Clean Energy Technologies, Inc., a Nasdaq-listed American company specialising in turnkey energy solutions, has signed a non-binding offer with a European company involved in solar and wind project development. The identity of the European company involved has not been disclosed due to confidentiality clauses.
Initial $4.4mn funding already secured
As part of this transaction, Clean Energy Technologies, Inc. (CETY) has raised an initial $4.4mn in equity funding, which will support the deployment of capital planned under the agreement. The total value of the contemplated acquisition stands at approximately $85mn. These funds will be gradually invested, subject to development milestones agreed with the European partner.
The deal, still subject to the finalisation of definitive agreements, is intended to enable CETY to enter the European renewable power generation market. The company has not specified the timeline for the deployment of capital or the sites targeted by the solar and wind projects.
Strategic expansion into the European market
CETY stated that this strategic move aims to establish a presence in a market viewed as attractive due to its size and regulatory stability. The California-based group is relying on the European Union’s energy policy framework, which it considers favourable to the long-term development of renewable energy projects.
“This partnership is a key milestone in our international expansion strategy,” a CETY representative said, according to the statement published on May 23 by Globe Newswire. No further details were provided regarding the legal structure or governance arrangements between the two parties following the transaction.
Positioning in a competitive market
The deal could enable CETY to increase its clean energy generation capacity and diversify its revenue streams by entering the European segment, which is dominated by established players. The company is counting on the vertical integration of its technologies within the targeted developer’s future installations.
CETY’s management has not disclosed any financial projections regarding expected revenues from this transaction. The agreement remains non-binding at this stage and may evolve depending on the outcomes of ongoing due diligence phases.
