CETY Partners for Sustainable Battery Storage Innovations
Clean Energy Technologies, Inc. (NASDAQ: CETY), a pioneering force in advanced clean energy solutions, is taking significant strides in enhancing energy efficiency and sustainability. The company has formed a strategic partnership with Lease Advisory Group (LAG) to act as the Engineering, Procurement, and Construction (EPC) contractor for several Battery Energy Storage System (BESS) projects across New York State.
Significance of the Partnership
This partnership marks an essential chapter in CETY's journey towards revolutionizing clean energy infrastructure. The projects are set to each feature a robust energy storage capacity of 5MW / 20MWh, specifically designed to complement rooftop solar installations and support electric vehicle charging stations. Not only do these projects signify a commitment to renewable energy, they also aim to enhance grid reliability and resilience, vital for a sustainable energy future.
Revenue Generation and Grid Services
The newly minted systems will partake in generating revenue through New York’s Value of Distributed Energy Resources (VDER) program, alongside ancillary services to support the electric grid. These initiatives align perfectly with the state’s objectives of advancing decarbonization and reinforcing its power infrastructure.
Comprehensive EPC Services Provided
Under the terms of the Letter of Intent with LAG, CETY will oversee a comprehensive suite of EPC services including:
- In-depth planning and both preliminary and detailed engineering designs.
- Efficient procurement of essential equipment, materials, and services.
- Managing construction, installation, as well as quality control, testing, and commissioning processes.
- Ensuring compliance with regulatory requirements, including domestic content and prevailing wages.
Vision for Clean Energy Transition
Kam Mahdi, CEO of CETY, noted the importance of this project by stating, “This award demonstrates CETY’s growing role as a trusted EPC partner for large-scale energy storage projects. Battery storage is critical to balancing renewable generation with grid demand, and these projects should place us at the center of New York’s clean energy transition.”
Expanding the Clean Energy Portfolio
This significant award continues the expansion of CETY’s portfolio in the clean energy sector. The company is dedicated to providing innovative technologies that not only promote renewable energy generation but also ensure grid stability and electrification infrastructure that can cater to future demands.
About Clean Energy Technologies, Inc. (CETY)
Located in Irvine, California, Clean Energy Technologies, Inc. (CETY) is a key player in the zero-emission energy revolution. They offer advanced green energy technologies designed for small and mid-sized projects across North America, Europe, and Asia. Some of their game-changing products include the Waste Heat Recovery Solutions utilizing their patented Clean Cycle™ generator, which effectively converts heat to electricity with zero emissions, along with Waste to Energy Solutions that transform waste materials into valuable energy resources.
Keeping Investors Informed
CETY emphasizes transparency and commitment, with active engagement in investor relations to share progress and insights. The company's stock is listed on the Nasdaq Capital Market under the ticker “CETY,” providing robust opportunities for investors interested in sustainable energy initiatives.
Frequently Asked Questions
What projects is CETY involved in?
CETY is engaging in multiple Battery Energy Storage projects across New York State, focusing on integrating energy storage with solar and EV charging systems.
What does the partnership with LAG signify for CETY?
The partnership with LAG signifies CETY's growing capabilities as a trusted partner in large-scale energy storage, underscoring its commitment to clean energy solutions.
How does the VDER program benefit CETY?
The VDER program allows CETY’s projects to generate revenue while contributing to the reliability and decarbonization of New York's power grid.
What kind of services will CETY provide under the LOI?
CETY will provide a full suite of EPC services, including planning, procurement, construction, and compliance oversight to ensure successful project execution.
Where is CETY based and what do they specialize in?
CETY is headquartered in Irvine, California, specializing in clean energy solutions, including energy recovery, waste-to-energy technologies, and sustainable project management services.
