COSTA MESA, Calif., Feb. 16, 2022 (GLOBE NEWSWIRE) -- Clean Energy Technologies, Inc. (OTCQB: CETY), a clean energy company offering products and solutions in the energy efficiency and environmental sustainability market, announced today that it has formed a technology partnership with Enertime, a clean technology company focused on large scale ORC solutions above 1 MW of power generation. Enertime manufactures ORC modules to recover heat and generate electricity, high temperature large heat pumps and natural gas expanders.
ORCs replace steam with organic fluid allowing electricity to be generated from low-medium temperature heat sources dramatically reducing a power plant’s dependance on grid electricity. The organic fluid has a lower boiling point and is therefore able to use low temperature heat sources to produce electricity. We believe ORC systems are one of the most technically advanced and economically viable solutions available today, with higher performance and lower capital costs than alternative methods of energy saving products.
As energy demands have soared, companies are developing strategies to transform waste heat into energy as opposed to releasing this heat into the atmosphere. The waste heat recovery industry is predicted to exceed $114 billion by 2028 as rising energy usage and cost drive the market, according to a report by Market Research Future. This is especially important to industries with heavy energy utilization, where electricity costs can account for up to 70% of their operating costs annually.
Many companies are exploring utilizing systems such as CETY’s proprietary technology, the Clean Cycle generator, and Enertime’ s ORC systems for larger scale facilities. These solutions capture wasted heat produced by the facility and convert it into grid-ready electricity that can either be sold for a profit or offset electrical expenses of the facility.
The US Office of Energy and Renewable Energy has stated in a recent study that half of all industrial energy input is lost because of heat waste from exhaust gasses, cooling water and equipment surfaces. By capturing this energy and utilizing it to offset power costs, companies across the world could save billions of dollars a year and dramatically reduce their carbon footprint simultaneously.
Kam Mahdi, CETY’s CEO said “Technology partnerships are essential elements in the creation of a successful business and should allow us to obtain immediate access to markets, and operational scalability that would simply not be possible if we rely on internal organic growth. Our partnership with Enertime is expected to greatly improve our ability to address a larger market and allow us to continue to expand our share of the clean energy sector”.
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.
About Enertime SA (ALENE)
Headquartered in Courbevoie in the Great Paris Region in France, Enertime (ALENE) designs, develops, and implements thermodynamic machines and turbomachines for industrial energy efficiency and decentralized renewable energy production. Enertime supports its customers and industrial partners in the implementation of complex industrial solutions to produce CO2-free thermal or electrical energy.
Enertime's ORC machines convert heat into electricity, and its Heat Pumps produce high temperature heat with lower temperature heat and electricity. Its gas expansion turbines recover the lost energy in gas distribution networks to produce electricity and cooling. Enertime is listed on the Euronext Growth market. ISIN: FR0011915339 - Mnémo: ALENE.
For more information, visit www.cetyinc.com or www.heatrecoverysolutions.com and www.enertime.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.
Related Links
https://www.energy.gov/eere/amo/articles/waste-heat-recovery-resource-page
https://www.marketresearchfuture.com/reports/waste-heat-recovery-market-1355
