Clean Energy Technologies Reports Third Quarter 2023 Financial Results and Provides Business Update - Seite 2

CETY continued its aggressive growth strategy in Q3 2023 and has achieved a significant milestone in its waste to energy segment.

Vermont Renewable Gas LLC (VRG), an affiliate of CETY, successfully secured a 20-year Power Purchasing Agreement (PPA) with VEPP, Inc., a not-for-profit corporation that administers two of Vermont’s Renewable Energy Programs under contract with the Vermont Public Utility Commission. The PPA is valued at $53 million. The project has entered its final permitting stage and is expected to begin construction in Q1 2024, allowing CETY to continuously recognize revenue from the $10 million EPC contract already in place with VRG.

As temperatures fall, the natural gas (NG) trading business is entering its high season and CETY expects increased margins from fulfilling potential upstream shortfalls. CETY has also stepped up its cross-selling efforts in China and identified opportunities to deploy our waste to energy technology.

HRS has finalized an agreement with RPG Energy Group Inc. (“RPG”) and Stanley Black & Decker (“SBD”) to design, build, and install a Clean Cycle waste heat recovery system at SBD’s Martin Energy facility. CETY and RPG are well-positioned to deploy this cutting-edge thermal waste conversion technology, which will benefit Stanley Black & Decker's facility and its environmental and sustainable goals. CETY will also work to identify additional opportunities to expand the application of this solution across Stanley Black & Decker's operations.

CETY’s Clean Cycle ORC will bring environmental and sustainable benefits to Stanley Black & Decker’s facility. This joint venture with RPG and Stanley Black & Decker will significantly enhance the scalability of CETY’s heat recovery solutions. Additionally, the investment tax credit also offers customers increased incentive to implement waste heat generators and other forms of energy recovery solutions. This is a great opportunity to capitalize on, and the company is excited to see future plants replicate this model.

About Clean Energy Technologies, Inc. (CETY)

Headquartered in Costa Mesa, California, Clean Energy Technologies (CETY) is a rising leader in the zero-emission revolution by offering recyclable energy solutions, clean energy fuels and alternative electric power for small and mid-sized projects in North America, Europe, and Asia. We deliver power from heat and biomass with zero emission and low cost. The Company's principal products are Waste Heat Recovery Solutions using our patented Clean Cycle^TM generator to create electricity. Waste to Energy Solutions converting waste products created in manufacturing, agriculture, wastewater treatment plants and other industries to electricity and BioChar. Engineering, Consulting and Project Management Solutions providing expertise and experience in developing clean energy projects for municipal and industrial customers and Engineering, Procurement and Construction (EPC) companies. Our NG trading operations in China is to source and supply Natural Gas to industries and municipalities located in China.