COSTA MESA, Calif., Dec. 1, 2017 /PRNewswire/ -- Clean Energy Technologies, Inc. (CETY) announced today that its subsidiary Heat Recovery Solutions (HRS) has secured another new Clean Cycle™ Organic Rankine Cycle (ORC) generator order. A woodworking company in Latvia is building a new biomass application that employs wood fuel to heat boilers to generate heating. The excess heat will be used to power CETY's HRS Clean Cycle™ generator to create electricity. The conversion process requires no additional fuel, produces no additional emissions, and delivers base-load power that may be used on-site or sold to the grid thereby creating additional returns for the user. This unit will add to the growing number of more than 100 units already installed globally and with more than 1,000,000 hours of fleet operations.
Kam Mahdi, CETY CEO, said, "There is a large global market for 'excess wasted heat to power' in fuel-fired reciprocating engines, boilers, biomass operations, CHP, landfills, waste to energy plants, and several other applications where large amounts of heat are lost. We offer a proven, proprietary technology to recover a significant portion of this lost energy as our products increase efficiency, reduce costs, increase revenues and lower the carbon footprint of existing production facilities and processes. We have successfully initiated sales in our targeted markets and look forward to creating scalability through these verticals."
CETY has successfully initiated sales this year in the U.S., Europe, and the Pacific Rim. Clean Cycle™ systems have been or are planned to be commissioned at the prominent 1542 high-rise building on Broadway in NY, 3 systems in Nashville, Tennessee at Aries Clean Energy, 2 biomass applications in Europe, and 2 systems to a power plant in the Pacific Rim.
Mr. Mahdi says, "We are excited to see these early sales and we look forward to expanding our efforts with the biomass, fuel and process markets that provide our customers with energy efficient solutions that lower costs, provide clean energy, and create substantial financial returns."
About Clean Energy Technologies, Inc. (CETY)
Clean Energy Technologies, Inc. designs, builds, and markets clean energy products focused on energy efficiency and environmental sustainability technologies. The Company's principal product is the Clean CycleTM heat recovery generator (HRG), 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 industrial processes or energy production, to boost their overall energy efficiency with no additional fuel, no pollutants, and little ongoing maintenance. CETY's engineering and manufacturing resources support the Heat Recovery Solutions business, as well as CETY's other technologies. Headquartered in Costa Mesa, California, 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 release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may be identified my words such as "expect," "look forward to," "anticipate," "intend," "plan," "believe," "seek," "estimate," "will," "project," or words of similar meaning. Because such statements include risks, uncertainties and contingencies, many of which are outside our control, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks, uncertainties, and contingencies include, but are not limited to those relating to: changes in general economic and market conditions; future technology performance; market acceptance and adoption of CETY's products and competitive products; the availability of financing; the acquisition and integration of business assets and operations, technologies, or companies; and other risk factors as outlined in CETY's periodic reports, as filed with the U.S. Securities and Exchange Commission. Forward-looking statements speak only as of the date on which such statements were made, and we undertake no obligation to update any such statements that may become untrue because of subsequent events.