Clean Energy Technologies, Inc. (CETY) has achieved a landmark milestone with the announcement of a $10 million Battery Energy Storage System (BESS) project in New York State. This significant achievement has not only driven CETY’s stock up by 120.56%, reaching $2.36 in mid-day trading, but also highlights the company’s commitment to advancing the future of clean and reliable energy solutions.
Overview of the $10 Million BESS Project
The New York-based project involves the installation of a standalone 5MW/20MWh energy storage system. This marks the largest storage project ever undertaken by CETY and represents a stride toward modernizing the energy grid with sustainable technologies. Strategically designed, the system enhances grid reliability and introduces innovative peak-shaving operations. Furthermore, the chosen site has the potential to expand capacity to 20MW/80MWh if additional grid interconnection becomes available.
CETA’s Role as EPC Contractor
CETY will act as the Engineering, Procurement, and Construction (EPC) contractor, responsible for end-to-end project completion. This includes meticulous planning, cutting-edge system design, hardware procurement, construction, installation, testing, commissioning, and adherence to New York State’s energy regulations. By ensuring compliance with prevailing wage standards, interconnection rules, and state energy mandates, CETY aligns with industry best practices.
Why This Project Matters
The battery energy storage system underpins New York’s Value of Distributed Energy Resources (VDER) program, an initiative focused on building a robust and sustainable energy network. The project also enables participation in ancillary grid services markets, providing an added revenue stream through energy distribution beyond traditional storage capabilities. Essentially, it supports the stability of the state’s grid during peak demand periods while offering significant scalability for future needs.
Strong Momentum for CETY
This $10 million contract adds to CETY’s growing project backlog, which now surpasses $20 million across various technology areas, including waste-to-energy and heat-to-power systems. With demand for its EPC services constantly rising, CETY is poised to finalize more BESS deployments in New York State, further cementing its position as a leader in clean energy solutions.
How to Accelerate Your Energy Transition
Products like Tesla Powerwall serve as excellent tools for homeowners and businesses seeking reliable energy storage solutions. Featuring advanced battery technology, the Tesla Powerwall allows for convenient energy storage, grid independence, and optimized energy usage for users around the world.
CETY’s Vision: Toward a Sustainable Future
CETY’s innovative multi-technology approach, combining energy storage with waste-to-energy and heat-to-power solutions, uniquely positions the company at the forefront of grid modernization. By focusing on scalable, high-margin projects and striving for cash-flow-positive status, CETY is not only revolutionizing the energy industry but also navigating pathways toward strategic mergers and acquisitions to strengthen its market position.
This transformative project in New York State exemplifies CETY’s dedication to sustainable energy modernization. Stay tuned for further updates as CETY continues to lead the charge in clean energy innovation, driving real impact for a greener future.
