Domo signs strategic collaboration agreement with AWS for AI solutions
In a challenging market environment, Clean Energy Technologies (CETY) stock has reached its 52-week low, trading at $0.34, with InvestingPro analysis indicating the company’s overall financial health score as WEAK. This price level reflects a significant downturn for the company, which has experienced a 1-year change with a sharp decline of -70.23%. Investors are closely monitoring CETY’s performance as the clean energy sector faces headwinds, with the company’s stock price struggling to regain momentum amid concerning fundamentals, including negative EBITDA of -$2.38M and a high Price/Book ratio of 6.38x. The current low represents a critical juncture for Clean Energy Technologies, as market participants consider the company’s future prospects and the broader implications for the industry. InvestingPro subscribers can access 7 additional key insights and detailed financial metrics to make more informed investment decisions.
In other recent news, Clean Energy Technologies, Inc. (CETY) has secured $12 million in funding for the Vermont Renewable Gas biomass waste-to-energy project. The project also includes a $20 million long-term operations and maintenance agreement, highlighting CETY’s role as the technology provider and partner. In addition, CETY announced a strategic agreement with Sagacity, which involves an initial $400,000 in sales to develop a 350 kW magnetic bearing Organic Rankine Cycle system for industrial applications. This collaboration aims to enhance CETY’s supply chain and advance ORC technology.
CETY has also partnered with Qymers Canada Inc. through a Memorandum of Understanding that includes a $500,000 order for Clean Cycle units to support geothermal technology development. This partnership will commence with a pilot project in British Columbia, focusing on sustainable power sources with zero carbon emissions. However, CETY expects lower near-term revenues from natural gas activities due to declining prices and reduced demand, leading to a deferral of the Shenzhen Gas joint venture. Additionally, CETY is addressing tariffs affecting its heat-to-power products by exploring international manufacturing partnerships.
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