Clean Enviro (OTCBB: CETC), (BERLIN: A1KB22), (ISIN: US18452C1080), (SYMBOL: SO3A) (www.cleanenvirotech.com) (http://www.cleanenvirotech.de), an emerging leader in the development and marketing of next generation lithium-ion powered batteries worldwide and a leading developer of residential, Solar Concentrating, Electric Power Generation Systems able to produce in excess of 2,000 WATTS (2 Kilowatts) (kw) of electric power, with zero emissions using sunlight as the only fuel, is pleased to announce that loan terms and documents for the company to receive a $2 million loan with a private source have been finalized and executed.
The loan proceeds are currently allocated in part to achieve final engineering and the establishment of manufacturing and retail distribution.
With the recently announced significant breakthrough of the in-house designed, proprietary heat dissipation technology with closed loop cooling, Clean Enviro Tech is now positioned to move towards final engineering, manufacturing and market release of the Residential, Solar Concentrating, Electric Power Generation System.
Clean Enviro Tech displayed and demonstrated the Residential, Solar Concentrating, Electric Power Generation System at Solar Power International (SPI) at the Dallas Convention Center. Attendees, including officials from the U.S. Department of Energy were just amazed by the advanced design, high efficiency and space saving features of the Clean Enviro Tech System.
ABOUT SPI: Solar Power International (SPI) is North America's largest, most comprehensive solar power trade show and conference. This annual, business-to-business event was the first of its kind in North America and grows bigger and better every year. Nearly 24,000 professionals from 125+ countries attended. With one out of five attendees coming from outside the United States and over 1,100 companies from all vertical markets in the solar power spectrum exhibited in a space of more than 1 million gross square feet.
Unlike conventional solar panels, the Clean Enviro Tech Residential, Solar Concentrating, Electric Power Generation System can produce electrical output with cloud cover as high as 70% and at the same time requiring 1/3 of the surface area of solar panels making the Clean Enviro Tech unit ideal for applications with limited surface area. This opens a market segment which allows Clean Enviro Tech to stand alone and fill a market void ignored by others.
Using a highly reflective parabolic dish to concentrate 500 Suns onto a single point, the Clean Enviro Tech System amplifies sun light and converts that light into electricity, even with 70% cloud cover where solar panels simply cannot. Using Shade Sensing Tracking technology, the system locates, locks onto the sun at sunrise and tracks through the day; regardless of season and will work for over 80% of the world. The Sterling Engine also uses a parabolic dish configuration but can only work in near dessert conditions greatly limiting its ability.
The retail cost of the Clean Enviro Tech Residential, Solar Concentrating, Electric Power Generation System which is able to produce in excess of 2,000 WATTS (2 Kilowatts) (kw) of electric power, with zero emissions using sunlight as the only fuel is expected to be $5,000(US). With the Clean Enviro Tech solution costing about 25% of equivalent solar panel systems, the consumer's period of cost recoupment is 75% shorter with the Clean Enviro Tech System compared to other systems.
The Clean Enviro Tech Residential, Solar Concentrating, Electric Power Generation System is perfect for most all residential installation. Combining units together for virtually unlimited electric output, makes the Clean Enviro Tech unit ideal for commercial applications.
The Clean Enviro Tech residential solar power station will have the ability to reduce the average user's monthly electric grid consumption by up to 30-40% with ZERO emissions and ZERO carbon footprint; using only solar power. Visually appealing, the Clean Enviro Tech System can easily be installed in most backyards taking less than one third of the space of conventional Solar panels. Multiple units can be combined for increased capacity on a linear scale.
Electric consumption in the United States is increasing at a rate that will outpace the anticipated expansion of the US Electric Grid's capacity and Clean Enviro Tech has identified this and is poised for expansion into the Residential Electric Power Generation market to allow end users to generate and return 30-40% of their electric usage back to the grid using "Net-Metering" and the Clean Enviro Tech System.
Clean Enviro Tech is the exclusive provider of advanced Lithium Ion battery technology to Terra Inventions for use in their all electric, zero emission automobiles sees the growth in the consumer acceptance of all electric cars and the increased burden that will place on the US Electric Grid as electrical capacity is expected to decline. The Residential Solar Generation System will augment the Electric Grid by lowering the grid consumption of the users and actually augmenting the Electric Grid by producing and sending electricity from the residential user's surplus back into the grid, causing the user's electric meter to run backwards. This not only reduces their electric bill, but more importantly adds needed power to a stressed grid benefiting everyone.
FORWARD LOOKING STATEMENT:
This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ.
SOURCE: Clean Enviro Tech Corp.
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