- Clean Energy Technologies (OTCPK:CETY) purchased General Electric Heat Recovery Systems, “HRS” valued at over $85 million with over 100 Heat Recovery Systems in operation globally and entered into 2 major partnerships to launch sales.
- CETY closes second $2 million funding round to restructure debt and for growth capital.
- CETY HRS ORC Generators produce clean electric energy from wasted or lost heat with ZERO emissions and ZERO fuel cost and generate positive cash flow to user. DOE estimatesthat between 20 to 50% of industrial energy input is lost as waste heat in the form of hot exhaust gases, cooling water, and heat lost from hot equipment surfaces and heated products.
- CETY recently installed first HRS system in NY high rise demonstrating working model to create very large sales to market of tens of thousands of high rises globally.
- Just commissioned $2.3 million lease for Marshall Islands installation. Users are broad spectrum of BioMass operations, high rise buildings, factories losing waste heat, reciprocating engines, and more
- CETY systems can sell for several million dollars and each individual CETY Heat Recovery ORC Generator sells for over $300,000.
CETY Acquisition from General Electric
October 19, 2015, before Probe Manufacturing, Inc.,changed its name to Clean Energy Technologies, Inc. (OTC: CETY) Probe announced it completed the purchase of the assets of GE’s Heat Recovery Solutions business from General Electric International, Inc. and substantially all of the assets relating to GE’s Heat Recovery Solutions business, which were located at GE’s facility in Costa Mesa, California. The GE’s Heat Recovery Solutions system captures waste heat from a variety of sources and turns it into electricity that users can use or sell back to the grid. GE paid $55 million to Calnetix for the acquisition and also invested an additional $30 million to improve the technology to create the new Clean Cycle II ORC Generator. Concurrent with this announcement, the Company announced that it was changing its name to “Clean Energy Technologies, Inc.” that better reflects the Company’s new generation of energy efficient technologies. Now CETY owns this $85 million General Electric Heat Recovery technology that serves an industry forecast to be over $65 billionby 2021. The company’s vision is to become a leader in efficient power generation and renewable energy.
- Restructured Board of Directors.
- Retired toxic debt that removed shares overhanging the market.
- Sold and delivered 9 Heat Recovery Systems at an average price of $300,000 each to 3 different markets; Completing 2 systems to the Marshall Islands Utility Company. Large electric power producing diesel generators to the Marshall Islands, the large BioMass Industry, high rise building in NY with potential to lead to thousands of sales expected when property management companies learn about the opportunity to slash electric power costs.
- New cross sales agreement finalized in 2018 with BPL, a waste to energy systems provider with potential for large number of unit sales.
- New cross sales agreement with Corycos finalized in 2018 with potential for large number of unit sales.
- Substantial inventory of parts on hand from GE acquisition.
- Opened Italy office in October 2018.
- Over 100 units in operation with over 1,000,000 fleet operating hours.
- All SEC filings up to date.
- Recent infusion of second round of $2 million cash.
CETY’s system is designed specifically for the biggest markets which are small-scale power generation at factories, biomass operations, large reciprocating engines, and even hundreds of thousands of large residential buildings that give off unused and lost heat. It can also be used to make electricity from landfills that capture and burn biogas or at a concentrating solar power plant. To turn heat into electricity, CETY uses an Organic Rankine Cycle where heat and pressure turn a working fluid, which is a refrigerant, into a vapor. That vapor expands to turn a turbine, which drives a generator to make electricity. The vapor is cooled, turned back into a liquid, and circulated in pipes through the system again.
The company says that improvements in the basic cycle allow it to turn heat as low as 250 degrees Fahrenheit into 100 kilowatts of electricity which can be used on site or fed into the grid. One important thing that separates CETY from the pack is that their ORC Generators use an oil free, frictionless magnetic levitation for the turbine as opposed to bearing load designs that require substantially more maintenance and are not nearly as efficient.
June 11, 2018 CETY announced it entered into an agreement to cross promote its products with Biomass Power Limited, BPL, a leading designer, builder and operator of Biomass waste to energy power stations. The agreement calls for BPL and Clean Energy Technologies to refer customers and promote and solicit orders for their products. BPL has incorporated CETY's Clean Cycle II™ Organic Rankine Cycle ORC heat recovery generator into its waste to energy power plants.
CETY's management estimates that between one to four Clean Cycle II™ ORC heat recovery generators will be used in each family of BPL-TEC Stepped Grate Gasification plants built by BPL, which delivers gross power outputs ranging from 140 – 560 kWe. The Clean Cycle II™ ORC heat recovery generator will be used to create electricity from hot water that has been produced by thermally processing (via advanced gasification) non-recyclable "end of waste" organics (biomass) and plastic's.
Kam Mahdi, Chief Executive Officer of CETY said, "We look forward to working with BPL to cross promote our products. We are honored that BPL, a globally-recognized and market-leader in the design of gasification-based waste to energy power stations, has decided to integrate our Clean Cycle II™ ORC heat recovery generators into its solutions. Through our partnership with BPL, CETY will provide a low maintenance, highly efficient ORC system utilizing our patented magnetic turbine generator that is easy to deploy and simple to maintain. We believe that the association will be very beneficial for the long-term growth of our company."
Ben Talbott, CEO of Biomass Power Ltd, commented about the new relationship, "Having seen the market for environmentally friendly small scalable waste from energy solutions grow exponentially, BPL is pleased to work with Clean Energy Technologies and integrate their product line into our Stepped Grate Gasification solution for waste to energy plants. We expect that our new relationship will enable us to better serve our clients' needs for electricity by efficiently producing medium temperature hot water from processing one of the worlds increasing problems, waste, as a clean fuel."
Clean Energy Technologies announced that it had entered into an agreement with Corycos Group, an international Solar, Oil and Gas Energy company headquartered in Turkey, to promote and sell its products in that country. The agreement calls for Corycos to implement a business development plan to market and solicit orders for CETY products. Corycos has included CETY's Clean Cycle II Organic Rankine Cycle ORC heat recovery generator in its product offerings to its clients in the Biogas industry as an important factor in improving efficiencies in new and existing facilities.
This three-year agreement may become exclusive and may be extended beyond the term based upon performance. This agreement and Corycos' impressive reputation support CETY's stated goals in both volume of sales and geographic expansion, as well as providing further evidence that this technology is an important element to improve the efficiencies of, and produce added revenue from, existing facilities that produce waste heat, which is common among Corycos clients. This agreement has already resulted in the first six-figure sale.
Kam Mahdi, Chief Executive Officer of CETY said, "The entire team at CETY is enthusiastic about this expansion, not only into a new territory such as Turkey, but also into the Biogas industry where we believe the synergies cannot be ignored. We know our counterparts at Corycos feel the same. Through this agreement with Corycos, CETY will provide a low maintenance, highly efficient ORC system utilizing our patented magnetic turbine generator that is easy to deploy and simple to maintain. We believe that this agreement will be very beneficial for the immediate, and long-term growth of our company."
Ahmet Yigit Kazanc and Hakan Dogan, Co-Founders of Corycos Group added: "Waste to Energy represents the future of human civilization. It is not just an advancement in energy technology, it is a change of mindset and the future way of doing business. Strict energy efficiency criteria and forward thinking, innovative and practical energy policies of the Republic of Turkey sets an example to rest of the world in terms of reducing GHG emissions and transforming heavy industry into state of the art modern, facilities. Currently, many landfill biogas-fueled power plants biomass-powered industrial facilities exist in the Republic of Turkey. As a nation bridging the East and the West, CETY's Turkish installations will serve as showcases to the rest of the world. Benefits of environmentally friendly small, scalable waste to energy solutions are undeniable and the exponential growth of that industry is impossible to ignore. Corycos is pleased to work with Clean Energy Technologies and introduce their product line into our extensive client base. CETY's technology is a perfect fit for our business and we are excited about where this agreement will lead."
The Biogas markets represent one of most sizable industries and gaining exposure to this industry is no small feat and could take CETY to an entirely new level. Global Market Insights reports the waste to energy market size was $20.86 Billion in 2015 of which thermal based waste to energy technology occupied a significant percentage of the market, which may surpass $29 billion by 2023.
Factoring in current structure and growth for the next 12 months alone, an unrealized market value of $.25 per share is justified. CETY has very effective CEO and very big growth potential in years to come as large users learn about the substantial savings and profits they can realize with CETY technology.
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.