COSTA MESA, Calif., Feb. 25, 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 signed a Memorandum of Understanding (MOU) with Meishan California Smart Town Development Investment Company Ltd., China, to provide equipment and establish offices in Meishan California Smart City, located at Tianfu New Area, Sichuan Province, China.
Meishan California Smart City is a visionary new development combining the pioneering cultures of California and Sichuan to foster innovation, invention, and sustainability. The new city will champion new technologies, with a focus on clean and renewable energy breakthroughs; testing, inspection, and certification; hydrogen fuel; ag tech; and IOT and is anticipated to become a model for future smart cities.
Meishan City leaders have endorsed the concept of Meishan California Smart City as a 900-acre development project embracing California's energy standards. The city is expected to feature California technology companies and provide state of the art facilities for innovation, research and development in clean and renewable energy, and opportunities for collaboration for complementary enterprises, products and services.
CETY's energy efficiency products and solutions are well suited for and may be utilized in Meishan California Smart City's green buildings, energy supply, and waste to energy plants that will be a part of the development project. CETY plans to use its presence at MCSC to market its products and services to the 500 million residents of Sichuan and five adjacent provinces, to other provinces across China, and to other countries in Asia.
The MOU provides that the parties will cooperate to negotiate a definitive agreement within three months to define logistics, funding, incentives, technical requirements, and the start date for the CETY's official landing at Meishan California Smart City.
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.
About Meishan California Smart City
Meishan California Smart City (MCSC), is a new 900-acre (5,463 mu) development located in Sichuan Province, 30 miles south of Chengdu in the Tianfu New Area. Designated by the government for development as an urban center of commerce and industry, Tianfu New Area is focused on technology, manufacturing, and high-end service clusters and is home to MCSC and several other developments. The focus of the ground up MCSC development will be renewable energy generation, storage, IOT, and related technologies, testing, inspection, and certification of energy products. With a master plan by AECOM, MCSC will offer a fully integrated physical and data infrastructure built to human scale with a live-work quality that attracts and retains business enterprises, institutions, and residents.
Sichuan Province has long been an iconic international destination for eco-tourism, known for its culture and cuisine, five UNESCO World Heritage Sites including the Sichuan Giant Panda Sanctuaries, the birthplace of Daoism, and the birthplace of renowned literati including Su Dongpo, named one of the world's top 100 greatest poets of all time. Sichuan Province was a starting point for the Silk Road trading route and is now an integral part of the Belt and Road Initiative. Two international airports, high speed rail, and superhighways service the region, providing ease of travel and creating excellent logistics for broad scale product distribution. MCSC is proximate to five high technology universities with access to trained technology graduates, adding to its strategic value to enterprises seeking global expansion.
MCSC is a joint venture between COFCO, China's largest food processor, and the MCST Development Investment Group Ltd.
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
SOURCE Clean Energy Technologies, Inc.