Costa Mesa, California, (October 1, 2020), Clean Energy Technologies, Inc. (OTCQB : CETY) a California-based leader and global innovator in clean energy generation and sustainability-focused technologies, announced today that it has signed a sales and manufacturing agreement with ENEX, a Clean Energy Company specializing in the design, build and operation of organic waste recovery systems based on proprietary technologies.
CETY will have the exclusive rights of the Biomass technology and product in the United States and Asia. In addition ENEX shall have exclusive rights to package and sell the CETY ORC system for any project developed in Russia, Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Turkmenistan, Ukraine, and Uzbekistan (the “CIS Countries”).
ENEX’s technology is based on organic waste treatment in the high temperature ablative pyrolysis reactor (ENEX HTAP) with the production of synthetic (renewable) natural gas to be used as fuel for onsite power generation or CNG application.
ENEX proprietary technology and expertise will support CETY in securing a long term and profitable recurring revenue.
CETY and ENEX will begin to set up a facility in Russia for CETY Clean Cycle magnetic bearing waste heat generators customized to customer’s applications and sites. ENEX shall begin marketing and sales activities to acquire prospective customers for CETY Clean Cycle waste heat generators and set up engineering and commissioning support of such customers in the Territory of Russia and CIP countries.
Additionally, CETY and ENEX’s team will cooperate to jointly design, develop and implement biomass recovery systems for forestry and agricultural wastes in California, United States. The BioMAT Tariff opportunity in California requires each of the big 3 utilities in California to purchase up to 250 Mw collectively of power at a starting price of $127.8 to $197 per MwH. The feed stock to the project must be agriculture waste, biosolids, green waste, forestry waste or biomass diverted from landfills. The program uses a standard long-term contract (Power Purchase Agreement) offered at contract prices. CETY will be targeting the agriculture waste and forestry waste with potential $84M contracts.
This news follows several other releases over the last month regarding the expansion of CETY’s global presence through strategic partnerships and joint ventures in key target markets, which supports scalability at lower costs and higher margins.
CETY’s expansion into the rapidly growing and expansive Chinese clean energy market, alongside a strong partner Khorgos Shuxin Co. Ltd (KS) was announced on September 16th, 2020. Under the terms of this agreement CETY will be the majority partner in the venture and will provide the JV the licenses and know-how to market its products and solutions in China. HS brings to the JV a large pipeline of sales opportunities as well as a team of local experts who can implement CETY’s products and solutions.
Additionally, CETY signed an agreement on September 22, 2020 to launch its Asia headquarters in Meishan California Smart City (MCSC). MCSC is a joint venture of Meishan California Smart Town Investment and Development Co., Ltd., and the international agricultural and real estate giant COFCO with total annual revenues of USD 31 billion.
The joint venture will promote sales and application of CETY’s products and solutions. COFCO embraces several sectors highly compatible with CETY products and technology, including its Clean Cycle II applications, which are also ideal for integration into the MCSC infrastructure.
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. We design, produce and market 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 Clean Energy HRS, or Heat Recovery Solutions, subsidiary, www.heatrecoverysolutions.com. 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.
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