Clean Energy Technologies, Inc.

What they do

CETY designs, produces and markets clean energy products and integrated solutions focused on energy efficiency and renewable energy, with the stated aim of helping commercial companies and municipalities reduce energy waste and emissions. Its four accounting segments are Clean Energy HRS & CETY Europe (waste heat recovery solutions converting thermal energy to zero emission electricity), CETY Renewables (waste-to-energy technologies and solutions), an Engineering and Manufacturing Business (design, manufacturing and project management), and CETY HK (the parent of its natural gas trading operations in China). The company has 24 full-time employees and a CETY Europe sales and service center in Silea, Italy with 1 full-time employee; CETY Capital is a financing arm holding a 49% interest in Vermont Renewable Gas LLC.

Revenue drivers

• Clean Energy HRS & CETY Europe — Waste heat recovery solutions that convert thermal energy to zero emission electricity; the company acquired the Heat Recovery Solutions assets from General Electric International in September 2015 and runs a sales and service center in Silea, Italy.
• CETY Renewables — Provides waste-to-energy technologies and solutions; the company's High Temperature Ablative Pyrolysis system is named as the technology intended for the Vermont biomass plant under Vermont Renewable Gas LLC, in which CETY Capital retains 49%.
• Engineering and Manufacturing Business — Provides customers with comprehensive design, manufacturing, and project management solutions, a legacy of the company's earlier electronics manufacturing services business.
• CETY HK — Parent company of the natural gas trading operations in China; established after Clean Energy Technologies (H.K.) Limited, a wholly owned subsidiary, acquired 100% of Leading Wave Limited, a liquid natural gas trading company in China. This segment was added after the first quarter of 2022, when the company had three reportable segments.

Recent performance

Annual revenue fell from $6.7M in 2023 to $2.4M in 2024 and $2.2M in 2025, while net loss widened to $6.8M in 2025 from $4.6M in 2024 and $5.6M in 2023. Operating cash flow was negative in every year shown, at -$7.9M in 2025 versus -$3.6M in 2024 and -$4.8M in 2023. Recent quarterly revenue was $773,554 for 2025-09-30, $709,857 for 2025-12-31, $783,705 for 2026-03-31, and $371,936 for 2026-06-30. At 2026-06-30 the company reported total assets of $13.9M, total liabilities of $7.9M, shareholders' equity of $6.0M, and cash and equivalents of only $19,735.

Strategy

Management describes the company as specializing in renewable energy and energy efficiency systems design, manufacturing and project implementation, with the goal of becoming a leading provider of renewable and energy efficiency products and solutions that help customers lower energy costs and generate incremental revenue by providing electricity, renewable natural gas and biochar to the grid. Segment reporting was expanded to four segments after the first quarter of 2022 to reflect new businesses in China. The company formed CETY Capital as a financing arm to fund captive renewable energy projects and holds 49% of Vermont Renewable Gas LLC, established to develop a biomass plant in Vermont using CETY's High Temperature Ablative Pyrolysis system. It also acquired 100% of Leading Wave Limited, a liquid natural gas trading company in China, and operates its European sales and service center in Silea, Italy.

Risks

• Going-concern liquidity — Cash and equivalents were just $19,735 at 2026-06-30 against total liabilities of $7.9M, and operating cash flow was -$7.9M in 2025, the fourth consecutive year of negative operating cash flow shown.
• Persistent losses and revenue decline — Net loss widened to $6.8M in 2025 from $4.6M in 2024, and annual revenue fell from $6.7M in 2023 to $2.2M in 2025, with the 2026-06-30 quarter at $371,936 versus $783,705 in the prior quarter.
• Listing-rule failure — The company reported a delisting notice or listing-rule failure on 2026-05-29, and its common stock trades on Nasdaq under CETY.
• Dilution from repeated financings — The company reported unregistered sales of equity alongside material agreements and direct financial obligations on 2026-07-08, 2026-07-31, 2026-08-14 and 2026-09-14, and its prior financing history includes convertible notes issued to Mast Hill Fund, L.P. and 1800 Diagonal Lending, LLC.

Outlook

The 10-Q MD&A excerpt provided consists largely of forward-looking statement language and a description of the company and its segments, and does not contain specific management guidance for future periods. Management states it undertakes no obligation to revise or update publicly any forward-looking statements for any reason. The company describes operating performance as dependent on its ability to manage changes in input costs for raw materials, labor, and overhead, as well as on manufacturing efficiencies.