Latest news with #NBO
Yahoo
26-05-2025
- Business
- Yahoo
CETY signs deal to expand into European solar and wind market
Clean Energy Technologies (CETY) has announced the signing of a Non-Binding Offer (NBO) with an undisclosed European solar and wind development company. The deal, estimated at approximately $85m, is anticipated to enhance CETY's operations across Europe and establish a strong position in the region's growing renewable energy landscape, supported by favourable government policies. The initial $4.4m equity investment secured by CETY is expected to contribute to the funds required for the NBO transactions. CETY's expansion into Europe is seen as a strategic move to tap into the continent's robust and stable renewable energy policies, which are conducive to long-term growth. The company's entry into the European market is poised to leverage the scalability and profitability of solar and wind power generation. Headquartered in Irvine, California, CETY offers eco-friendly energy solutions, clean energy fuels, and alternative electric power for small to mid-sized projects across North America, Europe, and Asia. The company recently entered a Memorandum of Understanding (MOU) with Qymers Canada in March, securing an initial $500,000 order for two Clean Cycle units. These units are intended to support Qymera's monobore geothermal technology, offering a dedicated power source for mines, manufacturing facilities, and data centres, aiming for zero carbon emissions. The partnership between CETY and Qymers Canada involves a pilot deployment of CETY's magnetic bearing heat-to-power generator in Qymera's geothermal projects. CETY will provide technical and operational support, contributing its expertise in optimising heat-to-power conversion. Qymers Canada will offer operational data and feedback, with both companies exploring joint development opportunities for geothermal and heat-to-power solutions. "CETY signs deal to expand into European solar and wind market" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Mid East Info
26-05-2025
- Business
- Mid East Info
Muzn Islamic Banking Strengthens Support for Oman's Housing Vision through Developer Partnerships - Middle East Business News and Information
26 May 2025, Muscat: NBO Muzn Islamic Banking has announced the signing of two Memoranda of Understanding (MOUs) with Sohar Real Estate Development LLC to support the Hai Majd Project and Zain Property Development LLC to support Husn Al Zain Project. The agreements enable Muzn Islamic Banking to provide Shari'a-compliant home financing solutions to eligible customers purchasing properties developed under the Sorouh Initiative for Integrated Residential Neighbourhoods. Formalised by officials from the Ministry of Housing and Urban Planning, the National Bank of Oman (NBO), and the respective developers; the agreements were signed by Abdullah Zahran Al Hinai, Chief Executive Officer of NBO, Mahmood Al Mandhari, CEO of Sohar Real Estate Development LLC, and Mish'al Al Raisi, Managing Director of Zain Property Development LLC. Commenting on the agreements, Salima Obaid Issa Al-Marzoqi, Assistant General Manager and Chief Islamic Banking Officer at NBO, stated, 'These partnerships mark a significant milestone in our efforts to deliver accessible, Shari'a-compliant housing solutions. Muzn Islamic Banking is committed to empower individuals and families across Oman with ethical financing options that align with their values. Through our collaboration with trusted developers and MOHUP, we are proud to support the government's vision of sustainable urban communities.' The Sorouh Initiative, spearheaded by the Ministry of Housing and Urban Planning, aims to provide integrated residential communities across Oman through partnerships with the private sector. Muzn Islamic Banking's role in this initiative underscores its ongoing support for national development priorities and its focus on delivering innovative Islamic financial products and services.
Zawya
26-05-2025
- Business
- Zawya
Muzn Islamic Banking strengthens support for Oman's housing vision through developer partnerships
Muscat: NBO Muzn Islamic Banking has announced the signing of two Memoranda of Understanding (MOUs) with Sohar Real Estate Development LLC to support the Hai Majd Project and Zain Property Development LLC to support Husn Al Zain Project. The agreements enable Muzn Islamic Banking to provide Shari'a-compliant home financing solutions to eligible customers purchasing properties developed under the Sorouh Initiative for Integrated Residential Neighbourhoods. Formalised by officials from the Ministry of Housing and Urban Planning, the National Bank of Oman (NBO), and the respective developers; the agreements were signed by Abdullah Zahran Al Hinai, Chief Executive Officer of NBO, Mahmood Al Mandhari, CEO of Sohar Real Estate Development LLC, and Mish'al Al Raisi, Managing Director of Zain Property Development LLC. Commenting on the agreements, Salima Obaid Issa Al-Marzoqi, Assistant General Manager and Chief Islamic Banking Officer at NBO, stated, 'These partnerships mark a significant milestone in our efforts to deliver accessible, Shari'a-compliant housing solutions. Muzn Islamic Banking is committed to empower individuals and families across Oman with ethical financing options that align with their values. Through our collaboration with trusted developers and MOHUP, we are proud to support the government's vision of sustainable urban communities.' The Sorouh Initiative, spearheaded by the Ministry of Housing and Urban Planning, aims to provide integrated residential communities across Oman through partnerships with the private sector. Muzn Islamic Banking's role in this initiative underscores its ongoing support for national development priorities and its focus on delivering innovative Islamic financial products and services. For more information on Muzn Islamic Banking home financing solutions, customers can contact Muzn Islamic Banking customer service at 24770001 or visit
Business Upturn
24-05-2025
- Business
- Business Upturn
CETY Signs Non-Binding Offer with a European Solar and Wind Development Company
IRVINE, CA., May 23, 2025 (GLOBE NEWSWIRE) — Clean Energy Technologies, Inc. (Nasdaq: CETY) (the 'Company' or 'CETY'), a turnkey energy solutions provider leveraging advanced technologies to deliver cost-effective, eco-friendly green energy solutions, clean energy fuels, and alternative electricity for a sustainable future is pleased to announce signing a Non-Binding Offer (the 'NBO') with a European Solar and Wind development company (whose identity is currently undisclosed due to confidentiality reasons). In connection with the proposed transaction contemplated by the NBO, CETY has secured an initial $4,400,000 in equity investment that is expected to form a portion of the funds that would be deployed by the Company in connection with the NBO transactions. The total deal size is estimated to be approximately $85,000,000, with investments in the development company based on scheduled milestones. This transaction is expected to expand CETY's operations to Europe and allow CETY to gain a foothold in the scalable and lucrative market of solar and wind power generation. CETY also believes that Europe has strong and stable government policies that support long-term growth of renewable energy. 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. 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. CETY Waste to Energy Solutions convert waste products created in manufacturing, agriculture, wastewater treatment plants and other industries to electricity and BioChar. CETY 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 Follow CETY on our social media channels: Twitter | LinkedIn | Facebook This summary should be read in conjunction with the Company's quarterly report on Form 10-Q for the quarterly period ended September 30, 2024 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 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. Investor and Investment Media inquiries:949-273-4990 [email protected]
Business Insider
24-05-2025
- Business
- Business Insider
Clean Energy announces non-binding offer with European company
Clean Energy Technologies (CETY) announced signing a non-binding offer with a European Solar and Wind development company. In connection with the proposed transaction contemplated by the NBO, Clean Energy Technologies has secured an initial $4.4M in equity investment that is expected to form a portion of the funds that would be deployed by the company in connection with the NBO transactions. The total deal size is estimated to be approximately $85,000,000, with investments in the development company based on scheduled milestones. This transaction is expected to expand operations to Europe. Confident Investing Starts Here:
