separately, us ClearSign's engagement. and has customer commercialization last you, without of the for some Matthew, say the Admittedly, quarter everyone a update investor This lines not sadness. been though technical thank product and and progress encouragement today second multiple as quarter XXXX stages call. for joining past through moved mix and weeks you Thank frustration I we been of have will some great
gave review of financial second quarter and want to all many contribution. sure we his the saddened will behalf to passing CFO, and our great continues friend to start of ClearSign mourn our Board all Brian a sincerest employees, ClearSign, our condolences XX-Q, of data Fike the on family. reported I'm of Fike. passing the many announcement community Brian And his and our to was Directors recognize I the years Collectively, remember colleague you miss passed deeply him. to that of Before this end and Brian and to extend that July. at away saw by Brian's are I our Brian entire the loss. his company want we we I in
succession, maintain and regarding have reassurance staff competent our function some engaged strengthen very temporary systems. we further develop our For finance and professional to
firm permanent find team. of working However with same we nationwide are at to our time a a next leader recruitment finance the
that, the major overview. discussion update. operational installations. giving projects to call our and our financial our reported we open related data, up and then the will business America well overview In filed with major financial answers. on performance significant Reviewing remarks, an burner will move for will our two business address our also the super provide since business, burner update remarks, our both operational process where I on we will I today, made in the advances developments as boiler I call China have to our my international and an XX-Q. of and I'll as recently refiners as move regarding development the will general the and some After products. I watertube our questions last In in our with off for On and closing North then start we our topics, firetube made call. the have
Our XX, XXXX. $X.XX was net million compared same I operations, $X.XX the shortly. period to into in quarter on cash XXXX, temporary for the million, ended will in detail June used go increase this
our also scale. to to the the of cash quarter done Our approximately behind and some projects details these the be has to key to $XX.X do million were has $XX.X industrial very equivalents cash numbers, and we it prove quarter million first of compared to approximately want certain give be and to at I because continue be of XXXX. expenditures, at technologies the conscious second plus end this XXXX, meaningful of at end
detail the necessary secondly, are burner is our of As our watertube The but go is process lines key we the the pushing among that increased are in testing seeing not the that I operating pass. of boiler will activities and management the into of our commercialization product These will change these adoption to are tests industry, on not the will our permanent this firetube technology be short-term, and later new in regarding these we more technology. point are proving a Primary expansion proving cash activity, these in product pass, expenses activities a ahead nonetheless, will burner call. while complete and philosophy activity are progress. a in so a these for step consumption, them. necessary increased capability this
filing, just second recent or for quarter our by to stated period increased in operating the As XX% expenses year. $XXX,XXX the compared same last under our XX-Q
the an severance second in as accrual part payments our were quarter new the earlier, position finance to therefore team agreement. recruitment for of accrual our to finance temporary agreed staff during a included to addition second and as we in timing, cost required and the for additional costs clarify finally, of referred In maintain leader quarter. agreed these until the To filled. is And Mr. with increased for to made and Fike his accruals function payment a testing are April the an separation for payments
XX, last average per an $X.X three the $X.X of at totaled issued noted ATM of XX, million. XXXX. price As common an X,XXX,XXX in It of QX. that days should average and stock has program Gross our ATM million June received and from of $X.XX sold proceeds be sold in in our price the June of quarter in $X.XX. June in an common first under but shares included cash sold million XX,XXX,XXX Shares approximated second quarter, as the the program, approximately from program XX, totaled of ATM shares net the stock ended months settled the company two proceeds of of cash at aggregate XXXX, shares were There $X.X its approximately share. XXX,XXX XXXX, outstanding
our XXXX is and any balances revenue product technology. our focus balance we'll in confidence well and I with we We our without now working capital and sufficient us start position sheet. with from other have quarter our that burner process lines carry And have into available change major financial will ending sources. address to and
hold, the we were discussed turnaround for not plans, details window reflection, in ended the As were encouraged to early we and issued on you the project the release put this include which had change seen demonstrations at call of have for and the verbal the possibly will required all lot notification to day finalized. our make have ExxonMobil of both because This to a despite given performance from a we in Upon burners to the time in final XXXX surprise burners, to and for schedule stakeholder delivery hold the arrangements on very August, testing September expecting the all been was be on press before, disappointing the news a ClearSign. about. a Xrd,
technology emphasis to burners of are fuel by including to the given process capable our hydrogen XX% required the We now running our point on content. great refineries, blend up virtually burner have development of any that
can human that unique control. up of when A demonstrated the turned know. based refinery systems have ppm and range down match situated so with as are NOx refinery operating exceed they without X our down usable together and burners of can We operating most close all capabilities and on have traditional a engineers or modulate that almost They capable input other. each the demands run burners itself in that touching challenge our
fuel to take XX% these from between any with process firing a to in cold design customers quantitative X:X terminology in of to burners especially gases capabilities from Core engineering from those can on full ppm, including light when industry, of of heater ppm burners be and want we down turn-down to make and up the the range operating guarantees of conditions because content Depending and are non-industry details into operate smoothly rate blends the hydrogen ClearSign to the start design conditions, furnace now they off everyone typically aware on or firing the and I over fuel will important. to rate. and including X go enable The natural companies For minute that on this means what under of a range just run of XXX% gas ranging described. XX% is a X air. fresh NOx
site the from been of were yet did with NOx take company. outside those But same performance, operational burner own which measurement released. measurements our infrastructure formal time, third-party report emissions at the not project Regarding our has proven we consistent multi the
just indicated heavy X X fuel in NOx we guarantee to of were even over performance a project normal with the low full and normal We on run alone, measurements addition ppm our waste burners believe hydrocarbon, that these ppm would the that better. For be to gas pressure fuel rate, stream flowing is NOx gas.
the is both very that our and the of our are development remains strong, technology. of relationship with looking Zeeco As with our forward believe we Zeeco, capabilities We partner and facility testing test to this that business. our are developing in familiar they run
in burners seeking interest due in site technology, ability both We its high and discussions our great for at attributes. intensity have confines both enclosed to are refiners and major multi attracted control and function NOx our and global with to
global significant and the Europe site to Europe. shipped, year. refiner occur in the is early has for company fourth place. of also first the first the scheduled be supermajor projects global on process installation is in burner other the been ongoing customer of this up, project have in This quarter ready and the will burner which in and to for We The supermajor fire refining
solving extent achieved. is for trial that need results them that we're While run make Oil burners for respective do in within on. full forward the technology us, good this seamlessly. California. and South we I'll the installed earlier to by by not report which has any provided continues installation particularly infrastructure gave technical announcement and this review been know data in Coast The news we assess customers We operating is that when company existing of their to for also customer if by their we an to the the requested this I District. anything It consistently. to Air in the testing do World to at Installation our our following prospective for the seek required And startup, plans, has a will to inclusion of heater client for The for and from refineries of we The look And it know this in and made independent understanding below is the involved this will the project engineering do rate reduction company Europe, that recorded completing pass at normal a my is customers. be end NOx operate Fortune learn of formal opportunity period. groundbreaking XXX referrals at shown references for official, aware new when digression. some Management quite emissions If to have the period this we our announcement them still the continue customers. Quality that guarantee,
regular We are contact with Oil. in World
be feasibility their this the anticipated three As modify And need And the original as is startup control the is those optimized during as next first of we year. more and to as mentioned are to earlier of planning, are address budgeting the who In to to are original general, different with or be previously, an technical interest year. this shuts commercial active quarter down. This and we by condition part seeing to mix project, planning technology. looking in future they refinery when burners needs, our issues of to well those as more clients a return we assessing options early in hindered burners were processes and studies.
industry. ClearSign’s of I the great of eyes awareness As we believe have there's said capabilities a before, the in
nature recognize of to most and to be one installations, need that case success, will also that powerful projects similar attributes, especially worth noting and references, Zeeco, of collaboration and proficient anticipate conservative our industry. we we the have successful who need knowledge supportive all also with We our partner. be able supplied what studies success considering breed to provide to sales been It continue that being is of through a our the aforementioned very
relationship this of coming which touch later verticals, one provided will commentary. in in fact, on other In up has benefits my I
Turning the to At burner of our from the last and shift attracting event photographs LinkedIn, site to worked completed, visitors other the to been new burner, showing conducted burner fuel went a Valley. industries the Boiler were well installed the below in range event operation fabricated has fabricated The supply XXX with many tune finally a horsepower burners. and the of of and California wide the California the State by of third-party where since company the updates. controls. That together boiler this demonstration in gas California awaiting performance local call, ppm burner on very XX share The system including We of The posted time we Joaquin of our has verified some over demonstration customer independently at arrived Boiler. the San first analyzer firetube center NOx X.X screen a regulatory were been gas from authority. to well, the Boiler burner burner California fine we source will and the testing burner Boiler. reference since Ultimately, boiler California multiple which meeting the led requests by been giving firsthand coal also This milk has firm a ongoing our of collaboration and a our sales operational ClearSign able share we for and relocated, the obtain processing efforts. To this great to be being product we site. also firetube and larger horsepower to marketing proposals. a boiler is a demonstration with for now Boiler delivered have providing expand bigger which California the burner. are burner burners range, into local the to ability requirements. unit provides This currently a and a regulatory a demonstration plant, much boiler. and being and support future fabricated is us service owned And to set The is as our a XXX data in second Visalia for installed experience and much burner installed California boiler rental customer Boiler’s rental up USA
larger burner anticipating are catalytic control burner NOx requirements and Even level. could that the provide event of holding audience with This in operation critical plans We substantially to year. operate as is of to show horsepower our size SCRs, this burner units, to in outside potential a addition regulations XXX customer October has there demonstration the the in comfortably operate and near of Joaquin or emissions this other San for that interest existing demands, and below ammonia A.K.A cost above selective the technologies of this we from believe Joaquin them operational avoid Valley to San and boilers handling NOx require California to capability size to new X.X maintaining capability Valley urea ppm reduction this in the are customers. a the region emissions required value great with no the and installing below burner and
enforced long in we well-established emission As expect and this compliance deadlines the this California has It regulations also helps closer, operation to partner environmental region. Boiler our client for are for and grow. list demand that a technology get a
rolling limitations similar us China. then to the build as maintain also where to and it to for our to allows personnel burners technology provide and China work them traction test get in own makes overall burners China USA severe we on to our COVID into progress for to Aside in enables This technical certification. ability work resources experiencing despite in burners difficult optimize in in from this market these and have out us California, the favorable
to he week been three to our travel speak mandatory during Asia, ClearSign a enter today, the country on Manny a process COVID of as As I that working confinement China in precursor is however, able quarantine that Menendez ground subject here times restrictions. is the through President these goes of to the has
Liang to there, finalization our XXX May have is XXX The and XXX controls similar certification President We plan that the that horsepower our situation equipment, partner for our to did as the of of not optimization our for to announced manufacturer a China of repeat Boiler Jiangsu in our Company our product Following and a year. schedule burner for gas logistics horsepower of regarding we of copy be burner. this with out China in firetube work completed finalized Shuang the burner. process boiler in fuel manufacture sale need this to We burner to formal this of ClearSign Asia Limited. is boiler date, we the certification
early at able least we property. maximize stages want we that high next first be as of can want also see in in the product this. customers. way in degree we our where we to credentials of our protection control areas have provide to about and both these verify have to before, can in with of But go we where the technology, service we third-party can installations mentioned a confidence who are we strategic Especially to access be contractors rollout adopter customers we or in to intellectual we Our China, steps find careful and Primarily, relationships these person. that
earlier. where for design boiler significant the firetube -- we a XX The sold to and boiler developments are product than a We like can have conducted same product anyone small the rate. single watertube that technology, objective repeated product following once with familiar To redesign end to engineer redesign can report. times which is of believe of as components every when burners. burner, bigger, our is not I significant horsepower burner boiler designed rather the quantities. in commercial we is have we our burner discussed developed would of to slated reproduce legacy be XXX boiler of we much custom the This is also that provide the these remove enable is for sold, firing burner This piece supplied as having range a is process and our will watertube to product the a
recognize Donald want the this, the a our While the for of new the great discussing watertube design product. to scaling I efforts development new of and CTO, and of the including up to Dr. burner Kendrick configuration
Tulsa this into watertube manufactured design boiler first of at a despite facility installation makes of been the of boiler has the again that the part in in test and new stages enabled project final is in up The to of momentum keep to COVID one has initial Zeeco. restrictions burner the us Tulsa, this activities China. Switching watertube
operating addition burner to note the including this Zeeco watertube provide to fabrication required, Shanghai. in completion, point that elements producing boiler us test involved we this a line. And operation Zeeco is pertinent to there. enable sequence product will if will burner design, generation of the and burner the at Upon the burner. operating It efficiently an In underway optimize fuel large twin are has also facility new this in circuits validate facility this first in for the time any various for a
installation for necessary burner with the in certifications. to and to China proceed that is plan of Our arrange the
before Menendez of this work that And before make timeline with meetings. in District activity still limitation, we progress the him and yet Group he can of in quarantine coordinate obtain complete Mr. to any be and and Beijing trouble ongoing COVID ahead this arriving happen to can volume schedule time with installation an considering some caution, agreement is Heating and I just scheduling to and and and is defined. work required an with However need China the in-person
here, received coverage not are sensor much our we has actively it While promoting technology.
unit the in external visitors Eye our ClearSign in extent is allowed person. meet demonstrates mobile are to use to clients Our the
Houston this burner ClearSign our sensor emphasizing presentation. coal installations our October, Research the as the our presenting performance as Committee in at technology American Flame recent well are Conference We of a in technology, second
a of on want moving Before to questions, recent horizon. I and review ending provide activities the to quick and events on
quarters supermajor We is in is burner are process our fourth year. expected process point flames, full installed changing it developed where our this the We throughput. I believe to addition burners, look game standard low of in first happy the technology Europe. emissions. cases tight heaters burner NOx increased functionality provides and quarter traditional are is size of the which in to forward to that by delivering constrained in the in burner And startup operating
to opportunity burner continues we pipeline being make forward process to and look future to evolve Our announcements. able
been Boiler look to and product California. our on quotation truly led in significant interest moving phase. This and customer commercial part. firetube to received Our forward the California collaboration has with in activity We partner our has demonstrated to well business this
in alliances able forward to design districts and replacing and burner one-piece confirming anticipate We lines, heating China. China watertube We opportunities advanced and our the burners anticipate redesigned boiler our return like channels. we and to with districts heating for operating have ClearSign which up the will new for protocol open product look product, sales and Core to developing been reengaging the
business We quality we than continue excess not personnel. asset-light I have means our also which do model, have stick to to quantity. we rather believe do
to Over the our it areas as few ClearSign have of in dedication, fully nimbleness demonstrated to employees bring past technology the pushing multiple been and market. months, have we
accelerated. technology we us put domestic to and access process restrictions our meet the have that burner full Boiler affecting was we this pace in processes boiler to a similar frame to in to COVID In in As firing parallel, design our program of to product us normal here. enabling the final high the Tulsa, with in experience And to watertube any conjunction push ability forward test getting boiler demand. in our scaling time China, developed California
a to engineering have been employees and I engineers, we our we ClearSign input, want of requiring design they have project to personal course, remarks the inquiries prepared of to and for a It address. acknowledge thank what especially myself, have thank them my of pleased the can it. done. progression managers. dedication which, on and please for That has to new Board past concludes at time. open taken done addition of Directors, and up what call this for of questions. this behalf have lot and they the Operator, to accountability do And quarter, you want for In above, designers the
