CETY Completes Setup Of Wholly Owned Subsidiary In Hainan Island, China
COSTA MESA, Calif., Jan. 6, 2021 /PRNewswire/ — Clean Energy Technologies, Inc. (OTCQB: CETY), a clean energy company focusing on products and solutions in the energy efficiency and environmental sustainability market, announced today CETY has completed the establishment of its wholly owned subsidiary in Hainan Island, China, to take advantage of the tariff free trade zone, which sets the foundation of China Market expansion.
On June 1, 2020, the Chinese government released a master plan for polices to build Hainan Island, on China’s south coast, into a globally significant free-trade port by 2050. Policies will be rolled out to facilitate trade, liberalize investment, allow capital to flow freely cross-border, make transit more convenient for people, and ensure the secure flow of data. Improvements to the taxation and legal systems will be made to support the development of high-tech industries, tourism, and modern services.
HAINAN Clean Energy Technologies, Inc. is currently in discussions with Shenzhen Natural Gas to provide pilot project in a waste to power application for hospital organic waste. The wholly owned subsidiary is planned to be used as a special purpose vehicle to support CETY’s global clean energy projects including waste heat to power and waste to energy with energy services agreement to design, build, own and operate clean energy plants.
“China is the biggest market for Clean Energy, and we expect substantial growth from Asia pacific region due to high industrialization. With the establishment of our wholly owned subsidiary and the recent agreements with two major partners we feel optimistic about our expansion and scaling up the business in the region,” said Kam Mahdi, CEO of CETY.
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.
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.