Clean Energy Technologies Teams Up for Geothermal Advancements
Clean Energy Technologies, Inc. (Nasdaq: CETY), known for its innovative approach to clean energy and waste-heat recovery, has embarked on an exciting collaboration with Qymera Global Energy Ltd. This strategic partnership is set to revolutionize the geothermal power sector with the introduction of the DeepFyre™ geothermal power system, which promises scalable, cost-effective, and zero-emission baseload power aimed primarily at island nations and rapidly developing markets.
Synergizing Innovative Technologies
The collaboration merges CETY's proprietary heat-to-power solutions and Organic Rankine Cycle (ORC) technology with Qymera's innovative DeepFyre™ monobore geothermal platform. This next-generation architecture utilizes advanced resin-based casings designed to enhance heat transfer properties and simplify drilling, thereby drastically reducing project costs associated with energy deployment. The two companies aim to offer modular power units that scale from 5 MW to 50 MW, making geothermal power more accessible and economically viable.
Statements from Leadership
Kam Mahdi, CEO of CETY, expressed enthusiasm for the partnership, stating, "This collaboration opens new avenues for harnessing geothermal energy. By integrating our cutting-edge conversion technologies with Qymera's innovative well architecture, we can provide sustainable, reliable baseload power in regions that prioritize energy resilience." The objective of this partnership is to reduce the Levelized Cost of Electricity (LCOE) below $0.08 per kWh and to accelerate the deployment of geothermal solutions in promising regions.
Insights from Qymera's CEO
Darrell Dous, CEO of Qymera Global Energy, emphasized the importance of their integrated solution, which combines efficient subsurface design with effective surface power generation. He highlighted that DeepFyre’s monobore wells not only make drilling easier but also more cost-effective, allowing faster deployment than conventional systems. The combination of CETY's ORC technology alongside Qymera’s well design positions them to deliver geothermal energy solutions more competitively than previously possible.
Market Potential and Future Growth
The global geothermal market represents an impressive growth opportunity, currently valued at around $8.75 billion in 2024, with projections to exceed $12 billion by 2033, reflecting a compound annual growth rate (CAGR) of 4.2%. Despite its vast potential, geothermal energy currently accounts for less than 0.5% of global electricity generation. For example, the Caribbean has approximately 55–70 GW of untapped geothermal capacity, yet has only utilized about 15 MW so far.
Aiming for Sustainable Pilot Projects
The CETY-Qymera partnership directly addresses this disparity, starting with pilot projects in Caribbean islands and Central America, and plans for broader installations across Southeast Asia and Africa. Each deployment will illustrate how DeepFyre™ can minimize drilling expenses by up to 30%, significantly reduce project development timelines, and deliver reliable, renewable baseload energy that caters to conventional grids and modern infrastructures alike, including those used for artificial intelligence and sustainable data facilities.
About Clean Energy Technologies, Inc. (CETY)
Based in Irvine, California, Clean Energy Technologies, Inc. emerges as a pioneering force in the zero-emission energy movement, providing eco-friendly energy solutions and alternative electric power options for small to mid-sized projects across North America, Europe, and Asia. Their core products include Waste Heat Recovery solutions using their patented Clean Cycle generator for electricity generation, Waste to Energy solutions for converting manufacturing byproducts into power, and comprehensive project management services tailored for clean energy projects.
Contact Information
For investor inquiries or media questions, please contact Clean Energy Technologies, Inc. at:
Phone: 949-273-4990
Email: ir@cetyinc.com
Frequently Asked Questions
What is the purpose of the collaboration between CETY and Qymera?
The collaboration aims to advance and commercialize the DeepFyre™ geothermal power system, focusing on providing cost-efficient, zero-emission baseload power for various markets.
How do CETY and Qymera's technologies work together?
CETY's ORC and heat-to-power systems are integrated with Qymera’s innovative well design to enhance efficiency, reduce costs, and simplify deployment of geothermal energy solutions.
What are the projected benefits of the DeepFyre™ system?
The system is expected to reduce drilling costs by up to 30% and shorten project timelines, making geothermal energy more accessible and reliable.
What is the current state of the global geothermal market?
The geothermal market is projected to grow from $8.75 billion in 2024 to over $12 billion by 2033, reflecting significant untapped potential, especially in regions like the Caribbean.
Where are the initial pilot projects expected to take place?
The initial pilot projects will be in the Caribbean and Central America, with plans to expand into Southeast Asia and Africa.
