Business
CETY Signs A Manufacturing Agreement With Envirepel Energy A Renewable Energy Company With Multi-Million Dollar Power Agreement With Major California Utility Company
COSTA MESA, Calif., Aug. 26, 2020 /PRNewswire/ -- Clean Energy Technologies, Inc. (OTCQB: CETY), a clean energy company focusing on products in the energy
About this update from Clean Energy Technologies, Inc.
[{"type":"text","content":"COSTA MESA, Calif., Aug. 26, 2020 /PRNewswire/ -- Clean Energy Technologies, Inc. (OTCQB: CETY), a clean energy company focusing on products in the energy efficiency and environmental sustainability market, announced today that it has signed a manufacturing agreement to build proprietary equipment designs from Envirepel Energy. Under the terms of this agreement CETY's engineering and manufacturing services will manufacture the emission control and electronic control systems for each Envirepel's biomass energy projects to their specifications equating to approximately $2M and sell the Product to Projects developed by Envirepel Energy. \nEnvirepel is a renewable energy company that develops clean energy projects selling power to public utilities that has developed an agricultural green waste to energy project that will generate approximately 3 MW of power, delivering energy under a 20 year power purchase agreement (PPA) to Southern California Edison. The company has additional projects in development that can include CETY ORC heat recovery equipment.\nInfrastructure projects like the construction of biomass and waste to energy plants that are designed to not pollute the environment as previous technologies have, are poised to capitalize on the legislation that mandates the elimination of organic waste from landfills.\nThis announcement follows the release of CETY's 10-Qs which indicates the company was cashflow positive the first quarter of 2020, showing the company is progressing towards their growth milestones despite the World's recent events.\n\"This agreement represents an organic expansion of our business model,\" said Kam Mahdi, CEO of CETY. \"Our value proposition is so closely aligned with renewable energy producers it just makes sense to become more than just a value-added supplier of equipment\". \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. We design, produce and market clean energy products & solutions focused on energy efficiency and renewable energy. 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 wast...