IRVINE, CA, March 30, 2026 (GLOBE NEWSWIRE) -- Clean Energy Technologies, Inc. ( CETY ) , a clean energy technology and solutions provider focused on converting waste and heat into power and fuels, today announced the execution of a non-binding Letter of Intent (“LOI”) with Hoppy Power Ltd. (“Hoppy Power”) to evaluate and advance the deployment of CETY’s proprietary High Temperature Ablative Pyrolysis (HTAP™) technology for waste-to-energy applications.

This initiative represents a meaningful step toward near-term deployment and initial commercialization, with defined milestones in 2026 expected to include engineering validation, permitting progression, and advancement toward definitive agreements. The Company anticipates providing further updates as these milestones are achieved, supporting visibility into execution and potential follow-on deployment opportunities.

As part of this collaboration, Westlock, Alberta has been identified as the initial site under evaluation for a potential first deployment, representing a key step toward commercialization of CETY’s modular waste-to-energy platform. Deployment of CETY’s solution is expected to support the local community by addressing waste management challenges while generating clean, distributed energy. The site is being evaluated based on favorable access to feedstock, existing infrastructure, and a supportive development environment. The parties intend to advance technical validation, engineering design, and project development activities targeting execution beginning in late 2026, subject to successful evaluation, permitting, and execution of definitive agreements.

The proposed modular system is expected to generate up to 2 MW of power per unit, with the ability to process up to 12,000 tons per year of biomass and waste-derived feedstock, supporting distributed deployment across industrial and municipal environments. The platform is designed to convert a wide range of waste streams, including municipal solid waste, agricultural residues, and forestry byproducts, into high-quality and clean syngas for power generation.

The project is intended to serve as an initial demonstration of a scalable deployment model, with each modular unit designed to operate within approximately 2 MW distributed generation. This configuration is aligned with distributed generation frameworks to enable more efficient interconnection and streamlined development pathways. The system is designed to support capital-efficient deployment at the project level, positioning it as a repeatable solution across multiple markets and establishing the foundation for a broader pipeline of repeatable deployments across multiple sites, with the potential to expand into additional locations as part of a scalable rollout strategy.

From a commercial standpoint, the platform is expected to support multiple revenue streams, including waste processing (tipping fees), on-site power generation, biochar production and potential offtake or energy services agreements. These combined revenue streams, together with modular deployment and feedstock flexibility, are designed to support competitive cost-of-energy outcomes relative to conventional biomass and distributed generation alternatives, positioning the platform within commercially viable ranges observed in comparable projects.

Under the LOI, CETY will conduct technical and commercial evaluations, including feedstock analysis, system integration studies, and preliminary engineering design. The Company also expects to support pilot deployment activities at the Westlock site, including provision and operation of its HTAP equipment during the initial validation phase, with performance-based milestones tied to operational uptime and readiness. Key near-term milestones include completion of engineering validation, confirmation of feedstock supply, permitting progression, and progress toward definitive agreements.

The advancement of this project is subject to a number of factors, including technical validation, feedstock availability, securing required permits and regulatory approvals, access to capital, and execution of definitive agreements between the parties. In addition, scaling from pilot deployment to broader commercial rollout will require continued demonstration of system performance, economic viability, and market demand.

“This collaboration represents a meaningful step toward commercialization of our HTAPTM technology through an initial field deployment,” said Kam Mahdi, Chief Executive Officer of CETY. “Advancing toward a first deployment reflects our ability to answer growing demand for scalable, distributed waste-to-energy solutions. We believe this model has the potential to be replicated as we continue to convert waste streams into valuable energy infrastructure.”

The parties intend to work together to complete a comprehensive business case, pursue regulatory approvals, and explore potential funding pathways, including Canadian federal and municipal programs. Both companies share a common objective of advancing toward full project development and commercialization, subject to successful evaluation, permitting, capital availability, and execution of definitive agreements.

CETY and Hoppy Power will engage with industry participants at the upcoming International Biomass Conference & Expo in Nashville, Tennessee, from March 31 through April 2, 2026. This annual event serves as a key platform for stakeholders across the biomass and waste-to-energy sectors, including developers, utilities, industrial operators, and technology providers focused on advancing renewable energy solutions.

During the Biomass Conference, CETY will highlight its HTAP™ technology and integrated waste-to-energy and heat-to-power solutions. Representatives from CETY and Hoppy Power, along with Metis Power, the system integration and combustor manufacturing partner, will be available to discuss system capabilities, integration opportunities, and applications across industrial, municipal, and biomass markets. The companies will also explore strategic partnerships and advance discussions around potential project deployments.

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. CETY also holds a minority ownership interest in, and is affiliated with Vermont renewable Gas LLC. 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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About METIS Power Inc.

METIS Power Inc. is a California-based power generation technology company specializing in advanced combustion solutions and modular power packaging. METIS allows for the utilization of difficult-to-burn fuels through its proprietary MEC5700™ external combustor technology and the MPG2000E™ power generation package. METIS focuses on enabling efficient, distributed energy generation for industrial and waste-to-energy applications. For more information visit https://metispower.com/home/fuel-flexible-power-generation/.

This summary should be read in conjunction with the Company’s quarterly report on Form 10-Q for the quarterly period ended September 30, 2025 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. ( CETY )

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Source: Clean Energy Technologies, Inc. ( CETY )

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Source: Clean Energy Technologies, Inc. ( CETY )