Business
CETY Enters Renewable Finance Business
COSTA MESA, Calif., May 11, 2021 /PRNewswire/ -- Clean Energy Technologies, Inc. (OTCQB: CETY), announced today that it has established a wholly owned
About this update from Clean Energy Technologies, Inc.
[{"type":"text","content":"COSTA MESA, Calif., May 11, 2021 /PRNewswire/ -- Clean Energy Technologies, Inc. (OTCQB: CETY), announced today that it has established a wholly owned subsidiary called CETY Capital, a financing arm of CETY to fund captive renewable energy projects producing low carbon energy. CETY Capital will add flexibility to the capacity CETY offers its customers and fund projects utilizing its products and clean energy solutions.\nCETY Capital provides an in-house financial arm supporting its sales and building new renewable energy facilities which management expects to improve profitability and margins. \nKam Mahdi, Chief Executive Officer of CETY, said \"the purpose of CETY Capital is to provide more consistent, positive total returns to CETY based on an extended funding balance sheet. At the same time, we will aim to protect downside funding risks by utilizing various special purpose funding vehicles. The new line of business supports our goal to increase production of energy using renewable resources of CETY's technology and equipment.\nThe financing arm should create renewable energy and be sold under long term contracts. In addition, we expect to capture additional cash flow from various tax and government subsidiaries. \nThe renewable energy financing business has many attractive benefits given the global energy transition toward renewable sources of energy and provides us with the opportunity to provide capital for commercially viable businesses using energy conversion technologies supplied by well-known vendors like CETY Technologies.\"\nWith new multiple project pipelines, management believes the company will increase diversification, reduce the overall cost of capital per project and improve profitability. \nAbout 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.\nThe Clean Cycle™ system captures waste heat from a variety of sources and turns it into electricity that can be used or sold ...