CLEAN ENERGY TECHNOLOGIES INC (CETY)

Introduction

Clean Energy Technologies Inc. (NASDAQ: CETY) designs, builds, and markets renewable and energy-efficient products and solutions. The company offers zero-emission heat recovery, combined heat-to-power, and waste-to-energy systems, alongside engineering, consulting, and project management services. Its technologies utilize heat and biomass to generate electricity while aiming to minimize emissions and costs.

Corporate Structure

Headquarters and Workforce

• Address: 1340 Reynolds Ave #120, Irvine, CA 92614, USA
• Employee Count: 11–50
• Founded: September 2015

Leadership Team

• Kam Mahdi, Chief Executive Officer (since September 2015)
  – Co-founder; led the acquisition of General Electric Heat Recovery Solutions.
  – B.S. in Electrical Engineering, California State University, Northridge

• Calvin Pang, Chief Financial Officer (since March 2020; Director since February 2018)
  – Managing Director at Megawell Capital (2015–present); former UBS banker.
  – B.S. in Business and Finance, Olin School of Business, Washington University in St. Louis

• Lance Woolley, Director of Operations (since 2011)
  – Experience in gas turbines, fuel cells, and waste heat recovery.
  – M.S. in Mechanical Engineering, Brigham Young University; MBA, Indiana University

• Alex Skorokhodov, Director of Engineering (since October 2022)
  – Former CEO of Enex LLC; inventor of HTAP technology.
  – M. Eng. in Automated Control Systems, Moscow Aviation University; Executive MBA, Antwerp University

Recent Developments and News

• April 2025: Signed a Memorandum of Understanding with Qymera Canada and secured a $500,000 order to deploy monobore geothermal technology for baseload power.
• May 22, 2025: Filed Form 8-K reporting items 1.01, 2.03, 3.02, and 9.01.
• May 20, 2025: Filed Quarterly Report on Form 10-Q for the quarter ended March 31, 2025.
• Partnered with Exergy to promote Organic Rankine Cycle (ORC) heat recovery solutions across the Americas.
• Congressional support: 12 U.S. Representatives urged Treasury to extend federal clean energy tax credits to all waste heat-to-power projects.

Financial and Strategic Analysis

Stock and Trading Data (as of May 27, 2025)

Metric	Value
Price	$0.2938
Daily Change	−25.81%
Volume	1,797,147
52-Week Range	$0.2739 – $1.5400
Market Cap (intraday)	$17.23 M
Price/Sales (ttm)	10.42
Price/Book (mrq)	6.38

Income and Balance-Sheet Highlights (TTM)

• Revenue: $1.7 M
• Net Loss: $3.33 M
• EPS: −$0.07
• Total Cash: $272.7 K
• Total Debt/Equity: 165.9%
• Levered Free Cash Flow: −$1.88 M

Strategic Initiatives

• Expansion into Asian markets through natural gas trading in China.
• Focus on heat-to-power and waste-to-energy solutions for small to mid-sized industrial and municipal projects.
• Partnerships aimed at accelerating technology adoption.

Market Position and Industry Context

Clean Energy Technologies operates in the renewable energy power-generation sector, focusing on heat recovery and waste-to-energy systems for projects in North America, Europe, and Asia. The U.S. clean energy market continues to diversify across solar, wind, geothermal, and bioenergy. CETY’s offerings in heat-to-power and combined heat-and-power systems distinguish it from utility-scale renewable energy developers and equipment manufacturers.

tl;dr

• Form 8-K filed May 22, 2025; Form 10-Q filed May 20, 2025 (period ended March 31, 2025).
• April 2025: $500,000 order and MOU with Qymera Canada for monobore geothermal technology.
• Partnership with Exergy to expand ORC heat recovery in the Americas.
• Congressional letter seeks inclusion of all waste heat-to-power projects in federal clean energy tax credits.
• Company aims to complete delayed 10-Q filing within 15 days and leverage joint projects to drive growth in North America and Asia.