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CETY Completes Setup Of Wholly Owned Subsidiary In Hainan Island, China
COSTA MESA, Calif., Jan. 6, 2021 /PRNewswire/ -- Clean Energy Technologies, Inc. (OTCQB: CETY), a clean energy company focusing on products and solutions in
About this update from Clean Energy Technologies, Inc.
[{"type":"text","content":"COSTA MESA, Calif., Jan. 6, 2021 /PRNewswire/ -- 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 completed the establishment of its wholly owned subsidiary in Hainan Island, China, to take advantage of the tariff free trade zone, which sets the foundation of China Market expansion. \nOn June 1, 2020, the Chinese government released a master plan for polices to build Hainan Island, on China's south coast, into a globally significant free-trade port by 2050. Policies will be rolled out to facilitate trade, liberalize investment, allow capital to flow freely cross-border, make transit more convenient for people, and ensure the secure flow of data. Improvements to the taxation and legal systems will be made to support the development of high-tech industries, tourism, and modern services. \nHAINAN Clean Energy Technologies, Inc. is currently in discussions with Shenzhen Natural Gas to provide pilot project in a waste to power application for hospital organic waste. The wholly owned subsidiary is planned to be used as a special purpose vehicle to support CETY's global clean energy projects including waste heat to power and waste to energy with energy services agreement to design, build, own and operate clean energy plants.\n\"China is the biggest market for Clean Energy, and we expect substantial growth from Asia pacific region due to high industrialization. With the establishment of our wholly owned subsidiary and the recent agreements with two major partners we feel optimistic about our expansion and scaling up the business in the region,\" said Kam Mahdi, CEO of CETY.\nFor more information, visit www.heatrecoverysolutions.com and www.corycos.com\nAbout Clean Energy Technologies, Inc. (CETY)\nHeadquartered in Costa Mesa, California, Clean Energy Technologies (CETY) 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. \nThe Clean Cycle™ system captures waste heat from a variety of sources...