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Clean Energy Technologies Inc (PK:CETY)

Business Focus: Heavy Electrical Equipment

Sector:  Industrials Industry:  Heavy Electrical Equipment
See Regulatory Filings on SEC
Company Contact
Address: 2990 Red Hill Ave
COSTA MESA CA 92626-7988
Tel: N/A
IR: See website
Key People
Juhani Taskinen
Chairman of the Board
Kambiz Mahdi
President, Chief Executive Officer, Secretary, Director
Calvin Pang
Acting Chief Financial Officer, Director
Business Overview
Clean Energy Technologies, Inc., formerly Probe Manufacturing, Inc., designs, builds and markets clean energy products focused on energy efficiency and environmentally sustainable technologies. The Company's principal product is the Clean Cycle generator, offered by its subsidiary Heat Recovery Solutions. The Heat Recovery Solutions system captures waste heat from various sources and turns it into electricity that users can use or sell back to the grid. The Company's engineering and manufacturing resources support its heat recovery solutions business, as well as continuing to support other clean energy companies with their technologies. Its core technology is a magnetic lev bearing generator, which requires no oil or lubricant and has no gear box. It serves various markets, including industrial, aerospace, military, instrumentation and medical. It offers services, such as engineering, supply chain management, manufacturing and program management.
Financial Overview
For the nine months ended 30 September 2020, CleanEnergy Technologies Inc revenues increased from $455K to$1.2M. Net loss decreased 53% to $1.1M. Revenues reflectClean Energy segment increase from $47K to $749K,Manufacturing and Engineering segment increase of 5% to$362K. Lower net loss reflects Interest and Financing feesdecrease of 13% to $907K (expense), Travel decrease of 60%to $68K (expense).