Clean Energy Technologies (CETY) Launches Pacific Rim Initiative
Aug 15, 2017, 09:15 ET
COSTA MESA, Calif., Aug. 15, 2017 Clean Energy Technologies, Inc. (OTC: CETY) announced that CETY officially launched its new campaign to deliver its energy solutions to Island Nations utilities at the Pacific Power Association's Annual Conference held earlier this month in Western Samoa. CETY's Island Nation campaign is a key part of CETY's global initiative to help utilities and other target customers meet their energy efficiency and sustainability goals.
The PPA conference is a meeting of the utility leaders of Island Nations with select industry invitees. At the PPA conference, CETY representatives met with Island Nation utility leaders and representatives of their technical teams to discuss the implementation of CETY's proprietary Clean CycleTM sustainable energy solutions.
From the discussions with utility representatives at the PPA conference, the CETY team identified in excess of 20 installations for its proven Clean Cycle™ II generator, which is based on the proprietary oil-free magnetic levitation turbine technology CETY acquired from General Electric International Inc. CETY's CEO, Kam Mahdi, said, "We were very pleased and encouraged by the positive responses that our Clean Cycle™ heat recovery solutions technology and products received at the PPA conference. We believe that we successfully communicated to key utility leaders the technical and operating advantages of the Clean Cycle™ technology over traditional oil-lubricated screw expander technologies. We expect our magnetic-bearing Organic Rankine Cycle technology will be able to play a key role in assisting both Island Nations utilities and utilities world-wide in achieving their energy sustainability and climate change goals."
At the PPA conference, CETY also announced that it expects to commission its two Clean Cycle™ heat-to-power generators installed in Majuro, Marshall Islands for the Marshall Electric Company (MEC) to help MEC offset engine fuel use and reduce CO2 emissions.
"CETY's implementation for MEC also includes CETY's creative lease financing structure, which we hope will facilitate rapid adoption and implementation of Clean Cycle™ solutions by other utilities world-wide. We believe the ease of entry and long-term payment structure of the financing allows the utility user to align its investment with actual energy and cost savings realized through use of Clean Cycle™ units," said Kam Mahdi, CEO of CETY.
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.
Clean Energy Technologies, Inc.
Kam Mahdi, CEO
Clean Energy Technologies, Inc.
John Bennett, CFO
SOURCE Clean Energy Technologies, Inc.
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