CETY Secures $10 Million Battery Energy Storage Project in New York — First of Multiple Large-Scale Systems Expected to Follow

Core Insights - Clean Energy Technologies, Inc. (CETY) has secured a $10 million Battery Energy Storage System (BESS) project in New York, marking its largest storage project to date and the first of several planned deployments in the state [1][3]. Project Details - The New York project involves a 5MW / 20MWh standalone energy storage system aimed at enhancing grid reliability, peak-shaving, and participation in New York's Value of Distributed Energy Resources (VDER) program [2]. - There is potential to expand the energy storage capacity to a maximum of 20MW/80MWh, depending on grid interconnection availability [2]. Company Strategy and Financial Position - CETY will act as the Engineering, Procurement, and Construction (EPC) contractor for the project, which is seen as a significant milestone for its energy storage business [3]. - The company is entering the new year with over $20 million in contracted project backlog, indicating strong demand for its EPC, waste-to-energy, and heat-to-power systems [3][4]. - CETY aims to execute larger, higher-margin projects to achieve free-cash-flow positivity and improve access to inexpensive capital, positioning itself for strategic mergers and acquisitions [4]. Multi-Technology Strategy - The project aligns with CETY's multi-technology strategy, which includes waste-to-energy, heat-to-power, and power generation initiatives [5]. - By expanding into large-scale storage infrastructure, CETY is strategically positioning itself at the intersection of grid modernization, electrification, and distributed energy resources [5].