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IRVINE, CA - Clean Energy Technologies, Inc. (NASDAQ:CETY), a provider of eco-friendly energy solutions, has announced a strategic agreement with Sagacity, a company focused on clean energy and distribution. The partnership, which involves an initial $400,000 in sales, comes at a crucial time as InvestingPro data shows the company facing liquidity challenges with a current ratio of 0.5. The agreement aims to advance the development of a new 350 kW magnetic bearing Organic Rankine Cycle (ORC) system for large industrial and commercial applications.
This collaboration is expected to enhance CETY’s supply chain by enabling efficient manufacturing and distribution of its proprietary Clean Cycle II (CCII) ORC systems, while also driving the development of next-generation ORC technologies. The agreement underscores CETY’s commitment to scaling its ORC technology to meet the growing energy needs of various sectors, including Biomass, Oil & Gas, and Data Centers.
The new 350 kW ORC system, which is currently under development, is designed to improve energy efficiency and reduce operational costs. This technology is seen as a significant step forward in heat recovery innovation, with the potential to support new opportunities for clean energy deployment.
Kam Mahdi, CEO of Clean Energy Technologies, stated, "This agreement with Sagacity is more than a sales milestone; it’s a catalyst for scaling our ORC technology to serve larger and more complex energy needs." He emphasized the importance of expanding the company’s manufacturing and distribution capabilities to enhance supply chain resilience, reduce costs, and accelerate the commercialization of waste heat recovery solutions. The expansion strategy comes amid challenging financial metrics, with InvestingPro reporting a significant revenue decline of 63.78% in the last twelve months, though maintaining a gross profit margin of 34.91%.
The initial sales under this agreement include the delivery of Clean Cycle II ORC units, essential system components, and engineering support. CETY and Sagacity will continue to work together to advance ORC technology with the goal of maximizing energy recovery and improving affordability. According to InvestingPro analysis, which offers 14 additional exclusive insights about CETY, the company’s current valuation suggests it may be trading above its Fair Value, making this strategic partnership particularly crucial for future growth prospects.
CETY’s strategic move is not only expected to generate revenue but also to position the company for long-term scalability and cost-effective deployment. This partnership represents a step towards the global adoption of waste heat-to-power solutions that contribute to energy efficiency and decarbonization efforts worldwide.
The information provided is based on a press release statement from Clean Energy Technologies, Inc.
In other recent news, Clean Energy Technologies, Inc. (CETY) announced a new partnership with Qymers Canada Inc. to advance geothermal technology through a Memorandum of Understanding. The agreement includes an initial $500,000 order for two Clean Cycle units, which will support the development of Qymers’ geothermal technology. This collaboration aims to provide sustainable power solutions with zero carbon emissions across various industries. As part of the partnership, CETY’s heat-to-power generator will be integrated into Qymers’ geothermal projects, with both companies exploring further development opportunities. The pilot project in British Columbia will demonstrate the potential for reliable, eco-friendly power generation and the creation of carbon credits. Qymers’ innovative approach involves a monobore geothermal system that reduces the need for deep drilling and injection wells, addressing seismic concerns and lowering environmental impacts. CETY’s CEO, Kam Mahdi, highlighted the potential of these technologies to contribute to global green initiatives. The partnership reflects CETY’s commitment to accelerating the deployment of turnkey energy solutions.
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