Clean Energy Technologies Inc - CETY STOCK NEWS

Clean Energy Technologies, Inc. (CETY) reported significant growth in its 2022 Year-End financial results. The total revenue reached $2.66 million, marking a 104% increase over 2021. Gross profits also rose by 92% to $1.17 million, while the net profit was $147,395, down from $297,551 in the previous year, attributed to one-time expenses related to its Nasdaq up-listing. Notably, the company recognized a substantial gain on debt settlement of $2.56 million in 2022, compared to $868,502 in 2021. As of early 2023, CETY's equity position improved significantly, bolstered by a public offering grossing $3.9 million and the conversion of a convertible note. The company aims for continued profitability through operational scaling and capital access.

Clean Energy Technologies, Inc. (CETY) recently announced a significant milestone: its subsidiary, Jiangsu Huanya Jieneng New Energy Co., Ltd., received certification to access the China Natural Gas Pipeline Network Group Co. (NGPNG). This access enables CETY to utilize the extensive natural gas infrastructure across China, allowing for the importation and sale of natural gas through the NGPNG network.

This expansion significantly enhances CETY's distribution capabilities, securing a supply of up to 40 million cubic meters of natural gas for the remainder of 2023. CEO Kam Mahdi emphasized that this certification represents national recognition and broadens their user base, potentially increasing the adoption of CETY's energy efficiency solutions.

Clean Energy Technologies, Inc. (CETY) reported securing and selling 6.65 million cubic meters of natural gas (NG) in Q1 2023, generating approximately USD 2.5 million in sales. The company sees an improved NG market in China, with a Manufacturing PMI rising to 52.6 in February 2023. China's government aims for a GDP growth target of about 5% for 2023, fostering positive demand for NG. CETY is shifting from low-volume, higher-margin trading to stable higher-volume trading to mitigate market risks. CEO Kam Mahdi noted that NG operations in China provide cross-selling opportunities for CETY's products, anticipating increased contributions from this sector.

Clean Energy Technologies, Inc. (CETY) has announced a significant collaboration with RPG Energy Group to develop onsite applications aimed at generating electricity and hydrogen while promoting decarbonization. This partnership targets Fortune 500 clients across Europe, the Middle East, Asia, and the U.S., with initial projects focused in Germany, the Czech Republic, Poland, the UK, and select U.S. states. This initiative leverages CETY's innovative solutions, including microgrid integration and waste-heat recovery technologies, to enhance energy efficiency and reduce costs amidst rising utility charges.

Clean Energy Technologies (CETY) recently closed a public offering of 975,000 shares at $4.00 per share, totaling $3.9 million in gross proceeds. This offering, completed on March 27, 2023, allows underwriters to purchase an additional 146,250 shares within 45 days. CETY's shares began trading on NASDAQ under the symbol "CETY" on March 23, 2023. The CEO, Kam Mahdi, expressed optimism about the uplisting to Nasdaq and its potential to enhance market visibility.

Clean Energy Technologies, Inc. (CETY) announced a public offering of 975,000 shares of common stock priced at $4.00 per share, totaling gross proceeds of $3.9 million. The offering, conducted on a firm commitment basis, includes a 45-day option for underwriters to purchase an additional 146,250 shares. The shares will begin trading on Nasdaq under the ticker CETY. The offering is expected to close around March 27, 2023, pending customary closing conditions. This capital raise aims to support the company's initiatives in clean energy solutions across North America, Europe, and Asia.

Clean Energy Technologies (CETY) has announced a 1-for-40 reverse stock split to fulfill NASDAQ listing requirements, reducing outstanding shares from approximately 1.49 billion to around 37.17 million. The company aims for enhanced visibility in capital markets following the uplisting. This change will adjust the stock price accordingly, with the trading symbol temporarily changing to CETYD on the OTCQB. After a 20-day period, if criteria are met, the symbol will revert to CETY. However, there is no guarantee that all requirements will be fulfilled for NASDAQ approval.

Clean Energy Technologies (CETY) has entered an agreement with Synergy Bioproducts Corporation to construct a biomass energy processing facility in Vermont. The facility will use CETY's high temperature ablative fast pyrolysis (HTAP) technology to convert forest biomass waste into up to 14,600 MWh of renewable electricity and 1,500 tons of BioChar annually. The project, set to be operational in 12 months, aims to capitalize on the growing clean energy sector, supported by the Inflation Reduction Act.

Clean Energy Technologies, Inc. (CETY) has announced plans to uplist its shares to NASDAQ, aiming for increased visibility and access to capital. CEO Kam Mahdi emphasized that this strategic move is crucial for growth opportunities. Uplisting requires a concurrent equity financing to strengthen the balance sheet and a reverse stock split to meet NASDAQ's minimum trading price. The company has engaged Craft Capital as the lead underwriter for a public offering, pending regulatory approvals. Success depends on satisfying NASDAQ's listing requirements, with no guarantees of approval.