COSTA MESA, Calif., Jan. 13, 2022 (GLOBE NEWSWIRE) — Clean Energy Technologies, Inc. (OTCQB: CETY), a carbon neutral focused energy company manufacturing products and solutions in the energy efficiency and environmental sustainability markets, announced today it has entered in to a $825,000.00 USD sales order for the installation of two Clean Cycle waste heat generator system located in Indianapolis. This project is being completed in collaboration with Greenverse Energy Group. Further discussions to finalize terms of the project are in progress, as the project can be scaled with additional generators, modified, or canceled if so required.
Greenverse Energy Group is taking advantage of the current available Investment Tax Credit (ITC) benefiting WHP (waste heat to power), showcasing the industry’s incentives and investments into clean energy solutions. This solution is just one way we can produce a solid return on investment for our clients while improving the environment, maintain good stewardship, and hedge future electrical cost increases. Current investment tax credits are making these systems extremely appealing for companies in the commercial and industrial sectors, and CETY is planning to increase production of this technology to meet demand.
“CETY’s ability to provide a suite of technology that can tailored to our customers’ needs allow the company to be positioned in many key commercial and industrial applications. This also allows CETY to capture the surge in interests and investments in clean energy solutions. Our solutions provide valuable resources, savings, and return on investment to our customers. The market is constantly growing, and we will be prepared to capture market share as it does.” Said Kam Mahdi CETY’s CEO.
CETY’s product line includes Heat Recovery, Waste Heat to Power, and other similar solutions, offering innovative solutions for commercial, manufacturing, and municipal facilities who benefit by achieving a very attractive ROI and reduction of the environmental carbon footprint. CETY also recently announced a capital injection to continue to expand its efforts in designing, building, and selling these solutions.
CETY has many projects scheduled for production in 2022, including the first of four anticipated renewable biomass projects in Ashfield Massachusetts. This $15,000,000 renewable energy processing facility which utilizes their revolutionary high temperature ablative fast pyrolysis reactor (HTAP Biomass Reactor). The Ashfield facility will convert approximately 10,000 tons per year of clean woody feedstock into an estimated 16,500 MWh electricity/year, 1,400 metric tons of biochar and 26,000 MM BTU of heat per year,
About Clean Energy Technologies, Inc. (CETY)
Headquartered in Costa Mesa, California, Clean Energy Technologies (CETY) delivers power from heat and biomass with zero emission and low cost. CETY designs, produces, and markets clean energy products & solutions focused on energy efficiency and renewable energy. The Company’s principal product is the Clean Cycle™ magnetic bearing heat recovery generator, offered by CETY’s subsidiary Clean Energy HRS, or Heat Recovery Solutions.
The Clean Cycle™ system captures waste heat from a variety of sources and turns it into electricity that can be used or sold back to the grid. CETY’s proven, reliable technology allows municipal, commercial, and industrial users with heat sources, such as from biomass, industrial processes, or energy production, to boost their overall energy efficiency with no additional fuel, no pollutants, and little ongoing maintenance. CETY’s common stock is currently traded on the OTC Market under the symbol CETY. For more information, visit www.cetyinc.com or www.heatrecoverysolutions.com.
About Greenverse Energy Group
Greenverse Energy Group is part of a family of companies dedicated to improving on-site facility energy efficiency, resiliency, and environmental stewardship. Greenverse is the first step in our total facility energy solution in finding ways to reduce facility energy usage by utilizing high-efficient equipment and controls. For more information, visit www.greenwave-holdings.com.
This news release may include forward-looking statements within the meaning of section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities and Exchange Act of 1934, as amended, with respect to achieving corporate objectives, developing additional project interests, the company’s analysis of opportunities in the acquisition and development of various project interests and certain other matters. These statements are made under the “Safe Harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein.
Clean Energy Technologies, Inc.
Kam Mahdi, CEO
Clean Energy Technologies, Inc.
2990 Redhill Avenue
Costa Mesa, CA 92626
SOURCE Clean Energy Technologies, Inc.