COSTA MESA, Calif. (GLOBE NEWSWIRE) — Clean Energy Technologies, Inc. (OTCQB: CETY), a clean energy company focusing on products and solutions in the energy efficiency and environmental sustainability market, announced it has raised $650,000 from the sale of a convertible promissory note, maturing June 21, 2022, with a fixed conversion fix price of $0.06 per share, and interest of 2% interest per year.

CETY expects to utilize a portion of the funds to continue making balance sheet improvements and the remainder to support the expansion of its portfolio of biomass solutions, waste heat recovery products, and engineering design services which is expected to continue to improve sales next year. CETY begins 2022 with several projects and opportunities on the horizon and is building a foundation for rapid expected growth in 2022.

Chief Executive Officer of CETY Kam Mahdi said, “We are grateful for the trust our new investors have in CETY. This investment demonstrates our ability to access capital on reasonable terms which is a critical aspect of our growth strategy. This additional capital will foster our expansion into biomass, heat recovery solutions, and engineering services, which I believe will result in positive results in 2022. The pricing of this investment demonstrates our believe that we are undervalued at current market prices and our new investors’ faith in our aggressive plans for growth and profitability in 2022. I look forward to providing shareholders with updates and further progress in the New Year”.