Clean Energy Technologies, Inc. Announces $10M EPC Contract with Vermont Renewable Gas, LLC for Lyndonville, Vermont Facility

COSTA MESA, CA., July 12, 2023 (GLOBE NEWSWIRE) -- Clean Energy Technologies, Inc. (NASDAQ: CETY) (“CETY” or the “Company”), a rising leader in clean energy solutions, announced today that it has entered into a fixed-price engineering, procurement, and construction (EPC) contract with Vermont Renewable Gas, LLC for the proposed Lyndonville biogas to power facility. The EPC contract, valued at $10 million, demonstrates CETY's leadership in clean energy solutions.

CETY will spearhead the design, construction, and operation of the $10 million facility, placing its revolutionary HTAP Biomass Reactor, a high temperature ablative fast pyrolysis reactor, at the heart of the project. Situated in Lyndonville, Vermont, this facility will convert low-grade, woody fiber sourced from local working lands into biogas and BioChar fertilizer. The renewable fuel gas produced will be harnessed to generate sustainable electricity and heat. Anticipated to be fully commissioned within 12 months, the plant is projected to deliver over 14,600 MWh of renewable electricity and 1,500 tons of BioChar annually. With the EPC agreement executed, project engineering and permitting are now underway.

Kam Mahdi, CEO of CETY, stated “The Lyndonville project is the first of many anticipated renewable biomass projects and is expected to serve as a model for developing new project opportunities to capture market share in this highly profitable and growing industry. Execution of this EPC contract allows CETY to begin development of this innovative facility in Vermont. We hope that this project will catalyze additional project opportunities in the areas of renewable electricity and low-carbon fuels while realizing new revenue in engineering and clean energy equipment sales.”

CETY is focused on HTAP applications for industrial and municipal solid waste, landfill waste, agricultural waste, and forestry waste. This builds on the current increase in incentives for investment in clean energy solutions for commercial and industrial users, as well as a surge in interest in clean energy solutions in municipalities. Additionally, the project aligns with the benefits introduced by the Inflation Reduction Act passed in August 2022. In tandem with CETY’s existing technologies and solutions, these projects propel the Company’s mission of providing a vertically integrated and scalable platform for clean energy solutions across various industries in key global markets.