COSTA MESA, Calif., Nov. 5, 2019 /PRNewswire/ -- Clean Energy Technologies, Inc. (CETY), a clean energy company focusing on products in the energy efficiency and environmental sustainability markets, announced today that it finalized a $1.1 million landfill heat recovery order scheduled to be delivered in the fourth quarter of 2019. This landfill site order was secured from our channel partner Corycos Group and scheduled to be commissioned in the 2nd quarter of 2020. Corycos Group estimates the potential electrical generation could be as high as 1.8 Giga Watt hour or approximately $250,000 dollars in additional annual revenue generation for the site's owner.
"Our strategy of joint venture relationships in select regions is starting to play out," said Kam Mahdi, Chief Executive Officer of CETY. "We initially signed our joint venture agreement with Turkey based Corycos in December of 2018 and have seen results in less than a year. Their sales pipeline is expanding and with new technology and plans they expect additional growth."
Mr. Mahdi continued, "Our global strategy for regional implementation showcases our advanced technology originally developed by General Electric. We are planning to deliver many more units, together with long term power purchase agreements to the landfill owners and operators for similar applications within the region to provide them with additional revenues and higher returns on their investment."
Ahmet Yigit Kazanc and Hakan Dogan, Co-Founders of Corycos Group added: "CETY's ORC technology, with its superior magnetic bearing turbine, is a critical component in our strategy for our biogas sector to increase incremental revenue and reduce greenhouse gas. Waste heat to power represents the best cost/benefit opportunity for us to expand renewable generation capacity and achieve sustainability. This $1.1 million dual unit ORC installation on four biogas engines will make an excellent showcase for Corycos' existing network of customers in Turkey, Russia, Africa, Middle East, Central and Southern Asia."
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 & integrated solutions focused on energy efficiency and environmental sustainability. The Company's principal product is the Clean Cycle™ ORC 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