Core Insights - Clean Energy Technologies, Inc. (CETY) announced that its affiliate, Vermont Renewable Gas, LLC (VRG), received a $1 million grant from the USDA under the Rural Energy for America Program (REAP) to support the development of a 2.2-megawatt renewable energy facility in Lyndon, Vermont [1][2] - The REAP initiative, funded through the Inflation Reduction Act, has a total budget of $1.05 billion aimed at promoting economic development and rural prosperity across the United States [1][2] - The VRG – Lyndon facility will utilize CETY's HTAP Biomass Reactor technology to convert waste biomass into renewable fuel gas and BioChar fertilizer, generating over 18,000 MWh of renewable electricity and 1,500 tons of BioChar annually [3][7] Company Strategy - CETY is focusing on HTAP applications for various types of waste, including agricultural, forestry, industrial, and municipal solid waste, capitalizing on increasing state and federal incentives for clean energy solutions [4] - The company aims to create a vertically integrated and scalable platform for clean energy solutions across multiple industries, enhancing its market presence globally [5] - CETY's existing organic rankine cycle (ORC) business will benefit from biomass projects, potentially increasing energy value by 15% through synergies with heat recovery solutions [6] Future Outlook - The VRG – Lyndon project is expected to serve as a model for future projects in the biomass renewable energy sector, with plans for larger projects that could significantly impact the environment and generate new income sources for CETY [9] - The company anticipates that the combination of public and private funding will facilitate the success of the VRG – Lyndon project, with ongoing commitments from federal programs [8]

Core Insights - Clean Energy Technologies, Inc. (CETY) is actively participating in Latvia's economic delegation visit to the US, focusing on expanding its clean energy solutions in North America, Europe, and Asia [1][2] - The visit marks the first high-level economic delegation from Latvia to the US, aimed at fostering economic cooperation and exploring business opportunities in California [3][6] Company Overview - CETY specializes in eco-friendly green energy solutions, clean energy fuels, and alternative electric power for small and mid-sized projects [7] - The company has evolved from a focus on waste heat recovery to a comprehensive energy solutions provider, offering expertise in system design, generation, storage, distribution, and management [4] Recent Developments - CETY has been involved in a waste heat to energy project in Latvia since 2018, collaborating with EkoNams, a company focused on Scandinavian-style log homes [5] - The company is in discussions with other Latvian enterprises for potential collaborations and partnerships [5] Leadership Engagement - CETY's CEO, Kam Mahdi, presented at a program discussing California technology research and investment, highlighting the company's growth and global focus [2][4] - The delegation included significant meetings with major tech companies such as Microsoft, Google, NASA Ames, and Meta, with a focus on AI and its implications across various sectors [3]

Revenue Performance - For the six months ended June 30, 2024, total revenue was $1,709,151, a decrease of 47.8% compared to $3,274,001 for the same period in 2023, primarily due to lower revenue from the natural gas business and deconsolidation of the Shuya entity [204][209]. - Revenue from the natural gas business amounted to $1,219,629, down 56.3% from $2,796,649 for the same period in 2023, due to economic slowdown in China and strategic focus on non-Chinese markets [212]. - Revenue from the waste-to-energy segment was $331,487, a decrease from $385,404 for the same period in 2023, with expectations for significantly higher revenue in the future [211]. - The engineering and manufacturing segment generated revenue of $9,341, down from $36,332 for the same period in 2023, as the team transitions to establish an innovation center in Europe [210]. Profitability and Loss - Gross profit for the six months ended June 30, 2024, was $429,035, slightly lower than $444,018 for the same period in 2023, with higher margins attributed to non-natural gas operations [204][213]. - The net loss for the six months ended June 30, 2024, was $2,251,278, compared to a net loss of $1,868,163 for the same period in 2023, driven by increased salaries and marketing expenses [205]. - Net loss for the six months ended June 30, 2024, was $2,251,278, an increase from the loss of $1,868,163 in the same period of 2023, driven by higher expenditures in salaries, IT, and legal fees [224]. Expenses - Salaries expense for the six months ended June 30, 2024, totaled $966,843, a significant increase from $535,237 in the same period of 2023, attributed to hiring key personnel and expanding the workforce [216]. - Travel expenses decreased to $81,224 for the six months ended June 30, 2024, compared to $200,139 in the same period of 2023, due to reduced travel related to China NG business development [217]. - Professional fees increased to $353,065 for the six months ended June 30, 2024, from $177,437 in the same period of 2023, primarily due to engaging a new audit firm [218]. - Interest and finance fees decreased to $422,863 for the six months ended June 30, 2024, down from $1,349,594 in the same period of 2023, due to fewer notes and bridge financing [223]. Cash Flow and Financing - Net cash used in operating activities was $(1,612,034) for the six months ended June 30, 2024, compared to $(2,620,809) in 2023, indicating improved cash flow management [224]. - Net cash provided by investing activities increased to $83,160 for the six months ended June 30, 2024, from $14,319 in the same period of 2023 [224]. - Net cash provided by financing activities was $1,828,380 for the six months ended June 30, 2024, down from $3,159,324 in the same period of 2023, reflecting changes in financing strategy [224]. - The company is working to finalize financing for its Vermont project in Q3 2024, as it currently relies on high-cost financing options [223]. Financial Position - The company had a working capital of $300,071 and an accumulated deficit of $25,429,293 as of June 30, 2024, raising concerns about its ability to continue as a going concern [203]. - Stockholder's equity decreased to $4,579,726 as of June 30, 2024, from $5,869,198 as of December 31, 2023, primarily due to the net loss for the year-to-date results [205]. - As of June 30, 2024, the company had $33,000 of deferred revenue expected to be recognized in Q4 2024, and outstanding customer deposits of $41,462 [240]. Strategic Outlook - The company expects larger revenue contributions from waste-to-energy, heat recovery, and engineering, procurement, and construction (EPC) segments in the latter half of the year [206]. - The four-segment strategy is believed to create operational synergies and cross-selling opportunities, with a positive outlook driven by global commitments to renewable energy [208]. - The Company will continue to rely on equity sales of common shares to fund business operations, which may result in dilution for existing stockholders [246]. Accounting and Compliance - Shuya is determined to be a variable interest entity (VIE) of JHJ, leading to its consolidation into the financial statements effective January 1, 2023 [242]. - Following the Termination Agreement on January 1, 2024, Shuya will no longer be consolidated as the Company holds less than 50% of the voting rights [243]. - There are no significant off-balance sheet arrangements that could materially affect the Company's financial condition or results of operations [247]. - The Company believes that recently issued accounting standards will not have a material impact on its consolidated financial position or results of operations upon adoption [248].

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 partnersh ...

NorthStar Clean Energy and General Motors launch Newport Solar to help power GM facilities ANN ARBOR, Mich., Aug. 7, 2024 /PRNewswire/ -- NorthStar Clean Energy proudly announces the official opening of Newport Solar, a 180 MW project designed to source renewable electricity for General Motors' operations in the Midcontinent Independent System Operator (MISO) territory including Lansing Delta Township Assembly and Lansing Grand River Assembly in Michigan, as well as Wentzville Assembly in Missouri, which un ...

Irvine, CA., Aug. 06, 2024 (GLOBE NEWSWIRE) -- Clean Energy Technologies, Inc. ("CETY" or the "Company") (Nasdaq: CETY) CEO Kam Mahdi joined a California delegation to Riga, Latvia, which was led by Treasurer Fiona Ma, Senator Josh Newman, and former Senator Robert Hertzberg. The purpose was to meet with Latvian government and business leaders to discuss business investment, economic and technological collaboration, and development opportunities in key Baltic growth sectors. With nearly 12,000, California i ...

Irvine, CA., Aug. 06, 2024 (GLOBE NEWSWIRE) -- Clean Energy Technologies, Inc. ("CETY" or the "Company") (Nasdaq: CETY) CEO Kam Mahdi joined a California delegation to Riga, Latvia, which was led by Treasurer Fiona Ma, Senator Josh Newman, and former Senator Robert Hertzberg. The purpose was to meet with Latvian government and business leaders to discuss business investment, economic and technological collaboration, and development opportunities in key Baltic growth sectors. With nearly 12,000, California i ...

CETY is focusing on HTAP applications for forestry waste, agricultural waste, industrial and municipal solid waste, and landfill 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. This project will also benefit from the Inflation Reduction Act passed in August of 2022. Clean Energy Technologies, Inc. Investor and Investment Media inquiries: 949-273-4 ...

CETY is focusing on HTAP applications for forestry waste, agricultural waste, industrial and municipal solid waste, and landfill 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. This project will also benefit from the Inflation Reduction Act passed in August of 2022. Kam Mahdi, CEO of CETY, stated "This permit issued by Vermont DEC is one of severa ...

Irvine, CA., June 11, 2024 (GLOBE NEWSWIRE) -- Clean Energy Technologies, Inc. ("CETY" or the "Company") (NASDAQ:CETY) announced today that Vermont Renewable Gas, LLC ("VRG"), an affiliate of CETY in which CETY indirectly retains 49% ownership interest, has been selected by the United States Department of Agriculture (USDA) as one of 171 Wood Innovations Grant recipients. Administered by the USDA's U.S. Forest Service, this $74 million initiative is made possible in part by the bipartisan Infrastructure Law ...