COSTA MESA, Calif., Jan. 24, 2022 (GLOBE NEWSWIRE) -- 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 received subscriptions under its offering under Regulation A+ in the amount of $786,000 at a price of $.08 per share. The capital will be used for a minority investment in a natural gas pipeline project that is estimated to supply up to 50 million cubic meters per year to a region with a population of approximately 130k people, and a focus on industrial use.
The management of CETY believes that this investment will better position the company to execute its strategic plan and business growth it has planned in China for 2022, including executing projects, increasing sales efforts, and propelling its efforts through strategic partnerships in the $120+ Billion Chinese Natural Gas market.
As announced on 11/29/21, CETY has established a joint venture with Shenzhen Gas, a major Chinese Natural Gas A-Share company valued at an estimated $3B. The joint venture is expected to contribute approximately USD 12 million in net income annually to CETY by 2024, with the Company owning a 49% stake in the joint venture. The joint venture is already evaluating and in the due diligence phase with multiple acquisitions.
Kam Mahdi, Chief Executive Officer said “We are grateful for the strong support from our institutional investors that believe in our ability to execute. The new capital infusion is important in giving us the ability in converting the opportunities we have in front of us in China natural gas industry and we expect that the returns will contribute to our efforts to develop our biomass and heat recovery solution markets in North America.
These investments are critical aspects of our clean energy growth strategy to bring additional revenue to the company and expand in multiple verticals. We also expect the additional capital to fuel our projected rapid growth in key clean energy markets in China and continue to develop new revenue channels for the company.”
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.
For more information, visit www.cetyinc.com or www.heatrecoverysolutions.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.
Contacts
Investors:
ir@cetyinc.com
Contact:
Clean Energy Technologies, Inc.
Kam Mahdi, CEO
949-273-4990 x814
Clean Energy Technologies, Inc.
2990 Redhill Avenue
Costa Mesa, CA 92626
949.273.4990 main
949.273.4990 fax
www.cetyinc.com
SOURCE Clean Energy Technologies, Inc.
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