Clean Energy Technologies, Inc. CEO joins California-Latvia economic development and cross-sector cooperation delegation; addresses business forum

Irvine, CA., Aug. 06, 2024 (GLOBE NEWSWIRE) -- Clean Energy Technologies, Inc. (“CETY” or the “Company”) (Nasdaq: CETY) CEO Kam Mahdi joined a California delegation to Riga, Latvia, which was led by Treasurer Fiona Ma, Senator Josh Newman, and former Senator Robert Hertzberg. The purpose was to meet with Latvian government and business leaders to discuss business investment, economic and technological collaboration, and development opportunities in key Baltic growth sectors. With nearly 12,000, California is home to more Latvian Americans than any other US state.

Latvia has become a major logistics hub for economic and technological expansion that is projected to have a broadly transformative impact for growth across Europe, as the demands and opportunities of globalization make the strategically situated country a natural hub for such advancement.

The delegation visit, included a focus on major infrastructure projects such as the new Riga airport and new rail system to connect the Baltic region with other Europe destinations. Delegation meetings were headed by Latvia Prime Minister Evika Silina, EU Commission Executive Vice President and former Latvia Prime Minister Valdis Dombrovskis, Minister of Foreign Affairs Baiba Braže, Minister of Economics Viktors Valainis, Interim Director General at Investment and Development Agency of Latvia Raivis Bremsmits, Deputy State Secretary and Ministry of Transport Kristine Malnaca, Vice Chairperson of RB Rail AS Arnis Kakulis, Honorary Latvian Consul General Dr. Juris Bunkis, Managing Director of Riga Investment and Tourism Agency Fredis Bikovs, and other members of the ministries’ leadership teams.

The visit began with an official meeting and opening comments from Latvian Prime Minister Evika Siliņa, former Prime Minister of Latvia and current EU Executive Vice President Valdis Dombrovskis, California Treasurer Fiona Ma, US Ambassador to Latvia Christopher Robinson, and California State Senator Josh Newman. All hailed the critical importance of the Latvia-California connection in areas that would create synergies and leverage opportunity for cooperation between enterprises from California, currently a in the top five of world economies and leading ecosystem for technology innovation and funding, and Latvia, a focal point of new technology, clean and alternative energy, and smart transportation, with innovations that are advancing progress across the entire Baltic region.

CETY CEO Kam Mahdi spoke as part of the Ministry of Foreign Affairs Forum on Sustainable Energy Technologies and Innovations, which included Senator Robert Hertzberg, Ilmars Osmanis, Founder and CEO of Lighspace, Liene Briede, Vice Rector for Innovations at Riga Technical University, and Andris Berzins, Managing Partner at Change Ventures.

Mr. Mahdi presented his publicly traded company’s strategy of growth as a clean energy solutions provider in the Baltic region and other key venues in Europe, North America, and Asia markets. CETY’s successful 6-year partnership in Latvia with Eko Nams, a Latvian log home builder that uses CETY’s equipment to turn waste wood chips from their manufacturing process into clean energy, was launched in 2018. This CETY process, which uses two boilers and two of CETY’s proprietary organic Rankine cycle heat recovery systems, saved Eko Nams transportation cost and time of hauling waste wood off-site and provided the company a clean, immediate source of energy, providing an example of what is possible.

“With this experience, I can say that we have found working in Latvia to offer an excellent opportunity for growth and partnerships,” said Mahdi. “The available tech talent, innovation mindset, and support of government for finding solutions to energy and other challenges have all been major benefits.”

Watch the Eko Nams video here: https://www.youtube.com/watch?v=RE5uhLVWLNw

Visiting Latvia for the first time after having forged strong connections with the Latvian community in California, Treasurer Fiona Ma applauded the common themes Latvia shares with California and looked forward to the upcoming California visit of the Latvian Presidential delegation for continued progress.

“Latvia is a small but mighty country of dreamers and doers like California. We had great meetings with smart and competent leaders and look forward to welcoming the delegation to California in September to spur economic development and further bilateral relations.”

About Clean Energy Technologies, Inc. (CETY)

Headquartered in Irvine, California, Clean Energy Technologies, Inc. (CETY) is a rising leader in the zero-emission revolution by offering eco-friendly green energy solutions, clean energy fuels and alternative electric power for small and mid-sized projects in North America, Europe, and Asia. We deliver power from heat and biomass with zero emission and low cost. The Company's principal products are Waste Heat Recovery Solutions using our patented Clean CycleTM generator to create electricity. Waste to Energy Solutions convert waste products created in manufacturing, agriculture, wastewater treatment plants and other industries to electricity and BioChar. Engineering, Consulting and Project Management Solutions provide expertise and experience in developing clean energy projects for municipal and industrial customers and Engineering, Procurement and Construction (EPC) companies.

CETY's common stock is currently traded on the Nasdaq Capital Market under the symbol CETY. For more information, visit www.cetyinc.com.

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This summary should be read in conjunction with the Company’s quarterly report on Form 10-Q for the quarterly period ended March 31, 2024 and other periodic filings made pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended, which contain, among other matters, risk factors and financial footnotes as well as a discussions of our business, operations and financial matters located on the website of the Securities and Exchange Commission at www.sec.gov.

Safe Harbor Statement

This news release may include forward-looking statements within the meaning of section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities and Exchange Act of 1934, as amended, with respect to achieving corporate objectives, developing additional project interests, the Company's analysis of opportunities in the acquisition and development of various project interests and certain other matters. These statements are made under the "Safe Harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the Company's current beliefs, expectations and assumptions regarding the future of CETY’s business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Company's control. Therefore, you should not rely on any of these forward-looking statements. Forward-looking statements can be identified by words such as: "anticipate," "plan," "expect," "estimate," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. Any forward-looking statement made by the Company in this press release is based only on information currently available to us and speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Clean Energy Technologies, Inc.
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Source: Clean Energy Technologies, Inc.