This landfill site order was secured from our channel partner Corycos Group and scheduled to be commissioned in the 2nd quarter of 2020
Clean Energy Technologies, Inc. (OTCQB: CETY), a clean energy company focusing on products in the energy efficiency and environmental sustainability markets, announced today that it finalized a $1.1 million landfill heat recovery order scheduled to be delivered in the fourth quarter of 2019. This landfill site order was secured from our channel partner Corycos Group and scheduled to be commissioned in the 2nd quarter of 2020. Corycos Group estimates the potential electrical generation could be as high as 1.8 Giga Watt hour or approximately $250,000 dollars in additional annual revenue generation for the site’s owner.
“Our strategy of joint venture relationships in select regions is starting to play out,” said Kam Mahdi, Chief Executive Officer of CETY. “We initially signed our joint venture agreement with Turkey based Corycos in December of 2018 and have seen results in less than a year. Their sales pipeline is expanding and with new technology and plans they expect additional growth.”
Mr. Mahdi continued, “Our global strategy for regional implementation showcases our advanced technology originally developed by General Electric. We are planning to deliver many more units, together with long term power purchase agreements to the landfill owners and operators for similar applications within the region to provide them with additional revenues and higher returns on their investment.”
Ahmet Yigit Kazanc and Hakan Dogan, Co-Founders of Corycos Group added: “CETY’s ORC technology, with its superior magnetic bearing turbine, is a critical component in our strategy for our biogas sector to increase incremental revenue and reduce greenhouse gas. Waste heat to power represents the best cost/benefit opportunity for us to expand renewable generation capacity and achieve sustainability. This $1.1 million dual unit ORC installation on four biogas engines will make an excellent showcase for Corycos’ existing network of customers in Turkey, Russia, Africa, Middle East, Central and Southern Asia.”
Source: Company Press Release