EU Environmental Regulation Creates a New Sale and Opportunities for US Based Clean Energy Technologies, Inc.
COSTA MESA, Calif., May 26, 2021 /PRNewswire/ — Clean Energy Technologies, Inc. (OTCQB: CETY), announced today that it has secured a new Clean Cycle ORC Waste Heat Generator order as a result of an environmentally friendly European directive aimed to foster development of new renewable energy projects. An EU based wood processing company will use CETY’s Clean Cycle as a small electrical generation plant using waste heat to produce electricity for its own use and to sell to local businesses.
The three-year-old directive incentivizes local European business to re-capture waste, generate electricity and resell it to local business and residences creating a new income stream for businesses while benefiting the environment. American renewable energy manufacturer Clean Energy Technologies currently offers a suite of clean energy solutions geared perfectly for these opportunities, with a growing hold on European market share. CETY secured a new sale for its ORC Clean Cycle generator from a wood panel manufacturer that creates huge mounds of waste wood as by product of its production process. The wood is burned in a Biomass boiler to produce superheated water for heat and hot water. With the addition of CETY’s Clean Cycle generator, it will also create approximately 800MWh/year of electricity which will be used to create electricity for the facility and sold to the neighbouring business on the power grid. Now the recycled material is helping the manufacturer reduce electrical costs and creating a new revenue stream.
Kam Mahdi, Chief Executive Officer of Clean Energy Technologies said, “It took a few years for the EU and CETY to see the benefits of the EU’s Renewable Energy directive which was renewed and improved in 2018. It is another clear example that renewable energy legislation is beneficial to business and to the environment. The directive offers businesses incentives to implement waste heat generators and other forms of energy recovery solutions, and CETY has a turnkey solution. Its ORC Clean Cycle generator provides businesses with energy savings and new revenues. The price and quality of our ORC Clean Cycle II generator makes sense to our customers because the cost savings and revenues far outweigh the investment in our renewable energy electrical generators. We expect more businesses in the EU to take advantage of the Renewable Energy Directive and we plan to further capitalize on these new opportunities. We are excited for the future as we push forward and build more market share in Europe.”
About Clean Energy Technologies, Inc. (CETY)
Headquartered in Costa Mesa, California, Clean Energy Technologies (CETY) a low carbon energy company 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.