ClearSign Inks Tesoro Emissions System Deal
ClearSign Combustion Corp, a small company whose technology helps refiners cut nitrogen oxide emissions, has signed a deal with Tesoro Corp to retrofit a Los Angeles refinery heater with a combustion control system.
The refinery, which supplies 50 percent of the jet fuel used by Los Angeles International Airport, is aiming to halve nitrogen oxide emissions by 2020, a goal set by the local air pollution control agency.
U.S. companies are spending more to reduce emissions as the Obama administration steps up efforts to curb pollution.
"If Tesoro is successful in this first phase of working with us, they would likely use our solution in all of their refineries throughout the United States," ClearSign Chief Executive Steve Pirnat told Reuters.
Tesoro also has refineries in North Dakota, Utah, Northern California, Alaska and Washington state.
ClearSign, which is developing technologies to improve the efficiency of boilers, furnaces, turbines and other combustion systems, competes with Honeywell International Inc's Callidus Technologies and John Zink Co LLC, a unit of Koch Industries Inc.
The company, which went public in May 2012, was valued at little over $45 million as of Thursday's close. ClearSign's stock, which closed at $3.44 on Thursday, has lost more than half its value this year.
Reporting by Swetha Gopinath
