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Clean Energy Technologies, Inc. Affiliate Vermont Renewable Gas Secures $1M USDA REAP Grant to Advance Biomass Solutions and Waste-to-Energy Technologies

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Clean Energy Technologies, Inc. (NASDAQ: CETY) announced that its affiliate, Vermont Renewable Gas, (VRG), has been awarded a $1 million USDA REAP Grant for the completion of a 2.2-megawatt renewable energy facility in Lyndon, Vermont. The project, centered around CETY's HTAP Biomass Reactor technology, will convert waste biomass into renewable fuel gas and BioChar fertilizer.

The VRG – Lyndon facility is expected to deliver over 18,000 MWh of renewable electricity and 1,500 tons of BioChar annually, with full commissioning anticipated within 12 months. This grant is part of a $1.05 billion USDA initiative funded through the Inflation Reduction Act, aimed at spurring economic development and rural prosperity.

CETY CEO Kam Mahdi expressed delight at the USDA's decision, viewing it as a sign of continued commitment to the project. The company sees this as an opportunity to expand its clean energy solutions across multiple industries globally, while also growing its heat recovery business horizontally.

Clean Energy Technologies, Inc. (NASDAQ: CETY) ha annunciato che la sua affiliata, Vermont Renewable Gas (VRG), è stata premiata con un finanziamento USDA REAP di 1 milione di dollari per il completamento di un impianto di energia rinnovabile da 2,2 megawatt a Lyndon, Vermont. Il progetto, incentrato sulla tecnologia HTAP Biomass Reactor di CETY, convertirà i residui di biomassa in gas combustibile rinnovabile e fertilizzante BioChar.

Si prevede che l'impianto VRG – Lyndon fornisca oltre 18.000 MWh di elettricità rinnovabile e 1.500 tonnellate di BioChar all'anno, con una messa in servizio completa prevista entro 12 mesi. Questo finanziamento fa parte di un'iniziativa USDA da 1,05 miliardi di dollari finanziata attraverso l'Inflation Reduction Act, mirata a stimolare lo sviluppo economico e la prosperità rurale.

Il CEO di CET, Kam Mahdi, ha espresso soddisfazione per la decisione dell'USDA, considerandola un segno di impegno continuo per il progetto. L'azienda vede questa come un'opportunità per espandere le sue soluzioni di energia pulita in più settori a livello globale, mentre cresce anche verticalmente nel settore del recupero del calore.

Clean Energy Technologies, Inc. (NASDAQ: CETY) anunció que su filial, Vermont Renewable Gas (VRG), ha sido galardonada con una subvención de 1 millón de dólares del USDA REAP para la finalización de una instalación de energía renovable de 2.2 megavatios en Lyndon, Vermont. El proyecto, centrado en la tecnología HTAP Biomass Reactor de CETY, convertirá residuos de biomasa en gas combustible renovable y fertilizante BioChar.

Se espera que la instalación VRG - Lyndon entregue más de 18,000 MWh de electricidad renovable y 1,500 toneladas de BioChar anualmente, con la plena puesta en marcha prevista en un plazo de 12 meses. Esta subvención es parte de una iniciativa del USDA de 1.05 mil millones de dólares financiada a través de la Ley de Reducción de la Inflación, destinada a impulsar el desarrollo económico y la prosperidad rural.

El CEO de CET, Kam Mahdi, expresó su deleite ante la decisión del USDA, viéndola como una señal del compromiso continuo con el proyecto. La empresa considera esto como una oportunidad para expandir sus soluciones de energía limpia en múltiples industrias a nivel global, mientras también crece horizontalmente en su negocio de recuperación de calor.

청정 에너지 기술 주식회사 (NASDAQ: CETY)는 자회사인 버몬트 재생가스 (VRG)가 버몬트 리린돈에 2.2 메가와트 재생 에너지 시설 완공을 위해 100만 달러 USDA REAP 보조금을 수상했다고 발표했습니다. 이 프로젝트는 CETY의 HTAP 바이오매스 반응기 기술을 중심으로 하여, 폐기물 바이오매스를 재생 연료가스와 바이오차 비료로 전환할 것입니다.

VRG - 리린돈 시설은 연간 18,000 MWh의 재생 전력과 1,500톤의 바이오차를 제공할 것으로 예상되며, 완전 가동은 12개월 이내에 이루어질 것으로 예상됩니다. 이 보조금은 인플레이션 감축법을 통해 자금 지원되는 10억 5천만 달러 규모의 USDA 이니셔티브의 일환입니다. 이는 경제 개발과 농촌 번영을 촉진하기 위한 것입니다.

CETY의 CEO인 카마흐 마흐디는 USDA의 결정을 기쁘게 생각하며, 이를 프로젝트에 대한 지속적인 헌신의 표시로 보고 있습니다. 회사는 이를 글로벌 여러 산업에서 청정 에너지 솔루션을 확장하고, 수평적으로 열 회수 사업을 확장할 기회로 보고 있습니다.

Clean Energy Technologies, Inc. (NASDAQ: CETY) a annoncé que sa filiale, Vermont Renewable Gas (VRG), a reçu un subside USDA REAP de 1 million de dollars pour l'achèvement d'une installation d'énergie renouvelable de 2,2 mégawatts à Lyndon, Vermont. Le projet, centré sur la technologie HTAP Biomass Reactor de CETY, convertira les déchets de biomasse en gaz combustible renouvelable et en engrais BioChar.

L'installation VRG – Lyndon devrait fournir plus de 18 000 MWh d'électricité renouvelable et 1 500 tonnes de BioChar par an, avec une mise en service complète prévue dans un délai de 12 mois. Ce subside fait partie d'une initiative USDA d'un montant de 1,05 milliard de dollars financiée par la Loi de réduction de l'inflation, visant à stimuler le développement économique et la prospérité rurale.

Le PDG de CET, Kam Mahdi, a exprimé sa satisfaction quant à la décision de l'USDA, la considérant comme un signe d'engagement continu envers le projet. L'entreprise voit cela comme une occasion d'étendre ses solutions d'énergie propre dans plusieurs industries à l'échelle mondiale tout en développant également son activité de récupération de chaleur de manière horizontale.

Clean Energy Technologies, Inc. (NASDAQ: CETY) hat angekündigt, dass ihre Tochtergesellschaft Vermont Renewable Gas (VRG) einen USDA REAP-Zuschuss in Höhe von 1 Million Dollar für den Abschluss einer 2,2 Megawatt großen Erneuerbare Energien-Anlage in Lyndon, Vermont, erhalten hat. Das Projekt, das sich um die HTAP Biomass Reactor-Technologie von CETY dreht, wird Abfallbiomasse in erneuerbares Brenngas und BioChar-Dünger umwandeln.

Die VRG – Lyndon-Anlage soll über 18.000 MWh erneuerbarer Elektrizität und 1.500 Tonnen BioChar jährlich liefern, wobei die vollständige Inbetriebnahme innerhalb von 12 Monaten erwartet wird. Dieser Zuschuss ist Teil einer 1,05-Milliarden-Dollar-Initiative des USDA, die durch das Inflation Reduction Act finanziert wird und darauf abzielt, die wirtschaftliche Entwicklung und den ländlichen Wohlstand zu fördern.

Der CEO von CET, Kam Mahdi, äußerte seine Freude über die Entscheidung des USDA und sieht darin ein Zeichen für das anhaltende Engagement für das Projekt. Das Unternehmen sieht dies als Chance, seine Lösungen für saubere Energie in mehreren Branchen weltweit auszubauen und dabei auch sein Geschäft mit Wärmegewinnung horizontal zu erweitern.

Positive
  • Secured $1 million USDA REAP Grant for VRG – Lyndon project
  • Expected to generate 18,000 MWh of renewable electricity and 1,500 tons of BioChar annually
  • Potential for increased revenue and market share in the biomass renewable energy sector
  • Synergies with existing ORC business, increasing energy value by 15% for Biomass projects
  • Anticipated long-term predictable income streams with high IRR cash flows
Negative
  • None.

Insights

The $1 million USDA REAP grant awarded to Vermont Renewable Gas (VRG) is a significant development for Clean Energy Technologies, Inc. (CETY). This grant will support the completion of a 2.2-megawatt renewable energy facility in Lyndon, Vermont, which is expected to generate over 18,000 MWh of renewable electricity and 1,500 tons of BioChar annually.

The project's potential impact on CETY's financials is substantial:

  • It provides non-dilutive funding, reducing the company's capital needs.
  • The facility is projected to be fully commissioned within 12 months, potentially leading to near-term revenue growth.
  • CETY's vertical integration strategy, combining HTAP Biomass Reactor technology with existing ORC business, could increase energy value by 15% per project.
  • The success of this project could serve as a model for future developments, potentially leading to significant scaling of CETY's operations and market share in the renewable energy sector.

While specific financial projections are not provided, the emphasis on "high IRR cash flows" and "long term predictable income streams" suggests a positive outlook for CETY's future profitability and revenue stability. Investors should monitor the project's progress and any subsequent announcements regarding similar initiatives or contracts.

The USDA's selection of VRG for the REAP grant underscores the growing federal support for renewable energy projects, particularly those addressing rural development and climate change. This aligns with broader policy trends, including the Inflation Reduction Act's $1.05 billion initiative for rural energy development.

Key environmental impacts of the VRG - Lyndon project include:

  • Conversion of waste biomass into renewable fuel gas and BioChar fertilizer, addressing both energy production and agricultural needs.
  • Potential reduction in greenhouse gas emissions through the use of renewable electricity.
  • Utilization of agricultural, forestry, industrial and municipal solid waste, contributing to waste management solutions.

The project's alignment with USDA's goals of spurring economic development, catalyzing rural prosperity and addressing climate change positions CETY favorably in the evolving regulatory landscape. This could lead to increased opportunities for similar projects and potential policy support in the future, benefiting companies like CETY that are at the forefront of biomass and waste-to-energy technologies.

Irvine, CA., Oct. 07, 2024 (GLOBE NEWSWIRE) -- Clean Energy Technologies, Inc. (NASDAQ: CETY), announced today that Vermont Renewable Gas, LLC (VRG), an affiliate limited liability company has been selected by the United States Department of Agriculture (USDA) as one of its Rural Energy for America Program (REAP) Grant recipients. Administered by the USDA’s Rural Development Office, this current $1.05 billion initiative funded through the Inflation Reduction Act seeks to issue grants which spur economic development and catalyze rural prosperity by throughout the United States through six quarterly competitions. VRG was selected to receive $1 million towards completion of VRG’s Vermont Renewable Gas – Lyndon (VRG – Lyndon) 2.2-megawatt renewable energy facility in Lyndon, Vermont.

VRG was selected through a competitive process against other projects in each state. The project’s ability to generate renewable energy and environmental benefits to residents of Vermont’s Northeast Kingdom using commercially available technology were among several criteria items reviewed by USDA Rural Development. Regarding the most recently announced REAP Grant recipients, Deputy U.S. Secretary of Agriculture Xochitl Torres Small stated that “REAP loans and grants will lower energy costs for farmers and small businesses and help expand their operations, all while tackling climate change.” The USDA announcement emphasized the impact that these chosen projects will have in helping farmers and rural small businesses increase their income, grow their businesses, and address climate change while lowering energy costs for American families. VRG – Lyndon will likely be included in a future grant recipient announcement by USDA.

Centered around CETY’s HTAP Biomass Reactor technology, CETY will design, build, and operate the VRG – Lyndon facility. VRG will convert waste biomass from Northeastern Vermont’s working lands into renewable fuel gas and BioChar fertilizer. The renewable fuel gas generated will be converted into renewable electricity and heat. The plant is expected to deliver in excess of 18,000 MWh of renewable electricity and 1,500 tons of BioChar annually and be fully commissioned within 12 months.

CETY is focusing on HTAP applications for agricultural waste, forestry waste, industrial and municipal solid waste, and landfill waste. This builds on the current increase in state and federal 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.

In combination with other CETY technologies and solutions, these projects will advance the company’s mission to offer a more vertically integrated and scalable platform for clean energy solutions across multiple industries in most key markets globally.

CETY’s existing organic rankine cycle (ORC) business will also capitalize on each biomass project, with the opportunity to deliver Heat Recovery Solutions. Such synergies increase energy value by 15% for the Biomass project. CETY’s portfolio of biomass projects will in turn drive top line and bottom-line growth elsewhere in the company creating long term predictable income streams with high IRR cash flows.

More importantly, it provides a footprint for future projects utilizing HTAP Biomass Reactor technology in the rapidly growing biomass renewable energy sector. The HTAP Biomass Reactor is a unique and proprietary process that transforms organic waste by using ultra-high temperatures in an anaerobic environment to produce renewable electric power, BioChar fertilizer and high heating value fuel gas in addition to other commercially valuable chemicals.

Kam Mahdi, CEO of CETY, stated “CETY is delighted by the USDA’s decision to invest in VRG – Lyndon. The news of this REAP grant is a sign of USDA’s continued commitment to the VRG – Lyndon project, starting with a $300,000.00 Wood Innovations Grant through the Department’s U.S. Forest Service earlier this year. VRG’s combination of public and private commitments will propel VRG and CETY to achieve success in this highly profitable and growing industry. CETY values the impact that the federal Infrastructure Law and the IRA are presenting to VRG’s project. CETY looks forward to completing final permitting for the Lyndonville facility and commencing construction.

VRG will serve as a model for developing new projects that capture market share in this highly profitable and growing industry. By vertically integrating biomass into our business, we are also able to grow our heat recovery business horizontally. We hope that our future projects will be large by orders of magnitude and have a profound impact on the environment while bringing CETY new sources of income. Our new renewable biomass energy projects are expected to further expand our goal of becoming a complete solution for industrial and municipal scale projects in the strategic markets we are targeting.”

About Clean Energy Technologies, Inc. (CETY)

Headquartered in Irvine, California, Clean Energy Technologies, Inc. (CETY) is a rising leader in the zero-emission revolution by offering eco-friendly green energy solutions, clean energy fuels and alternative electric power for small and mid-sized projects in North America, Europe, and Asia. We deliver power from heat and biomass with zero emission and low cost. The Company's principal products are Waste Heat Recovery Solutions using our patented Clean CycleTM generator to create electricity. Waste to Energy Solutions convert waste products created in manufacturing, agriculture, wastewater treatment plants and other industries to electricity and BioChar. Engineering, Consulting and Project Management Solutions provide expertise and experience in developing clean energy projects for municipal and industrial customers and Engineering, Procurement and Construction (EPC) companies.

CETY's common stock is currently traded on the Nasdaq Capital Market under the symbol CETY. For more information, visit www.cetyinc.com.

Follow CETY on our social media channels: Twitter | LinkedIn | Facebook

This summary should be read in conjunction with the Company’s quarterly report on Form 10-Q for the quarterly period ended March 31, 2024 and other periodic filings made pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended, which contain, among other matters, risk factors and financial footnotes as well as a discussions of our business, operations and financial matters located on the website of the Securities and Exchange Commission at www.sec.gov.

Safe Harbor Statement

This news release may include forward-looking statements within the meaning of section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities and Exchange Act of 1934, as amended, with respect to achieving corporate objectives, developing additional project interests, the Company's analysis of opportunities in the acquisition and development of various project interests and certain other matters. These statements are made under the "Safe Harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the Company's current beliefs, expectations and assumptions regarding the future of CETY’s business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Company's control. Therefore, you should not rely on any of these forward-looking statements. Forward-looking statements can be identified by words such as: "anticipate," "plan," "expect," "estimate," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. Any forward-looking statement made by the Company in this press release is based only on information currently available to us and speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Clean Energy Technologies, Inc.
Investor and Investment Media inquiries:
949-273-4990
ir@cetyinc.com
Source: Clean Energy Technologies, Inc.


FAQ

What is the value of the USDA REAP Grant awarded to Vermont Renewable Gas for the CETY project?

Vermont Renewable Gas, an affiliate of Clean Energy Technologies, Inc. (NASDAQ: CETY), was awarded a $1 million USDA REAP Grant for the completion of the VRG – Lyndon 2.2-megawatt renewable energy facility in Vermont.

What is the expected annual output of the VRG – Lyndon facility for CETY?

The VRG – Lyndon facility is expected to deliver over 18,000 MWh of renewable electricity and 1,500 tons of BioChar fertilizer annually.

How long is the commissioning process expected to take for CETY's VRG – Lyndon project?

The VRG – Lyndon facility is expected to be fully commissioned within 12 months.

What technology is CETY using in the VRG – Lyndon project?

The VRG – Lyndon project is centered around CETY's HTAP Biomass Reactor technology, which converts waste biomass into renewable fuel gas and BioChar fertilizer.

Clean Energy Technologies, Inc.

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