Good afternoon, everyone. Our next presenter today is Jim Deller with ClearSign Technologies. Take it away, Jim.
Thank you very much. Good afternoon, everyone. I am Jim Deller, the Chief Executive Officer of ClearSign Technologies. For those of you that don't know us, we are an industrial technology company. We sell low-emissions equipment to large global companies with technology that will margins. We do have significant projects up and in operation. We have more on the way. We are making revenues, and the revenues are steadily growing. Before I start, I'm sure you've seen many of these. It is important. I'm not going to dwell on it. I will be making more of these statements in this presentation. How do we look at ClearSign? We have a very low-emissions technology that controls maximum emissions down to almost zero level. We are asset-light.
We sell this technology to global oil and firewoods, petrochemical companies, industrial gas companies, and users of commercial and industrial oils, at technology-level margins. How do we compute that? Asset-light, we are highly scalable. We are making sales, and we are making revenue. We sell our products through collaborative agreements with major companies in the industry and a network of original equipment manufacturers that include our technology as part of their offering. My background: I joined ClearSign in 2019. My background: I have a doctorate in flame structure, flame chemistry, and rock formation. Prior to joining ClearSign, I worked for one of the big three companies in the industry called Callidus that are now part of Honeywell. I worked for three Callidus around the business. I'm now to Honeywell Port, and I ran the entire Callidus business for Honeywell. In 2019, I left to join ClearSign.
The reason was I've worked in this industry all my life. With the ClearSign technology, this was the first time that I've seen a radically different flame technology that was different from all the other technology and the increase of other technology in the industry. I believe that had a huge potential to deliver value to the customers and a great opportunity to build a profitable company. Without going into the weeds, the NOx forms in flames through two chemical pathways. Some firms in the industry address just one of those pathways. The unique thing with the ClearSign technology and our ideas based on is that we structure flames so we can address both of those paths for controlling NOx and we can get those maximums down to almost zero emissions. Since 2019, we've focused on developing this technology.
We've not only taken that technology, turned it into a commercialized product. To really grow this business, we had to make the technology easy to install. You can take out the old equipment, replace the old burners, plug right back up into the same ports. It has to be easy to operate. The ClearSign burners run the same way as the incumbent technology, so it's easy for the operators to use. The control system that we have for ClearSign burners is the same as existing burners, so the projects are easy to implement. Very importantly, most importantly, is you have to deliver the equipment in a way that the customers are used to. The customers are the likes of the global oil refineries and petrochemical companies. That is often a barrier to entry. For example, they require a full cell combustion demonstration as part of their projects.
You have to have the equipment to do that. They require the materials to be traced back to their source. They require the equipment to be manufactured in a shop they certify. We were able to do that by forming a collaborative partnership with one of the two leading companies in the industry. That has allowed us to keep our business asset-light. It has allowed us to maintain our technology-level margins and has allowed us to operate the business world highly scalable. Having a collaborative partner like Zeeco with their very vast sales team, in addition to growing our network of original equipment manufacturers as customers, also provides great lean rich growth. Just a quick look at what's in there for our customers. This is a very small oil refinery process heater. The reason we picked this one is we have actual data.
We approached this engineering company after they had sold a project with the competitive technology. To pick back up, our competition in this market is what's called a selective catalytic reduction unit. This is a very complex system that involves catalysts. It gets built into the back end of the customer's heaters. It's extremely expensive, very costly to operate. That's normal for our customers. That's what they used to buy in. This project happened sold with that equipment. We explained what ClearSign could do. The client understood it. They took it to their customer. Their customer agreed that that was the best option for them, and they agreed to change that project after they initially started with the SCR technology. We have actual data for both the incumbent SCR equipment and the ClearSign solution for this very small process team.
Before I get into this data, there is an emissions threshold designation amongst the California air regulators, best available control technology. It's basically a measure of the emissions control that is achievable with the best available technology. They set that level by monitoring all of the technology installed. It's got to be run for at least nine months. It goes through a year-long review process to ascertain what they determine is the best available control technology. It's used to set permits, and it's taken into consideration when they're setting air regulations. This is a very formal number. This heater resets the bar for multiple burner process heaters. Another heater with ClearSign technology has reset the number for single burner process heaters. This unit has been in operation since 2020. Back to the numbers. Very quickly, the SCR's the incumbent technology on the right.
This is a very small heater. That project was sold for $2.2 million. The ClearSign solution was $450,000. The SCR technology requires the catalyst to be replaced on a frequent basis and the constant supply of ammonia to be injected upstream of that catalyst. For this very small heater, we estimate that to be about $100,000 per year. The ClearSign burners probably require some basic maintenance. So the cost of ownership over a five-year period of ClearSign technology is about one-sixth of the cost of the incumbent SCR equipment. The switching front lines are looking at a different attribute: oil and other products. The California Gas Utilities fund a collaborative body called the GET program. The GET program sponsored a review of ClearSign technology compared to the best alternate NOx burner in the market before ClearSign. There was a third-party test run validated by third-party engineering.
They basically took the alternate burner and the ClearSign burner and ran them back to back in the same order. They took lots of data. They've got a published report. The basic summary is that the ClearSign burner not only ran at much lower NOx emissions, it saved about 4% fuel efficiency. For a mid-sized boiler in California, that equates to about $80,000 fuel savings per year, in addition to saving about 500 tons per year of CO2. We've recently launched another burner in this unit that will be a new burner into the midstream gas business. If that performance translates into boilers, the efficiency savings of that burner will double the efficiency savings of that boiler burner, giving a fuel savings equivalent to somewhere in the region of $160,000 a year.
At that rate, the cost of the entire installation of that particular project will get paid back to about one year's worth of fuel gas savings. As I mentioned, we do have projects installed. We've got many more on their way. As you would expect, the bulk of our installations and experience is in California. That's where the NOx regulations are the tightest. That's the region that this new wave of NOx regulations will roll out first. What's really exciting for us is that the new regulations are now starting to push now in Texas. Texas is the single biggest market for ClearSign technology. That's where all the petrochemical and oil hub is. That's a very significant development for us. The new midstream burner I mentioned, that burner, that first installation is now on the Texas Gulf Coast.
The biggest order we've sold to date of 26 burners is going to a petrochemical company down on the Texas Gulf Coast. We are getting significant traction now down in the Texas Gulf Coast industry. You can see we also have installations over in Missouri. Those are actually going into power generation facilities. We're starting to spread across the country and outside of those two hubs. The growth in Texas is a huge driver for ClearSign. There's a lot on this slide. The takeaway is our revenues are growing, our sales are growing, and our catch rate break-even number, we need to run rate at about 160 burners per year against ClearSign's catch rate break-even. On the east end of the 26 burner one I mentioned, that's $100,000 a burner. With a bit of engineering, that's over $3 million going down to Texas.
We have 20 burners on the ground. We're installing into a refinery in Los Angeles. You'll see boilers of that size getting to 160 burners per year is not a great deal, given the rate that our business is growing as we get these installations in the market and the industry starts to accept the ClearSign technology. A quick look at the market. This is not the picture of the entire market. I'm trying to give you tools to understand the market and what we're looking at. One of our dominant burners is oil refineries. The top one is to try and estimate what the number of burners are stored in oil refineries throughout the world. The top one is California and Texas. Those are the markets that are addressable right now. We completed a technology validation study with ExxonMobil.
As part of that study, they gave us data that in their assessment, 15% of their burners were good applications for ClearSign technology. We can use that data. You can look at that number. The question is, why is the technology of the value that provides compared to the alternative SCR in the industry? We are making sales now. Are very careful. They do look to see other people using the technology before they'll put that in a critical piece of the burn infrastructure. As for things like that, the BACT designation and the oil refineries, the hidden installation, we thought they are growing. We've got some major projects ready to install. The 20 burners waiting to be installed in the Atlantic refinery is going to be a big significant project.
That 26 burners going down to the U.S. Gulf Coast is going to be a very significant project into a global company. It is taking time for our clients to have to get comfortable with the technology, not with installations we're getting and not from the government. There are regions. They have a NOx trading program where a refinery that needs to meet their requirements, they buy credits from somebody else. There are programs in different regions that allow them to trade NOx credits that way. Have you considered the shipping industry? Is it too much mercury in the ocean? The question was, have we considered the shipping industry? That is maybe in the future. Maybe in the future, yes, possibly. We're looking broadly. We're looking overseas for the growth.
We continue to develop technologies and to not only pursue the lowest NOx technologies, but we believe we have better burners. We're looking for opportunities where we can provide a better burner for a mid-range NOx opportunity, which is a much bigger sector of the market. As we look to expand our business, we're expanding in multiple dimensions. One is into a slightly detuned burner where the price might be less as long as we can make a margin based on the required. I do have a question about your cost. I see that you have a significant spending on modern SG&A. Can you tell why is that? Building general and administration. I can give you a general answer. I'm not going to explain it. I can't get into the details. We do have R&D functions rolled into SG&A.
Without seeing the numbers specifically, it's very hard to answer. I don't want to get into giving a misleading answer. As for cost generally, how you classify cost when you boil the revenue, if we do not have any income from operations, we're running at about $1.5 million a quarter in costs. However you classify that can move from one area to another. Obviously, I'm not going to look into specific details. I don't want to fail there and not be looking at your requirements. Okay. I appreciate your time and your attention. Thank you very much.