Clean Energy Technologies, Inc. Affiliate Secures Prime Project Site Through Agreement with Northeastern Vermont Development Association
2023年5月31日 - 10:00PM
Clean Energy Technologies, Inc. (Nasdaq CETY)
(“CETY” or the “Company”), a rising leader in clean energy
solutions, is pleased to announce a significant development in its
renewable energy sector. Vermont Renewable Gas, LLC, an affiliated
limited liability company of CETY, has entered into a Purchase and
Sale Agreement (P&S) with Northeastern Vermont Development
Association to purchase 8 acres in the Saint Johnsbury/Lyndon
Industrial Park. The property will serve as a site for VRG -
Lyndonville, a biomass renewable energy processing facility.
At the heart of this project is CETY’s
revolutionary high temperature ablative fast pyrolysis reactor
(HTAP Biomass Reactor). With an investment of $10 million, CETY
will orchestrate the design, construction, and operation of this
facility in Lyndonville, Vermont. This facility will convert
low-grade, woody fiber sourced from local working lands into
renewable fuel gas and BioChar fertilizer. The renewable fuel gas
generated will subsequently be converted into renewable electricity
and heat. Anticipated to be fully commissioned within a 12-month
timeframe, the plant is expected to yield over 14,600 MWh of
renewable electricity and 1,500 tons of BioChar annually. With the
P&S now in effect, immediate focus will be directed towards
site permitting and final engineering.
CETY’s concentration on HTAP applications for
various waste types, including industrial and municipal solid
waste, landfill waste, agriculture waste, and forestry waste,
reflects the growing trend of incentivizing clean energy
investments in commercial and industrial sectors, as well as the
escalating interest in clean energy solutions within
municipalities. Furthermore, this project stands to benefit from
the recently enacted Inflation Reduction Act passed in August of
2022.
In conjunction with CETY’s existing portfolio of
technologies and solutions, these projects will advance the
company’s mission to offer a more vertically integrated and
scalable platform for clean energy solutions across multiple
industries in most key markets globally. Moreover, CETY’s existing
Organic Rankine Cycle (ORC) business will also capitalize on each
Biomass project, offering Heat Recovery Solutions that increase
value by 15%. This synergy between projects not only enhances the
profitability of the biomass sector but also drives top-line and
bottom-line growth throughout the company, generating long-term
predictable income streams with high IRR cash flows.
Significantly, this development establishes a
solid foundation for future projects utilizing HTAP Biomass Reactor
technology in the rapidly expanding biomass renewable energy
sector. The HTAP Biomass Reactor presents a innovative and
proprietary process that harnesses ultra-high temperatures to
transform organic waste, yielding renewable electrical power,
BioChar fertilizer, high heating value fuel gas, and other
commercially valuable chemicals.
Commenting on this momentous occasion, Kam
Mahdi, CEO of CETY, stated “This project serves as a blueprint for
numerous forthcoming renewable biomass projects, and is expected to
spearhead our entry into this immensely profitable and growing
industry. By vertically integrating the biomass projects into our
business, we are also able to grow our heat recovery business
horizontally. We anticipate that our future projects will be large
by orders of magnitude and have a profound impact on the
environment while bringing us new sources of revenue. The expansion
of our renewable energy biomass projects will further solidify our
ambition to become a comprehensive solution provider for industrial
and municipal-scale projects in our strategic target markets."
About Clean Energy Technologies
Headquartered in Costa Mesa, California,
Clean Energy Technologies (CETY) is a rising leader in the
zero-emission revolution by offering eco-friendly green 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 Cycle TM 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. Clean Energy Technologies (H.K.) Limited (CETY
HK), our wholly owned subsidiary manages our NG trading operations
in China to source and supply Natural Gas to industries and
municipalities located in China.
For information on CETY’s corporate structure
refer to the Company’s 10K for the fiscal year ended December 31,
2022 located on the website of the Securities and Exchange
Commission at www.sec.gov.
CETY's common stock is currently traded on the
Nasdaq Capital Market under the symbol CETY. For more information,
visit www.cetyinc.com.
DISCLAIMER
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:ir@cetyinc.com
Contact:
Clean Energy Technologies, Inc.
2990 Redhill Avenue
Costa Mesa, CA 92626
949.273.4990 main
949.273.4990 fax
www.cetyinc.com
Clean Energy Technologies (NASDAQ:CETY)
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Clean Energy Technologies (NASDAQ:CETY)
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