Clean energy companies are on the radars of many investors nowadays and one of the companies that could be worth watching at this point is Clean Energy Technologies Inc (OTCMKTS:CETY).
Trading Data
On Wednesday, CETY stock fell 4.93% to $0.0338 with 204k shares, compared to its average volume of 977k shares. The stock moved within a range of $0.0302 – 0.0370 after opening trade at $0.0364.
CETY announces new strategic partnership with Enertime to offer a wider range of Heat Recovery Solutions in the North American Market Place
The company is involved in providing solutions and products related to the environmental sustainability and energy efficiency industries. While it is true that the Clean Energy Technologies did not do well yesterday and in fact tanked by as much as 5%, it could be a good idea to keep in mind that the company did make a major announcement yesterday that investors ought to look into.
Clean Energy Technologies announced yesterday that it had gone into a technology partnership with the clean tech firm Enertime. As per the terms of the partnership between the two companies, the two companies are going to be engaged in the development of large scale ORC solutions that are going to generate power to the tune of more than 1 MW.
It was a major new announcement from the company and it is going to be interesting to see how this partnership helps in boosting Clear Energy Technologies’ growth in the medium to long term. It may be a good time to add the stock to your watch lists.
Key Quote
Kam Mahdi, CETY’s CEO said “Technology partnerships are essential elements in the creation of a successful business and should allow us to obtain immediate access to markets, and operational scalability that would simply not be possible if we rely on internal organic growth. Our partnership with Enertime is expected to greatly improve our ability to address a larger market and allow us to continue to expand our share of the clean energy sector”.
Technical Data
CETY stock is trading below the 20-Day and 50-Day Moving averages of $0.0369 and $0.0339 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0486.
