project update on our boiler burner line. In February this year, we announced an order, which is the first of four burners to a California plant. That first burner is in production, but the client schedule has moved out a little and that burden is now scheduled to ship at the end of the year and to be installed by the end of the first quarter of 2025. As usual, we will keep you informed as that project progresses and as we get dates for the remaining three burners for that project.

我們鍋爐燃燒器生產線的最後一個專案更新。今年二月，我們宣布了一份訂單，這是加州工廠四個燃燒器中的第一個。第一個燃燒器已投入生產，但客戶的時間表已稍微推遲，現在計劃在今年年底發貨，並在 2025 年第一季末安裝。像往常一樣，隨著該專案的進展以及該專案剩餘三個燃燒器的日期，我們將隨時通知您。

And finally are regarding boiler burners, on the last call, I mentioned that our China certification project has seen some delays. While some progress has been made, I do not have any significant updates regarding the project schedule at this time.

最後是關於鍋爐燃燒器，在上次通話中，我提到我們的中國認證專案出現了一些延誤。雖然已經取得了一些進展，但目前我沒有關於專案進度的任何重大更新。

In closing, it is worthwhile to look at what we are doing at a capsule level and also at a strategic or high level. The updates I have given here are mostly tactical individual product updates, customer demonstrations, et cetera. At a strategic level, there are areas of focus that are consistent, and it is useful to articulate these to provide a framework to understand what we are doing and to gauge progress.

最後，值得從膠囊層面以及策略或高層層面審視我們正在做的事情。我在這裡給出的更新主要是戰術性的個別產品更新、客戶演示等等。在策略層面上，有些重點領域是一致的，闡明這些領域有助於提供一個框架來理解我們正在做的事情並衡量進展。

Our top-line objective is to increase sales and profitability both in the near term but also increasingly in the future. To do this, we need to continue developing products that provide value to our customers and because our technology is new, we need to develop our reputation and familiarity in the market. In working towards this objective, we have discussed for new orders, especially the process burner order for a chemical company in Texas, likely in the most significant United States market for us in midterm and also the engagement of a leading heating manufacturer and engineering firm, who is actually our direct customer for this project and is now getting first-hand experience of our products and working with ClearSign.

我們的首要目標是在短期內提高銷售額和獲利能力，並在未來不斷提高。為此，我們需要繼續開發為客戶提供價值的產品，並且由於我們的技術是新技術，因此我們需要提高我們在市場上的聲譽和熟悉度。在實現這一目標的過程中，我們討論了新訂單，特別是德克薩斯州一家化學公司的工藝燃燒器訂單，這可能是我們中期最重要的美國市場，以及一家領先的供暖製造商和工程公司的參與，他實際上是我們該專案的直接客戶，現在正在獲得我們產品的第一手經驗並與 ClearSign 合作。

Under this general seeding the industry objective, we also have carried out a large-scale product demonstration in the Zeeco facility for process burners last week. And we'll be doing another demonstration for our 5G order product line in California next week.

根據這個總體播種產業目標，我們上週還在 Zeeco 製程燃燒器工廠進行了大規模產品展示。下週我們將在加州再次展示我們的 5G 訂單產品線。

We're noting our relationship with Kern Energy as evidenced by press releases from both us and them regarding our installations there. And we will continue to publish news and journals articles related to our installations with Kern Energy throughout the remainder of this year.

我們注意到我們與克恩能源公司的關係，我們和他們關於我們在那裡安裝的新聞稿就證明了這一點。我們將在今年剩餘時間內繼續發布與我們與 Kern Energy 的安裝相關的新聞和期刊文章。

In support of our continued business growth, we are investing time and energy in bringing new products to market and developing new markets themselves. The new products that are most advanced are our new process burner capable of burning fuel gas ranging from the fuel gases in use today up to 100% hydrogen while maintaining the same market-leading NOx levels, enabling the burners to be installed now and our customers to be ready for new higher hydrogen fuels as those become available. We are seeing a lot of interest in this new burner as evidenced in the level of engagement during the demonstration last week. And as mentioned, we are starting to provide sales proposals for this burner.

為了支持我們業務的持續成長，我們投入時間和精力將新產品推向市場並自行開發新市場。最先進的新產品是我們的新型製程燃燒器，能夠燃燒從當今使用的燃氣到 100% 氫氣的燃氣，同時保持市場領先的氮氧化物水平，使燃燒器能夠立即安裝，我們的客戶也能使用為新的更高氫燃料做好準備。我們看到人們對這款新型燃燒器很感興趣，上週演示期間的參與程度證明了這一點。如前所述，我們開始提供該燃燒器的銷售建議。

The second new product line is the new horizontally fired burner, with the first of this new technology currently in fabrication and plans to be installed in the hot oil heater in Texas. When successfully installed and commissioned, this burn is expected to open up the water-tube boiler market for us in addition to the midstream heaters in the process burner market.

第二條新產品線是新型水平燃燒燃燒器，目前正在製造中，並計劃安裝在德克薩斯州的熱油加熱器中。當成功安裝和調試後，除了製程燃燒器市場的中游加熱器外，該燃燒器預計將為我們打開水管鍋爐市場。

We also already have interest in this burner, just waiting on the demonstrated operation of this first article in Texas. We also maintain an ongoing portfolio of early-stage development projects and are receiving multiple customer requests for new variations of our technology, some of which we continue to develop and some of which will get dropped as we work through the standard technical business and marketing assessments of these different opportunities.

我們也已經對這款燃燒器產生了興趣，只是等待第一篇文章在德克薩斯州的演示操作。我們也維持著早期開發專案的持續投資組合，並收到多個客戶對我們技術新變體的請求，其中一些我們將繼續開發，其中一些將在我們完成標準技術業務和行銷評估時被放棄這些不同的機會。

In the same category of development for the future, we are also considering the development of our resources such as the recent investment in computer modeling capabilities. We also engaged in developing market access for the future. I talked briefly about our engagement for the regulatory leadership in Colorado, which we will continue to work on. We are also in frequent contact with the California Air Resources Board, the body that oversees the air districts in California and also members of the TCEQ in Texas.

在未來的同一類別的發展中，我們也在考慮我們的資源的發展，例如最近對電腦建模能力的投資。我們也致力於開發未來的市場准入。我簡要地談到了我們對科羅拉多州監管領導層的參與，我們將繼續致力於這項工作。我們也經常與加州空氣資源委員會保持聯繫，該委員會負責監督加州空氣區域，也是德克薩斯州 TCEQ 的成員。

We will appreciate that to get all this done in addition to our ongoing normal business operations will take a lot of time and effort. We are conscious of the cost of running ClearSign, and we only add to our headcount when absolutely needed. I greatly appreciate all the hard work and dedication of our team.

我們將理解，除了我們正在進行的正常業務運作之外，完成所有這些工作將需要大量的時間和精力。我們意識到運行 ClearSign 的成本，並且僅在絕對需要時才增加人員數量。我非常感謝我們團隊的辛勤工作和奉獻精神。

And with that, I'd like to open up the call for questions. Please, operator?

至此，我想開始提問。請問，接線生？

Thank you. (Operator Instructions)

謝謝。（操作員說明）

Amit Dayal, H.C. Wainwright.

阿米特·達亞爾 (Amit Dayal)，H.C.溫賴特。

Hey. Good afternoon, everyone. Thank you for taking my questions. So Jim, I mean it's good to see all the progress you guys are making, and it's almost now getting hard to track of all the sales and your pipeline. Could you just maybe help us a little bit and give us a dollar sense of how much you have in hand as orders that you will be shipping out over the next few quarters, and what is in the pipeline?

嘿。大家下午好。感謝您回答我的問題。吉姆，我的意思是很高興看到你們所取得的所有進展，但現在幾乎很難追蹤所有銷售和管道。您能否為我們提供一點幫助，讓我們了解您手頭上有多少訂單將在未來幾季發貨，以及正在籌備中的訂單？

Yes. Thank you, Matt, and thank you for your question. I think to start, I'll rephrase -- I think the general numbers we've given for everyone are -- our products obviously cover boiler burners and process burners and vary in size. But to keeps things simple, a good estimate of the sales price or revenue per burner is $100,000 per item.

是的。謝謝你，馬特，也謝謝你的問題。我想首先，我要重新表述一下——我認為我們為每個人提供的一般數字是——我們的產品顯然涵蓋鍋爐燃燒器和工藝燃燒器，並且尺寸各不相同。但為了簡單起見，每個燃燒器的銷售價格或收入的良好估計是每件產品 100,000 美元。

So I can then talk to the right the number of burners, both we have in our existing projects and then certainly talk a little bit about what we see in the future. So as I think on the process burner line, the two big orders, I mentioned the 20 burners, which we expect to ship to California late in September -- so there's 20 burners there. We have the engineering order, which we fully expect to progress for the chemical facility down in Texas, that's 26 burners. There's 46 in total with just those two orders.

因此，我可以正確討論我們現有項目中的燃燒器數量，然後當然會談論我們未來看到的情況。因此，當我想到工藝燃燒器生產線時，兩個大訂單，我提到了 20 個燃燒器，我們預計將在 9 月底運送到加利福尼亞州 - 所以那裡有 20 個燃燒器。我們有工程訂單，我們完全希望德州的化工廠能夠取得進展，該工廠有 26 個燃燒器。光是這兩個訂單，總共就有 46 個。

There's two heaters that we've mentioned for Kern Energy. The engineering for those is just about complete. There are a handful of boiler burner and hot oil burner or hot oil heater burners in progress. We obviously have the four-burner plan with one single client in California.

我們提到了 Kern Energy 的兩種加熱器。這些工程即將完成。有少數鍋爐燃燒器和熱油燃燒器或熱油加熱器燃燒器正在開發中。顯然，我們與加州的一位客戶制定了四燃燒器計劃。

So I think that's majority of the standard burner orders. Obviously, there's engineering and service and spare parts and other work that we do. But that's, I think, a good framework to assess the revenue to be recognized based on the work that we have to date.

所以我認為這是大多數標準燃燒器訂單。顯然，我們從事工程、服務、備件和其他工作。但我認為，這是一個很好的框架，可以根據我們迄今為止的工作來評估要確認的收入。

Going forward, I'm always conscious about a bird in the hand as opposed to what's out there. But we are seeing a lot of interest in the hot oil heater line, and we're expecting that to progress. We have, I mentioned, ongoing relationship with Kern Energy, and there's certainly interest there.

展望未來，我總是專注於手中的鳥，而不是外面的鳥。但我們看到人們對熱油加熱器產品線很感興趣，我們預計這會取得進展。我提到過，我們與 Kern Energy 保持著持續的關係，而且肯定有興趣。

I think some of the more exciting things for me as I look further out to the future, of the ongoing conversations with a company like Birwelco, the engineering company involved in the order we've just announced down in Texas, but also that we are getting drawn and/or invited to enter discussions at the feed stage of some very logics. The feed stage is really the first financial and feasibility assessment that our customers go through when developing projects.

當我展望未來時，我認為一些更令人興奮的事情是與 Birwelco 這樣的公司正在進行的對話，這家工程公司參與了我們剛剛在德克薩斯州宣布的訂單，而且我們正在在某些邏輯的提要階段被吸引和/或被邀請參與討論。回饋階段實際上是我們的客戶在開發專案時經歷的第一個財務和可行性評估。

These are typically going to be two years out, something in that timeframe, sometimes even more. But the important thing is that's how you load the pipeline and that's where the growth and the long-term growth of the company comes from is by getting involved in these really big projects early. For me, the reason that's encouraging one is for that pipeline, but also, it's an indication of the growing recognition and trust of ClearSign's Technology out there in the market.

這些通常需要兩年的時間，有時甚至更長。但重要的是，這就是你如何加載管道，這就是公司的成長和長期成長的來源，那就是儘早參與這些真正的大項目。對我來說，令人鼓舞的原因是這條管道，而且，這也顯示市場對 ClearSign 技術的認可和信任日益增長。

Understood. Thank you. And just to clarify, the hot oil heater opportunities tied to the horizontal process burner offering that you are developing?

明白了。謝謝。澄清一下，熱油加熱器的機會與您正在開發的水平燃燒器產品相關嗎？

That's correct. We've used several names, and we're actually using that as more of a generic name. There are a number of different processes, but it's the -- there's a number of horizontally fired heaters is in the process industries and gas processing industry. Hot oil heaters, glycol heaters, there's a number different process -- we've used the term hot oil heaters generally to describe those horizontally fired single burner forced draft burner applications.

這是正確的。我們使用了幾個名稱，實際上我們更多地將其用作通用名稱。有許多不同的工藝，但在加工工業和氣體加工工業中有許多水平燃燒的加熱器。熱油加熱器、乙二醇加熱器，有許多不同的過程 - 我們通常使用熱油加熱器一詞來描述那些水平燃燒的單燃燒器強制通風燃燒器應用。

Okay, got it. So you said you guys are probably getting a little stretched with all of the activity in terms of business development and deployments going on. Are you looking to add more people? And how should we think about operating costs on a quarterly basis going forward?

好的，明白了。所以你說你們可能對正在進行的業務開發和部署方面的所有活動感到有點緊張。您想增加更多人嗎？我們應該如何考慮未來每季的營運成本？

We currently have one -- and I use this as an advertisement as well -- we currently have one open job posting out. We are currently viewing resumes for an engineer to both assist with our test furnace and installation work out in the field with our clients. That is the only current open position we have. Obviously, as more orders come in, we will monitor the load on that project management team and maybe even on the engineering team.

我們目前有一個——我也用它作為廣告——我們目前有一個空缺職位發布。我們目前正在查看工程師的履歷，以協助我們的測試爐和與客戶一起進行現場安裝工作。這是我們目前唯一的空缺職位。顯然，隨著更多訂單的到來，我們將監控專案管理團隊甚至工程團隊的負載。

Part of the reason also that we are focused on that engineering team. It's not only that we need to execute the orders that we have, but that I want to ensure that our senior engineers, who are also very effective salespeople maintain the timeliness schedule to focus on sales and those customer conversations to bring orders in and do not get consumed in order execution and engineering because of a low staffing level. And you'd appreciate we have to have people in-house and trained up so that they're effectively able to do that work.

部分原因是我們專注於工程團隊。我們不僅需要執行現有的訂單，而且我想確保我們的高級工程師（也是非常高效的銷售人員）保持及時的時間表，專注於銷售和客戶對話，以帶來訂單，而不是由於人員配備水平較低，因此被消耗在訂單執行和工程設計上。您會感激我們必須讓內部人員接受培訓，以便他們可以有效地完成這項工作。

So we do keep our workforce to a low level. We also have to balance that to make sure that we have the right people to do the job and not take our foot off the gas and focus on the outreach and the sales activities that are so important to us.

因此，我們確實將勞動力保持在較低水準。我們還必須平衡這一點，以確保我們有合適的人來做這項工作，而不是放鬆警惕，專注於對我們非常重要的外展和銷售活動。

I think in terms of just looking at overhead costs, these positions are positions that we add as part of the growing business. So they're not -- I wouldn't classify them a overhead-style cost. They are very much a function of the increasing workflow.

我認為，就管理成本而言，這些職位是我們作為業務成長的一部分而添加的職位。所以它們不是——我不會將它們歸類為管理費用。它們在很大程度上是不斷增加的工作流程的函數。

Understood. And just last one for me, these demonstrations with Zeeco that you are doing for clients from what kind of response are you getting from that? And how is this helping sort of maybe improve your sales cycle? Just any color on how you're leveraging these demonstrations to get more visibility with customers?

明白了。對於我來說，最後一個是您與 Zeeco 一起為客戶做的這些演示，您從中得到了什麼樣的反應？這對改善您的銷售週期有何幫助？關於您如何利用這些演示來提高客戶知名度的任何顏色？

Yes. Absolutely. I mean the whole purpose of doing this is to show what we can do to the industry to get people to see it in person and seeing is believing. Often, I mean -- this demonstration last week was a big demonstration. It was three burners firing in a test furnace; that is not normal. Most tests are done with just a single furnace -- single burner.

是的。絕對地。我的意思是，這樣做的全部目的是向業界展示我們可以做些什麼，讓人們親眼目睹，眼見為憑。我的意思是，上週的示威經常是大型示威。這是在測試爐中燃燒的三個燃燒器；這不正常。大多數測試僅使用單一熔爐（單一燃燒器）完成。

I think it's important to note the people that came in made this trip dedicated, especially for this purpose. They were not in town for other reasons. They've flown across the country to be here with us. There was a lot of engagement. We had a full day of active conversations, including the fine demonstration of pursuit envigored through a dinner that evening.

我認為重要的是要注意參加這次旅行的人們，特別是為了這個目的。由於其他原因，他們不在城裡。他們飛越全國來到這裡和我們在一起。有很多參與。我們進行了一整天的積極交談，包括那天晚上透過晚餐所進行的精彩追求。

The burners ran well. We got to show the hydrogen burner. There was a lot of conversation around the hydrogen burner and the hydrogen burner performance.

燃燒器運作良好。我們必須展示氫氣燃燒器。關於氫氣燃燒器和氫氣燃燒器性能進行了許多討論。

We had a lot of ClearSign staff amongst the customers, as you would expect, and a lot of one-on-one conversations. And we picked up and got engaged in a lot of conversations with our customers, where they were asking how could we help them with their problems. And I think we've picked up a lot of maybe not immediate opportunities, but I think a lot of initiatives that have a very good potential of turning into future opportunities from those conversations.

正如您所期望的那樣，我們的客戶中有很多 ClearSign 員工，並且進行了許多一對一的對話。我們與客戶進行了很多對話，他們詢問我們如何幫助他們解決問題。我認為我們已經獲得了很多可能不是立即的機會，但我認為許多舉措很有可能從這些對話中轉化為未來的機會。

And just having that dialogue and ongoing conversations with your customers always keeps you at the front of their mind. And while there's no specific opportunities we're bidding immediately as a result of that conference, I am very confident that we will get more engagement and opportunities as a result of that demonstration.

只要與客戶進行對話和持續對話，就能始終讓您成為他們的首選。雖然那次會議後我們沒有立即競標具體的機會，但我非常有信心，我們將因這次演示而獲得更多的參與和機會。

(Operator Instructions)

（操作員說明）

The operator, I'm going to go ahead and read. We've got a couple via e-mail. So I'm going to read the first question. You've increasingly highlighted third parties like heater manufacturers in your recent press releases about sales. Can you talk about how many of these relationships we may have and how many of these they exist?

接線員，我要繼續閱讀。我們透過電子郵件收到了一對夫婦。所以我要讀第一個問題。您在最近的銷售新聞稿中越來越多地強調第三方，例如加熱器製造商。您能談談我們可能擁有多少這樣的關係以及它們存在多少嗎？

That's a good question. I will answer that the best I can. So it's probably good to -- just to step back a little bit for everyone to explain how the heater manufacturers, the engineering companies fit into the industry. So you think of a typical client -- pick one (technical difficulty). Maybe just say Chevron has a heater. And if they want to buy a heater, they will obviously go to a heater manufacturer, and the heater manufacturer would then buy burners to put into the heater and supply as part of the package.

這是個好問題。我會盡力回答。因此，退一步讓大家解釋一下加熱器製造商和工程公司如何融入這個行業可能是件好事。所以你想到一個典型的客戶—選擇一個（技術難度）。也許只是說雪佛龍有一個加熱器。如果他們想購買加熱器，他們顯然會去找加熱器製造商，然後加熱器製造商會購買燃燒器並將其放入加熱器中並作為包裝的一部分提供。

Or if they own that heater and require work on the heater that changes purpose or to meet new emissions requirements, they would typically go to one of those heat manufacturers or heater engineering companies and outsource the work to them. And that company would then have a very prominent role in redesigning the heater and selecting the equipment.

或者，如果他們擁有該加熱器並需要對加熱器進行工作以改變用途或滿足新的排放要求，他們通常會去找這些供熱製造商或加熱器工程公司之一併將工作外包給他們。然後，該公司將在重新設計加熱器和選擇設備方面發揮非常重要的作用。

During our remarks a few minutes ago, I talked to some extent about Birwelco. Birwelco is a really good example of a very prominent heater manufacturer. They supply heaters. They do the engineering, and they were very influential in the 26-burner order that we announced in that role.

在幾分鐘前的演講中，我在某種程度上談到了 Birwelco。Birwelco 是一家非常著名的加熱器製造商的一個很好的例子。他們供應加熱器。他們負責工程設計，並且對我們宣布的 26 個燃燒器訂單非常有影響力。

Yes, I do about them a lot because effectively, they act as a sales channel for us. And as we sell products and new heater companies get involved in a ClearSign project, that's another heater company that's aware of what we do and then can use our burners as part of their solution that they are constantly trying to sell to their customers to get business for themselves.

是的，我經常使用它們，因為它們實際上充當了我們的銷售管道。當我們銷售產品並且新的加熱器公司參與ClearSign 專案時，另一家加熱器公司了解我們的工作，然後可以使用我們的燃燒器作為他們的解決方案的一部分，他們不斷嘗試向客戶出售該解決方案以獲得業務為了他們自己。

So I need to go back and look through details, but we're probably at a handful of half a dozen heater companies that we've worked with to date. I think that might be up by one or two but somewhere in that order. That's the easy part of the question. I think the question as to how many are out there is a lot more open ended.

所以我需要回去查看細節，但迄今為止我們合作過的加熱器公司可能只有六家。我認為這可能會增加一到兩個，但在這個順序中的某個地方。這是問題中最簡單的部分。我認為關於有多少人的問題是一個更開放的問題。

There's probably 10 to 15 heater and heater engineering companies that are frequently engaged in the US market. But depending on how big the companies you include are and where they are, the number will actually be much more than that. And there are a lot of smaller bespoke engineering and heater companies as well. So that last part is, to be honest, difficult to put a number to.

經常涉足美國市場的加熱器和加熱器工程公司大概有10到15家。但根據你納入的公司有多大以及它們在哪裡，這個數字實際上會遠不止於此。還有許多較小的客製化工程和加熱器公司。所以說實話，最後一部分很難給數字。

The second question, in your press release today, you stated an event in California next week to unveil independent data. Can you give more color?

第二個問題，在您今天的新聞稿中，您提到下週將在加州舉行活動，公佈獨立數據。可以給更多顏色嗎？

Well, first of all, thank you for reading the press release. So this project, in some ways, is similar to the demonstration we ran at Zeeco last week with some very significant business. First of all, fundamentally for us, it's focused on our boiler burner technology rather than our process burner.

首先，感謝您閱讀新聞稿。因此，這個專案在某些方面與我們上週在 Zeeco 進行的演示類似，涉及一些非常重要的業務。首先，從根本上來說，對我們來說，它關注的是我們的鍋爐燃燒器技術，而不是我們的製程燃燒器。

We have a -- or been part of an ongoing burner comparison study that's being run by the California GET program to look at technologies to reduce NOx emissions and to increase burner efficiency. Essentially increasing efficiency is decarbonization. It's the savior for, and that means less carbon. So that is really the focus of this program is how can you decarbonize the boilers and achieve and maintain these exceptionally low NOx numbers.

我們已經或參與了一項正在進行的燃燒器比較研究，該研究由加州 GET 計劃進行，旨在研究減少氮氧化物排放和提高燃燒器效率的技術。提高效率的本質是脫碳。它是救世主，這意味著更少的碳。因此，該計劃的真正重點是如何使鍋爐脫碳並實現並保持極低的氮氧化物含量。

The program was run by GET and funded by them. The engineers were paid by GET. It was hosted at a partner California boiler's site. The data is owned by GET. They will be releasing a report, we believe, sometime in early September. And please follow us on LinkedIn, we will put announcements of that out. We will put that report out on our website.

該計劃由 GET 運行並由他們資助。工程師的薪水是由 GET 支付的。它是在加州鍋爐合作夥伴的網站上託管的。數據歸 GET 所有。我們相信，他們將在九月初的某個時候發布一份報告。請在 LinkedIn 上關注我們，我們將發布相關公告。我們將把該報告發佈在我們的網站上。

Also, the demonstration next week is the ClearSign technology operating in a boiler is one of the concluding activities of this GET program. They have managed this. They have been the one primarily distributing the invitee list and maintain the list.

此外，下週將展示在鍋爐中運行的 ClearSign 技術，這是該 GET 計劃的結束活動之一。他們已經做到了這一點。他們是主要分發受邀者名單並維護名單的人。

We have -- I think last count today, we had up to 80 attendees registered for that. Some of them were the global refinery engineers that came into our Zeeco demonstration. Some of those were actually going out to California, because they're also interested in the boiler technologies. So we got to talk about that at the same time.

我想今天的最新統計顯示，我們有多達 80 名與會者註冊參加了該活動。其中一些是參加我們 Zeeco 演示的全球煉油廠工程師。其中一些人實際上去了加利福尼亞，因為他們也對鍋爐技術感興趣。所以我們必須同時討論這個問題。

But this is a big deal. And especially the results, I don't have the exact data to share today. But having a burner that A, the decarbonization is shown to be more efficient and has this leading NOx level for a burner is a really big deal in my opinion.

但這是一件大事。尤其是結果，我今天沒有確切的數據可以分享。但在我看來，擁有 A 級燃燒器，脫碳效率更高，燃燒器具有領先的氮氧化物水平，這確實是一件大事。

Thank you. There are no further questions at this time. I would like to turn the conference back over to ClearSign's CEO, Mr. Jim Deller, for any closing remarks.

謝謝。目前沒有其他問題。我想將會議轉交給 ClearSign 執行長 Jim Deller 先生發表閉幕詞。

Well, thank you, operator, and thank you to everyone for your interest and taking the time to participate today. Look forward to updating you regarding our developments and speaking with you all on our next call.

好的，謝謝運營商，也謝謝大家今天的興趣和抽出時間參加。期待向您通報我們的最新進展，並在下次電話會議上與大家交談。

This concludes today's call. Thank you for participating. You may all disconnect.

今天的電話會議到此結束。感謝您的參與。你們都可以斷開連線。