Clean Energy Technologies (CETY) Announces 2021 Year-End Financial Results

COSTA MESA, Calif., April 18, 2022 (GLOBE NEWSWIRE) — Clean Energy Technologies (OTCQB: CETY), (“CETY” or the “Company”), a clean energy company offering products and solutions in the renewable and energy efficiency markets announces 2021 Year-End financial results and operational highlights.

Who We Are

We develop renewable energy products and solutions and establish partnerships in renewable energy that make environmental and economic sense. Our mission is to be a segment leader in the Zero Emission Revolution by offering recyclable energy solutions, clean energy fuels and alternative electric power for small and mid-sized projects in North America, Europe, and Asia. We target sustainable energy solutions that are profitable for us, profitable for our customers and represent the future of global energy production.

Major Development in Financials and Expansion of Business

Financial and corporate highlights for the year ended December 31, 2021 and subsequently include the following:

  • Ended the year with a net profit of of $278,429 in 2021 compared to a net loss of $3,435,764 in 2020.
  • In 2021, we raised approximately $4.78 million in Regulation A equity offering. Subsequently, we raised an additional $1.2 million in 2022 through the same offering at $0.08.
  • Created a new business unit – Waste to Energy Solutions. We convert waste products created in manufacturing, agriculture, wastewater treatment plants and other industries to electricity, renewable natural gas (“RNG”), hydrogen and BioChar which are sold or used by our customers.
  • Created a new business unit – Engineering, Consulting and Project Management Solutions. We bring a wealth of experience in developing clean energy projects for municipal and industrial customers and Engineering, Procurement and Construction (EPC) companies so they can identify, design and incorporate clean energy solutions in their projects.
  • Finalized agreement on $15M renewable energy processing facility to convert 10,000 tons per year of clean woody feedstock into an estimated 20,000 MWh electricity/year. In addition, the facility will produce 1,400 metric tons of BioChar and 26,000 MMBTU of heat per year. In addition, working on follow up projects in Massachusetts and California.
  • Secured $1.5M of sales order for the installation of Clean Cycle Waste Heat Generators in the US and Europe and built a strong pipeline of opportunities for the Clean Cycle unit as a result of the recently introduced incentives both at the federal and state levels for heat to power generation.
  • Acquisition of Leading Wave Limited (LWL), a liquified natural gas (LNG) trading company in China.
  • Obtained a 15% equity stake in Heze Hongyuan Natural Gas (HHNG), a local pipeline operator in the Shandong Province.
  • CETY Hong Kong established a frame work agreement for a future joint venture with the overseas investment arm of a large gas enterprise in China called Shenzhen Gas (Hong Kong) International Co. Ltd. (“Shenzhen Gas”). The joint venture plans to acquire municipal natural gas operators in China with funds provided by Shenzhen Gas.
  • Improved our balance sheet and capital position to permit CETY to retain more resources and invest in more products and projects.

Kam Mahdi, CEO of Clean Energy Technologies stated, “Our revenue from waste heat recovcery solutions in 2021 was $1,014,707 compared to $930,882 in 2020 as we have been diminishing the legacy manufacturing business and shifting 100% of our focus to the clean energy technologies and solutions. Gross profit margin was decreased to $610,407 from $751,068 in 2020 due to an increase in material costs and logistics as a result of the pandemic and increase in the cost of our engineering consultants. For the year ended December 31, 2021, we had a net profit of $278,429 compared to a net loss of $3,435,764 for the same period in 2020. The increase in the net profit in 2021 was mainly due to the change in derivative liability associated with the payoff of convertible debt and lower interest expense from 2021 to 2020.

2021 was an eventful year for the company, We have made significant progress in improving our balance sheet and capital position to permit us to invest in more products and projects. In 2021, we raised approximately $4.78 million in a Regulation A equity offering.

We continue to take advantage of federal investment tax credits and state incentives that now include waste heat recovery as a recognized clean energy source making our Clean Cycle Generator and ORC systems more profitable to install. The acquisition of the LNG trading company and future acquisitions of municipal natural gas operators is going to create opportunities for us to sell our Waste Heat Recovery and Waste to Energy products in China and to provide engineering, consulting and project management services.

We also established new partnership to support selling more equipment and leveraging our existing marketing channels to sell our HTAP Waste to Energy products and solutions to industrial clients and government agencies”.

About Clean Energy Technologies

Headquartered in Costa Mesa, California, Clean Energy Technologies (CETY) is a leader in the zero emission revolution by offering recyclable energy solutions, clean energy fuels and alternative electric power for small and mid-sized projects in North America, Europe, and Asia. We deliver power from heat and biomass with zero emission and low cost. The Company’s principal products are Waste Heat Recovery Solutions using our patented Clean CycleTM generator to create electricity. Waste to Energy Solutions converting waste products created in manufacturing, agriculture, wastewater treatment plants and other industries to electricity and BioChar. Engineering, Consulting and Project Management Solutions providing expertise and experience in developing clean energy projects for municipal and industrial customers and Engineering, Procurement and Construction (EPC) companies.

CETY’s common stock is currently traded on the OTC Market under the symbol CETY. For more information, visit or



 Clean Energy Technologies, Inc.
Consolidated Balance Sheet

  December 31, 2021  December 31, 2020 
Current Assets:        
Cash $1,192,316  $414,885 
Accounts receivable – net  693,032   265,738 
Lease receivable asset  217,584   217,584 
Prepaid  40,380     
Inventory  462,192   557,820 
Total Current Assets  2,605,504   1,456,027 
Property and Equipment – Net  33,016   53,432 
Goodwill  747,976   747,976 
LWL Intangibles  1,468,709    
Long-term financing receivables – net  684,770   752,500 
License  354,322   354,322 
Patents  115,569   127,445 
Right of use asset – long term  395,607   606,569 
Other Assets  26,801   25,400 
Total Non Current assets  3,793,754   2,667,644 
Total Assets $6,432,274  $4,123,671 
Liabilities and Stockholders’ (Deficit)        
Current Liabilities:        
Accounts payable $606,814  $1,544,544 
Accrued Expenses  143,847   503,595 
Customer Deposits  24,040   82,730 
Warranty Liability  100,000   100,000 
Deferred Revenue  33,000   33,000 
Derivative Liability  256,683   2,008,802 
Facility Lease Liability – current  213,474   249,132 
Line of Credit  1,169,638   1,680,350 
Notes payable – GE  2,498,076   2,442,154 
Convertible Notes Payable (net of discount of $26,919 and $170,438 respectively)  1,193,341   541,426 
Related Party Notes Payable  626,210   600,075 
Total Current Liabilities  6,865,123   9,785,809 
Long-Term Debt:        
Related Party Notes Payable (net of discount of $0 and $0 Respectively  1,081,085   1,092,622 
Notes payable – PPL     110,700 
Facility Lease Liability – long term  207,778   373,112 
Net Long-Term Debt  1,288,863   1,576,434 
Total Liabilities  8,153,986   11,362,243 
Commitments and contingencies $  $ 
Stockholders’ (Deficit)        
Preferred D stock, stated value $100 per share; 20,000 shares authorized; 7,500 shares and 7,500 shares issued and 0 and 4,500 outstanding as of December 31, 2020 and December 31, 2021, respectively     450,000 
Common stock, $.001 par value; 2,000,000,000 shares authorized; 821,169,656 and 943,569,148 shares issued and outstanding as of December 31, 2021 and December 31, 2020, respectively  943,569   821,171 
Shares to be issued     61,179 
Additional paid-in capital  14,777,708   9,080,560 
Accumulated deficit  (17,423,930)  (17,651,482)
   (1,702,653)  (7,238,572)
Non-controlling interest  (19,059)   
Total Stockholders’ (Deficit)  (1,721,712)  (7,238,572)
Total Liabilities and Stockholders’ Deficit $6,432,274  $4,123,671 

The accompanying footnotes are an integral part of these consolidated financial statements

Clean Energy Technologies, Inc.
Consolidated Statement of Operations
December 31,

  2021  2020 
Sales $1,300,439  $1,406,005 
Cost of Goods Sold  690,032   654,937 
Gross Profit  610,407   751,068 
General and Administrative        
General and Administrative expense  488,177   480,812 
Salaries  772,463   495,269 
Travel  145,170   86,292 
Professional Fees  155,241   111,318 
Facility lease and Maintenance  346,454   363,643 
Consulting  243,371   157,149 
Bad Debt Expense     259,289 
Depreciation and Amortization  32,292   32,912 
Total Expenses  2,183,167   1,986,684 
Net Profit / (Loss) From Operations  (1,572,760)  (1,235,616)
Change in derivative liability  1,752,119   (1,270,099)
Gain / (Loss) on debt settlement and write down  868,502   399,181 
Interest and Financing fees  (769,369)  (1,329,230)
Net Profit / (Loss) Before Income Taxes  278,492   (3,435,764)
Income Tax Expense      
Net Profit / (Loss)  278,492   (3,435,764)
Non-controlling interest  (19,059)   
Net Profit / (Loss) attributable to Clean Energy Technologies, Inc.  297,551   (3,435,764)
Per Share Information:        
Basic weighted average number of common shares outstanding and dilluted  900,774,064   767,861,170 
Net Profit / (Loss) per common share basic and dilluted $0.00  $(0.00)


Clean Energy Technologies, Inc.
Consolidated Statements of Cash Flows
for the years ended December 31,

  2021  2020 
Cash Flows from Operating Activities:        
Net Income / ( Loss ) $278,492  $(3,435,764)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation and amortization  32,292   32,912 
Bad debt expense     259,289 
Gain on debt settlement  (868,502)  (399,181)
Shares issued for commitment fee  54,266   73,421 
Change in debt discount and Financing fees  321,517   516,710 
Change in derivative liability  (1,752,119)  1,270,099 
Changes in assets and liabilities:        
(Increase) decrease in right of use asset  210,962   215,715 
(Increase) decrease in lease liability  (200,993)  (209,613)
(Increase) decrease in accounts receivable  (359,593)  10,731 
(Increase) decrease in inventory $95,629   72,384 
(Decrease) increase in accounts payable  (44,855)  230,200 
Other (Decrease) increase in accrued expenses  (379,239)  55,666 
Other (Decrease) increase in accrued expenses related party  118,286   118,286 
Other (Decrease) increase in deferred revenue     (14,750)
Other (Decrease) increase in customer deposits  (58,690)  (226,500)
Net Cash Provided by (Used In) Operating Activities  (2,552,547)  (1,430,395)
Cash Flows from Investing Activities        
Investment in CETY HK  (1,500,000)    
Purchase property plant and equipment      
Cash Flows Used In Investing Activities  (1,500,000)   
Cash Flows from Financing Activities        
Bank Overdraft / (Repayment)     (1,480)
Payment on notes payable and lines of credit  (906,112)  (507,168)
Payment on notes payable related party  0   (35,000)
Proceeds from notes payable and lines of credit  975,000   1,150,502 
Proceeds from notes payable related party     60,000 
Stock issued for cash  4,761,090   1,171,020 
Cash Flows Provided By Financing Activities  4,829,978   1,837,874 
Net (Decrease) Increase in Cash and Cash Equivalents  777,431   407,479 
Cash and Cash Equivalents at Beginning of Period  414,885   7,406 
Cash and Cash Equivalents at End of Period $1,192,316  $414,885 
Supplemental Cashflow Information:        
Interest Paid $187,207  $200,671 
Taxes Paid $  $ 
Supplemental Non-Cash Disclosure        
Discount on derivatives $  $413,113 
Shares issued for preferred conversions $450,000  $200,000 
Shares issued for debt conversion conversions $423,011  $198,800 

The accompanying footnotes are an integral part of these consolidated financial statements

This summary should be read in conjunction with the Company’s 10-K for the fiscal year ended December 31, 2021 which contains, among other matters, risk factors and finaical footnotes as well as a discussions of our business, operations and financial matters located on the website of the Securities and Exchange Commission at


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.

Investor Relations Contact:


Clean Energy Technologies, Inc.

2990 Redhill Avenue

Costa Mesa, CA 92626

949.273.4990 main

949.273.4990 fax