CETY(CETY)

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CETY Announces Continued Eligibility for Federal Clean Energy Incentives Under New Law, Solidifying Leadership in Advanced Green Technologies
Globenewswire· 2025-07-08 14:39
IRVINE, CA., July 08, 2025 (GLOBE NEWSWIRE) -- Clean Energy Technologies, Inc. (Nasdaq: CETY) (the “Company” or “CETY”), a clean energy technology company offering power generation, waste to energy, battery storage, and heat to power solutions to deliver affordable, scalable, and eco-friendly energy, clean fuels, and alternative electricity for a sustainable future, is pleased to announce that its technologies should remain fully eligible for federal clean energy tax incentives following the passage of the ...
Top 2 Energy Stocks Which Could Rescue Your Portfolio This Quarter
Benzinga· 2025-06-24 11:34
Core Insights - The energy sector has several oversold stocks that present potential buying opportunities for undervalued companies [1] - The Relative Strength Index (RSI) is a key indicator for identifying oversold conditions, typically below 30 [1] Company Summaries - Clean Energy Technologies Inc (CETY) has an RSI of 29.9, with a recent stock price of $0.25, reflecting a 20% decline over the past month [7] - Black Stone Minerals LP (BSM) has an RSI of 28, with a recent stock price of $12.95, showing a 7% decline over the past five days [7]
CETY Signs Non-Binding Offer with a European Solar and Wind Development Company
Globenewswire· 2025-05-23 21:19
Core Insights - Clean Energy Technologies, Inc. (CETY) has signed a Non-Binding Offer (NBO) with a European solar and wind development company, aiming to expand its operations into Europe and tap into the renewable energy market [1][3]. Financial Summary - CETY has secured an initial equity investment of $4,400,000, which will contribute to the estimated total deal size of approximately $85,000,000, contingent on scheduled milestones [2]. Market Expansion - The transaction is expected to provide CETY with a foothold in the lucrative European market for solar and wind power generation, supported by stable government policies that favor long-term growth in renewable energy [3]. Company Overview - CETY is headquartered in Irvine, California, and focuses on zero-emission energy solutions, including waste heat recovery and waste-to-energy technologies, catering to small and mid-sized projects across North America, Europe, and Asia [4]. Stock Information - CETY's common stock is traded on the Nasdaq Capital Market under the symbol "CETY" [5].
CETY(CETY) - 2025 Q1 - Quarterly Report
2025-05-20 21:10
Financial Performance - For the quarter ended March 31, 2025, total revenue was $791,940, a decrease of 47.7% compared to $1,513,026 for the same period in 2024, primarily due to minimal contributions from the China natural gas business[253]. - Gross profit for the quarter was $728,553, significantly up from $253,005 in the same period in 2024, reflecting improved margins from non-natural gas operations[254]. - The net loss for the quarter was $331,182, an improvement from a loss of $1,419,400 in the same period in 2024, attributed to reduced expenses and stronger margins[256]. - Revenue from the Clean Energy HRS segment was $612,354, a substantial increase from $72,488 in the same period in 2024, indicating a strong pipeline of opportunities[263]. - Revenue from the CETY Renewables segment was $176,105, slightly down from $211,568 in the same period in 2024, expected to stabilize until construction activities commence later this year[264]. - The natural gas business reported revenue of $3,481, a significant decline from $1,219,629 in the same period in 2024, due to macroeconomic factors and a strategic shift away from lower-margin activities[266]. - The net loss for the quarter was $331,231, significantly reduced by 76.7% from a net loss of $1,419,400 in the same period in 2024, attributed to higher-margin revenue from the HRS segment[279]. Operating Expenses - Operating expenses decreased to $824,656 from $1,073,926 year-over-year, driven by lower salary costs and reduced professional fees[255]. - For the quarter ended March 31, 2025, professional fees totaled $66,213, a decrease of 66.7% compared to $199,053 for the same period in 2024[274]. - Facility lease and maintenance expenses were $66,741, down 6.9% from $71,275 in the same period in 2024[275]. - Interest and finance fees increased to $339,821, up 15.1% from $295,193 in the same period in 2024, primarily due to interim financings for the Vermont Renewable Project[278]. Cash Flow and Financing - Net cash used in operating activities was $(776,047), an improvement of 11% compared to $(871,636) in the same period in 2024[281]. - Net cash provided by financing activities was $759,002, down 23.2% from $987,871 in the same period in 2024[281]. - Stockholders' equity increased by $12,657 to $2,951,159 compared to $2,938,502 as of December 31, 2024, primarily due to higher net income[256]. - The company plans to continue funding operations through equity sales, which may dilute existing stockholders[324]. Deferred Revenue and Customer Deposits - As of December 31, 2024, the company had $33,000 of deferred revenue expected to be recognized in Q2 2025[308]. - Outstanding customer deposits as of December 31, 2024, were $128,134, significantly up from $30,061 in 2023[309]. Accounting and Consolidation - The company recognized revenue over time for its biomass power plant construction projects, consistent with ASC 606 criteria[306]. - JHJ made an investment of RMB 3.91 million ($0.55 million) into Shuya during the year ended December 31, 2022, with a net loss of approximately $10,750 allocated to the company[314]. - Effective January 1, 2023, JHJ, SSET, and Xiangyueheng entered a Consistent Action Agreement to consolidate control over Shuya[315]. - Shuya is classified as a variable interest entity (VIE) of JHJ, leading to its consolidation in the financial statements effective January 1, 2023[317]. - The acquisition was accounted for using the acquisition method, with JHJ identified as the acquirer based on the Three-Parties Consistent Action Agreement[318]. - The fair value of non-controlling interests at the acquisition date was $650,951, and the total identifiable net assets recognized were $1,207,047[321]. - No goodwill was recognized in the acquisition, as the fair value of the consideration paid equaled the fair value of identifiable net assets[321]. - On January 1, 2024, the Termination Agreement was executed, resulting in the company holding less than 50% of voting rights in Shuya, thus ceasing its consolidation[322]. Market and Risk Disclosures - There are no significant off-balance sheet arrangements that could materially affect the company's financial condition[325]. - The company believes that recently issued accounting standards will not have a material impact on its consolidated financial position upon adoption[326]. - The company is classified as a smaller reporting company and is not required to provide certain market risk disclosures[327]. Future Outlook - CETY anticipates stronger revenue contributions from its Waste-to-Energy, Heat Recovery, and EPC segments in the latter half of the year, which are expected to deliver higher gross margins[256]. - The company is actively scaling its Engineering and project management operations to deliver comprehensive self-generation energy solutions globally[257].
CEO LETTER TO SHAREHOLDERS
Globenewswire· 2025-04-30 16:30
Core Insights - Clean Energy Technologies, Inc. (CETY) is committed to transparency and aims to provide shareholders with a clear understanding of its short-term objectives and long-term strategies [1][2] - The company is focused on adaptability in the clean energy market, aiming to capitalize on opportunities and drive sustainable growth while creating shareholder value [2][4] Company Strategy and Operations - CETY has made strategic moves to tighten operations and focus on areas that align with its strengths, forming partnerships to expand capabilities across multiple applications [4][7] - The Vermont Renewable Gas (VRG) biomass waste to energy project is highlighted as a major milestone, serving as a model for future clean energy infrastructure projects [4][5] - The company has successfully navigated a year-long permitting process for the VRG project, with all necessary permits secured except for the final sign-off from the Public Utility Commission [5] Project Development and Partnerships - CETY is growing its pipeline in heat to power and geothermal sectors, with a $500K project secured in Q1 2025 [6] - Strategic partnerships with Metis Power and Exergy position CETY as a full-scope eco-friendly energy and microgrid solutions provider, leading to multiple project bids under consideration [7][12] - The company collaborates with project developers and private equity partners, providing core technology and execution capabilities while partners lead on financing [12] Market Conditions and Challenges - Macroeconomic factors, such as declining natural gas prices and reduced industrial demand, are expected to lower near-term revenues from natural gas activities [8] - Tariffs are anticipated to affect the cost structure of heat-to-power products, prompting CETY to pursue international manufacturing partnerships to optimize efficiency [9] Financial Highlights - CETY has secured $12 million for construction and a $20 million long-term operations and maintenance agreement, serving as a technology provider and O&M partner [10] Future Directions - The company aims to deliver turnkey clean energy solutions, expand across multiple applications, and strengthen strategic partnerships to offer integrated microgrid and energy systems [18] - CETY prioritizes markets where it can lead, such as industrial manufacturing and data centers, leveraging proprietary technologies for reliable and cost-effective clean energy solutions [18]
CETY(CETY) - 2024 Q4 - Annual Report
2025-04-14 10:29
Revenue Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of $2,424,659, a significant decrease from $6,693,844 in 2023, reflecting a strategic shift and lower demand in certain segments [263]. - The revenue from CETY Renewables, the newly launched waste-to-energy business, increased to $1,064,757 in 2024 from $429,999 in 2023, driven by progress in the VRG project [266]. - The revenue from the natural gas business dropped to $1,192,420 in 2024, down from $5,719,170 in 2023, primarily due to lower demand in China and increased competition [267]. Profitability and Loss - Gross profit for the year ending December 31, 2024, increased to $846,555 compared to $460,835 in 2023, despite a decline in revenue, indicating improved operational efficiencies [268]. - The gross profit from CETY Renewables rose to $829,784 in 2024, up from $355,303 in 2023, highlighting the profitability of the higher-margin waste-to-energy segment [270]. - The company experienced a net loss of $4,416,319 for the fiscal year 2024, an improvement from the net loss of $5,782,666 in 2023, attributed to a shift in revenue mix [261]. - Net loss from operations increased to $3,112,847 in 2024 compared to a net loss of $2,925,984 in 2023, attributed to team expansion and revenue decline in the NG business [280]. Financial Position - As of December 31, 2024, the company had total stockholder's equity of $2,938,502 and an accumulated deficit of $27,443,231, indicating ongoing financial challenges [260]. - The company will continue to rely on equity sales of common shares for funding, with potential dilution to existing stockholders [325]. - There are no significant off-balance sheet arrangements that could materially affect the company's financial condition [326]. Operational Efficiency - Selling, General and Administrative (SG&A) expenses increased to $797,518 in 2024 from $679,004 in 2023, driven by investments in media, marketing, and IT infrastructure [272]. - Total salaries rose to $1,906,701 in 2024, up from $1,570,909 in 2023, primarily due to the expansion of the CETY Renewables team and salary increases in China [273]. - Travel expenses decreased to $185,876 in 2024 from $247,124 in 2023, reflecting reduced travel costs from the US and Europe [274]. - Facility lease expenses slightly decreased to $285,823 in 2024 from $310,004 in 2023, due to renegotiations and improved space utilization [275]. - Interest and finance fees decreased to $1,199,042 in 2024 from $2,137,649 in 2023, primarily due to reduced convertible notes and bridge financing fees [283]. - Cash flow used in operating activities improved to $(3,560,951) in 2024 from $(4,783,077) in 2023 [285]. - The company recorded a gain of $8,135 in debt settlement for 2024, compared to a loss of $1,124,654 in 2023 [282]. - Professional fees increased to $578,937 in 2024 from $356,785 in 2023, mainly due to costs associated with a new auditor and SEC filings [279]. - Bad debt expense remained at $0 for both 2024 and 2023, indicating effective credit management [277]. Strategic Initiatives - The company has established CETY Capital to fund renewable energy projects, enhancing its capacity to support clean energy initiatives [247]. - The strategic decision to discontinue involvement in the Shuya operations reflects a focus on core competencies in waste-to-energy and heat recovery solutions [250]. - The company aims to expand its higher-margin renewable energy and waste-to-energy solutions to drive sustainable profitability moving forward [268]. Deferred Revenue and Customer Deposits - As of December 31, 2024 and 2023, the company had deferred revenue of $33,000, expected to be recognized in Q2 2025 [311]. - Outstanding customer deposits as of December 31, 2024 and 2023 were $30,061 and $165,236, respectively [312]. Accounting and Reporting - Effective January 1, 2023, the company consolidated Shuya as a variable interest entity (VIE) due to a Consistent Action Agreement among shareholders [318]. - The fair value of non-controlling interests on January 1, 2023, was recorded at $650,951, with total identifiable net assets recognized at $1,207,047 [322]. - The company believes that the impact of recently issued accounting standards will not materially affect its consolidated financial position or results of operations upon adoption [327]. - The company is classified as a smaller reporting company and is not required to provide certain market risk disclosures [328].
CETY Signs MOU with Qymera Canada and Secures $500K Order for Monobore Geothermal Technology
Globenewswire· 2025-03-10 12:00
Core Insights - Clean Energy Technologies, Inc. (CETY) has signed a Memorandum of Understanding (MOU) with Qymera Canada Inc. to enhance clean energy solutions [1][3] - The partnership includes an initial order of $500,000 for two Clean Cycle units to support Qymera's monobore geothermal technology [2][6] Partnership Details - Qymera's monobore technology allows for shallower drilling, eliminating the need for injection wells, thus reducing operational complexity and costs [5][8] - The technology addresses seismic risks associated with traditional geothermal energy development by focusing on heat flow rather than steam generation [5][6] Strategic Benefits - The collaboration aims to provide reliable baseload power with zero carbon emissions for industries such as mining, manufacturing, and data centers [2][7] - CETY's end-to-end energy solutions are expected to expedite the market launch and deployment of these technologies [6][9] Technological Innovations - Qymera's system utilizes a proprietary resin to optimize heat transfer, significantly reducing the need for deep drilling and minimizing environmental impact [8][10] - The system requires less than 5 acres for a 10-megawatt installation, making it suitable for regions previously deemed unviable for geothermal power [8][10] Future Opportunities - CETY and Qymera will explore joint development opportunities for geothermal and heat-to-power solutions [9][10] - The pilot project in British Columbia aims to showcase the ability to provide reliable, eco-friendly power while generating carbon credits [7][10]
Clean Energy Technologies, Inc. Announces a Strategic Partnership with METIS Power to Provide Advanced Microgrid Solutions for AI Data Centers and Cryptocurrency Miners
GlobeNewswire News Room· 2024-11-21 13:45
Core Insights - Clean Energy Technologies, Inc. (CETY) has announced a strategic partnership with METIS Power to develop advanced microgrid solutions specifically for AI data centers and cryptocurrency mining operations [1][2] - The collaboration aims to address the increasing energy demands of these sectors by providing innovative, reliable, and sustainable microgrid solutions [2] Company Overview - CETY specializes in clean energy manufacturing and engineering, offering eco-friendly solutions, clean energy fuels, and alternative electric power for small and mid-sized projects across North America, Europe, and Asia [1][4] - The company's principal products include Waste Heat Recovery Solutions and Waste to Energy Solutions, which convert waste products into electricity and BioChar [4] Partnership Details - METIS Power is recognized for its scalable and efficient energy systems, integrating CETY's microgrid solutions to support data centers [2][3] - The partnership will leverage waste heat recovery systems to reduce cooling costs by utilizing wasted heat from natural gas turbines [2] - Customized microgrid solutions will optimize energy use, enhance efficiency, reduce operational costs, increase uptime, and minimize carbon footprints [2] Industry Context - Microgrids are essential for providing stable and resilient power supplies, particularly for energy-intensive operations like AI data centers and cryptocurrency mining [2] - The collaboration aligns with the growing demand for sustainable energy solutions in the face of increasing energy consumption in these industries [2]
CETY(CETY) - 2024 Q3 - Quarterly Report
2024-11-19 22:18
Financial Performance - For the nine months ended September 30, 2024, total revenue was $1,944,333, a decrease of 63.2% compared to $5,278,203 for the same period in 2023, primarily due to the deconsolidation of China operations [309][317]. - Gross profit for the nine months ended September 30, 2024, was $641,575, down from $992,943 in the same period in 2023, reflecting lower revenue from China operations [309][321]. - Operating expenses increased to $3,193,447 for the nine months ended September 30, 2024, compared to $2,463,090 for the same period in 2023, driven by higher salaries and professional fees [310][326]. - The net loss for the nine months ended September 30, 2024, was $3,550,669, compared to a net loss of $2,460,489 for the same period in 2023, attributed to increased salaries and professional fees [311]. - Revenue from the waste-to-energy segment was $231,679 for the nine months ended September 30, 2024, down from $779,720 in the same period in 2023, with a large $12M contract pending for the Vermont project [314]. - Revenue from the natural gas business amounted to $1,185,178, a significant decrease from $10,462,385 for the same period in 2023, due to the deconsolidation of revenue from China operations [320]. - Net loss increased to $3,550,669 for the nine months ended September 30, 2024, compared to a loss of $2,460,489 in 2023, driven by lower revenues and higher SG&A expenses [336]. Equity and Cash Flow - Stockholder's equity decreased to $3,583,444 as of September 30, 2024, compared to $5,869,198 as of September 30, 2023, primarily due to loss of revenue from China operations [315]. - Net cash used in operating activities was $(2,788,608) in 2024, an improvement from $(3,842,232) in 2023 [338]. - Net cash provided by financing activities decreased to $2,660,036 in 2024 from $3,906,498 in 2023 [338]. - Interest and finance fees decreased to $902,002 in 2024 from $1,707,690 in 2023, due to lower borrowing amounts [335]. - Customer deposits outstanding as of September 30, 2024, were $41,462, down from $210,310 as of December 31, 2023 [367]. Business Segments and Strategy - The company has established four business segments to diversify revenue streams, including Clean Energy HRS, Waste-to-Energy, Engineering and Manufacturing, and CETY HK [312]. - The company anticipates larger revenue contributions from higher gross margin segments such as Waste-to-Energy and Heat Recovery in the upcoming year [312]. - The company aims to leverage its presence in China for synergistic partnerships and technology transfers, particularly in the growing EV charging sector [325]. Expenses and Cost Management - Salaries expense increased to $1,481,316 for the nine months ended September 30, 2024, up from $957,759 in 2023, due to hiring key personnel and expanding the workforce [327]. - Travel expenses decreased to $135,964 in 2024 from $326,905 in 2023, attributed to reduced business travel in China subsidiaries [328]. - Professional fees rose to $484,990 in 2024 from $259,476 in 2023, due to engaging a new audit firm [329]. - Facility lease and maintenance expenses decreased to $230,798 in 2024 from $253,041 in 2023, resulting from relocating to a lower-cost facility [330]. Consolidation and Legal Matters - The Company concluded that Shuya is a variable interest entity (VIE) and will consolidate it into its financial statements effective January 1, 2023 [369]. - Following the Termination Agreement on January 1, 2024, the Company will no longer consolidate Shuya as it holds less than 50% of the voting rights [370]. - The Company plans to continue funding operations through equity sales, which may result in dilution for existing shareholders [373]. - There are no significant off-balance sheet arrangements that could materially affect the Company's financial condition [374]. - The Company is not currently involved in any legal proceedings that are likely to have a material adverse effect on its financial position [377]. Internal Controls and Compliance - The Company believes that the impact of recently issued accounting standards will not materially affect its financial position upon adoption [378]. - As of September 30, 2024, the Company's disclosure controls and procedures were deemed ineffective due to the lack of independent board members [380]. - There have been no significant changes in the Company's internal controls over financial reporting during the nine months ended September 30, 2024 [381].
Clean Energy Technologies, Inc. Signs Memorandum of Understanding with Freyr Technology Pte. Ltd. to Deliver AI Computing and Data Center Services
GlobeNewswire News Room· 2024-11-12 11:30
Core Viewpoint - Clean Energy Technologies, Inc. (CETY) has signed a memorandum of understanding with Freyr Technology Pte. Ltd. to provide AI Computing and Data Center services in Southeast Asia, addressing the growing market demand for these services [1][3]. Group 1: Partnership Details - CETY will collaborate with Freyr, which is a preferred partner of NVIDIA, to enhance technical solutions for optimizing Model Flop Utilization (MFU) of NVIDIA's GPUs [2][3]. - Freyr will lead client acquisition and Data Center operations, while CETY will provide the necessary NVIDIA infrastructure and support global marketing and sales efforts [3]. Group 2: Strategic Benefits - This partnership allows CETY to cross-sell its clean energy solutions to AI Data Centers, leveraging its expertise in energy efficiency to reduce operational costs [4]. - CETY specializes in eco-friendly energy solutions, including Waste Heat Recovery and Waste to Energy Solutions, which can be integrated into the operations of Data Centers [5]. Group 3: Company Overview - CETY is headquartered in Irvine, California, and focuses on zero-emission energy solutions for small and mid-sized projects across North America, Europe, and Asia [5]. - The company’s principal products include patented Clean Cycle™ generators and consulting services for clean energy project development [5].