Irvine, CA, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Clean Energy Technologies, Inc. (“CETY”) (Nasdaq: CETY), a clean energy manufacturing and services company offering eco-friendly green energy solutions, clean energy fuels, and alternative electric power for small and mid-size projects in North America, Europe, and Asia, is pleased to announce the signing of a pivotal service agreement with Green Energy Ventures LTDA (“GEV”), a specialized consultancy firm in the renewable energy sector in Brazil. This partnership marks a significant step in CETY’s strategic expansion into the Brazilian market, positioning the company to capitalize on the growing demand for sustainable energy solutions in the region.
Under the terms of the agreement, GEV will act as CETY’s exclusive authorized distributor and commercial agent within Brazil, responsible for market assessment, business development, and the coordination of product installations. With this partnership, CETY is poised to tap into Brazil’s expanding market for energy efficiency and waste heat to power applications. GEV’s local presence and expertise will be key in securing contracts with major industrial players seeking to enhance their energy efficiency and reduce operational costs through CETY’s cutting-edge technology.
“We are excited to partner with Green Energy Ventures as we expand our waste heat to power footprint in Brazil,” said Kam Mahdi, CEO of Clean Energy Technologies, Inc. “Their knowledge and experience in the region’s energy sector are invaluable assets that will help us navigate the complexities of the Brazilian market and bring our innovative solutions to a new audience. We anticipate that this collaboration will unlock substantial sales opportunities, driving growth for both our companies while advancing sustainable energy practices in one of the world’s most dynamic markets.”
As part of the agreement, GEV will also provide comprehensive technical support, including logistics, importation, regulatory compliance, and training of local personnel. This holistic approach ensures that CETY’s products are not only introduced to the market but are also supported by the necessary infrastructure to maximize their impact and longevity. The collaboration is expected to accelerate the adoption of CETY’s energy efficiency solutions across various sectors, leading to new sales contracts for waste heat to power solutions.
This partnership is a significant milestone in CETY’s global growth strategy, reflecting the company’s dedication to expanding its presence in key markets and driving the adoption of energy-efficient technologies across the globe. The anticipated sales growth in Brazil underscores the increasing demand for sustainable energy solutions and CETY’s ability to meet that demand with innovative, high-performance products.
About Clean Energy Technologies, Inc. (CETY)
Headquartered in Irvine, California, Clean Energy Technologies, Inc. (CETY) is a rising leader in the zero-emission revolution by offering eco-friendly green 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 CycleTM generator to create electricity. Waste to Energy Solutions convert waste products created in manufacturing, agriculture, wastewater treatment plants and other industries to electricity and BioChar. Engineering, Consulting and Project Management Solutions provide expertise and experience in developing clean energy projects for municipal and industrial customers and Engineering, Procurement and Construction (EPC) companies.
CETY's common stock is currently traded on the Nasdaq Capital Market under the symbol CETY. For more information, visit www.cetyinc.com.
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This summary should be read in conjunction with the Company’s quarterly report on Form 10-Q for the quarterly period ended March 31, 2024 and other periodic filings made pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended, which contain, among other matters, risk factors and financial footnotes as well as a discussions of our business, operations and financial matters located on the website of the Securities and Exchange Commission at www.sec.gov.
About Green Energy Ventures LTDA
Green Energy Ventures LTDA is a dynamic Business Development and Innovation Consultancy and Holding Company, specializing in Renewables, Gas & Power, and Sustainability within the Brazilian energy market. GEV’s mission is to drive the transition to a low-carbon economy by developing cutting-edge opportunities and providing expert advisory services. With strategic partnerships in renewable energy, gas & power trading, and biogas, GEV is at the forefront of Brazil’s energy revolution. GEV’s Business Development and Services division excels in energy efficiency, go-to-market strategies, financial structuring, governance, and regulatory compliance. GEV empowers businesses to navigate the complex energy landscape in Brazil and beyond, ensuring sustainable growth and success.
Safe Harbor Statement
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. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the Company's current beliefs, expectations and assumptions regarding the future of CETY’s business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Company's control. Therefore, you should not rely on any of these forward-looking statements. Forward-looking statements can be identified by words such as: "anticipate," "plan," "expect," "estimate," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. Any forward-looking statement made by the Company in this press release is based only on information currently available to us and speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
Clean Energy Technologies, Inc.
Investor and Investment Media inquiries:
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Source: Clean Energy Technologies, Inc.
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