Clean Energy Technologies, which develops waste heat recycling and waste to energy systems, filed on Monday with the SEC to raise up to $35 million in an initial public offering. The company is currently listed on the OTCQB under the ticker "CETY"
Clean Energy Technologies’ offers an organic Rankine cycle (ORC) system containing its Clean Cycle generator, which allows for the capture of wasted heat energy to produce electricity. The patented technology used in the Clean Cycle generator was purchase from GE International, and the company has an exclusive license from Calnetix to use its magnetic turbine for heat waste recovery applications. To date, approximately 121 Clean Cycle generators have been deployed for use in biomass and waste to energy projects, diesel electric generators, turbine electric generators, and industrial electric production applications. Clean Energy Technologies has also developed a patented high temperature ablative pyrolysis biomass reactor, and has LNG trading operations in China.
The Costa Mesa, CA-based company was founded in 1995 and booked $2 million in revenue for the 12 months ended March 31, 2022. It plans to list on the Nasdaq under the symbol CETY. Craft Capital Management is the sole bookrunner on the deal
