Clean Energy Technologies (CETY) has announced the signing of a Non-Binding Offer (NBO) with an undisclosed European solar and wind development company.
The deal, estimated at approximately $85m, is anticipated to enhance CETY’s operations across Europe and establish a strong position in the region’s growing renewable energy landscape, supported by favourable government policies.
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The initial $4.4m equity investment secured by CETY is expected to contribute to the funds required for the NBO transactions.
CETY’s expansion into Europe is seen as a strategic move to tap into the continent’s robust and stable renewable energy policies, which are conducive to long-term growth.
The company’s entry into the European market is poised to leverage the scalability and profitability of solar and wind power generation.
Headquartered in Irvine, California, CETY offers eco-friendly energy solutions, clean energy fuels, and alternative electric power for small to mid-sized projects across North America, Europe, and Asia.
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By GlobalDataThe company recently entered a Memorandum of Understanding (MOU) with Qymers Canada in March, securing an initial $500,000 order for two Clean Cycle units.
These units are intended to support Qymera’s monobore geothermal technology, offering a dedicated power source for mines, manufacturing facilities, and data centres, aiming for zero carbon emissions.
The partnership between CETY and Qymers Canada involves a pilot deployment of CETY’s magnetic bearing heat-to-power generator in Qymera’s geothermal projects.
CETY will provide technical and operational support, contributing its expertise in optimising heat-to-power conversion.
Qymers Canada will offer operational data and feedback, with both companies exploring joint development opportunities for geothermal and heat-to-power solutions.
