Clean Energy Technologies, Inc. (CETY), a leader in clean energy and waste-heat recovery solutions, has announced a strategic collaboration with Qymera Global Energy Ltd. (QGE) to advance and commercialize the DeepFyre™ geothermal power system. The system is designed to deliver scalable, cost-efficient, zero-emission baseload power for island nations and emerging markets worldwide.
The partnership combines CETY’s proprietary heat-to-power and Organic Rankine Cycle (ORC) technologies, along with its strategic alliance with Exergy International Srl, with QGE’s DeepFyre™ monobore geothermal platform. This next-generation well architecture uses advanced resin-based casings to improve heat transfer and simplify drilling. Together, the companies plan to deploy modular geothermal units ranging from 5 MW to 50 MW, reducing capital costs and accelerating the time to power.
The global geothermal market, valued at approximately USD 8.75 billion in 2024, is projected to grow to over USD 12 billion by 2033, at a compound annual growth rate (CAGR) of 4.2%.