COSTA MESA, Calif., March 1, 2016 /PRNewswire/ -- Clean Energy Technologies, Inc. (OTC: CETY), recently announced its acquisition of Heat Recovery Solutions assets, patents & licenses from General Electric International, Inc. This proprietary Magnetic Bearing Turbine Technology will serve as the foundation of the Company's new focus on clean energy and environmentally sustainable technologies.
The Heat Recovery Solutions system (HRS) captures waste heat from a variety of sources and turns it into electricity that users can use or sell back to the grid. There are currently more than 100 units installed by GE globally with more than 1,000,000 fleet operating hours.
Heat Recovery Solutions Clean CycleTM heat-to-power generator is a compact, modular system that converts waste heat – from an array of heat sources – into power. The conversion process requires no additional fuel, produces no additional emissions, and delivers base-load power that may be used on-site or sold to the grid.
HRS Clean Cycle is designed for reciprocating engine, Biomass and Gas Turbine applications and generates electricity in a process called the Organic Rankine Cycle (ORC). The process is similar to the steam cycle, except that the ORC uses a working fluid (in place of water) with a lower boiling point, enabling access to a greater range of heat sources.
Many things generate heat, but a common, easy to access source is the exhaust from power generation equipment. 3/5 of the primary energy used in power plants becomes waste heat. The United States industrial sector accounts for 1/3 of all energy used in the United States. During these manufacturing processes, as much as 20 to 50% of the energy consumed is ultimately lost via waste heat contained in streams of hot exhaust gases and liquids. Heat is the only input required for the Clean Cycle unit to generate electricity, one unit generates 140KWH of electricity and avoids 196,000 liters of diesel / year per engine.
"There's a huge global potential of heat to power market in the fuel fired reciprocating engines, boilers and geothermal application. We offer a proven, proprietary technology to recover a significant portion of this lost energy. This technology increases efficiency, reduces costs, increases revenue and lowers the carbon footprint of existing production facilities and processes. Acquiring a proven, proprietary clean technology product that we can offer worldwide to a significant addressable market solidifies the Company's strategy to be a clean energy technology solutions provider," said Kam Mahdi, CEO of CETI.
About Clean Energy Technologies, Inc.
Clean Energy Technologies, Inc. designs, builds and markets clean energy products focused on energy efficiency and environmentally sustainable technologies. The Company's principal product is the Clean CycleTM generator, offered by Heat Recovery Solutions, or HRS www.heatrecoverysolutions.com. The Company's engineering and manufacturing resources support its heat recovery solutions business, as well as continuing to support other Clean Energy emerging growth companies with their technologies. CETI is positioned to become a worldwide leader in ever expanding energy efficiency market. Headquartered in Costa Mesa, California, the Company's common stock is currently traded on the OTC Market under the symbol CETY. For more information, visit www.ceti.io or www.heatrecoverysolutions.com.
This release contains certain forward-looking statements (under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. Because such statements include risks, uncertainties and contingencies, 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, the following: uncertainties relating to changes in general economic and market conditions; uncertainties relating to technology performance; uncertainties relating to market acceptance and adoption of the Company's products and competitive products; uncertainties and liabilities relating to the acquisition of business assets, technologies or companies; and other risk factors as outlined in the Company's periodic reports, as filed with the U.S. Securities and Exchange Commission. Forward-looking statements in this document 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.
SOURCE Clean Energy Technologies, Inc.