Press Releases Archives - Page 4 of 23 - Camber Energy, Inc. (CEIN)

CEI's Power Solutions Division Continues to Perform

HOUSTON, TX / ACCESSWIRE / May 9, 2024 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company") is pleased to announce the recent shipment of certain power generation products, including multiple custom generator sets, by its majority owned subsidiary, Simson-Maxwell, Ltd., a leading manufacturer and supplier of power generation products, services and custom energy solutions. Details of certain shipments in Q-2 are as follows:

About Simson-Maxwell Ltd.

Simson-Maxwell Ltd., a majority-owned subsidiary of Camber Energy, Inc., manufactures and supplies power generation products, services and custom energy solutions. Simson-Maxwell provides commercial and industrial clients with efficient, flexible, environmentally responsible and clean-tech energy systems involving a wide variety of products, including CHP (combined heat and power), tier 4 final diesel and natural gas industrial engines, solar, wind and storage. Simson-Maxwell also designs and assembles a complete line of electrical control equipment including switch gear, synchronization and paralleling gear, distribution, Bi-Fuel and complete power generation production controls. Operating for over 80 years, Simson-Maxwell's seven branches assist with servicing a large number of existing maintenance arrangements and meeting the energy and power-solution demands of the Company's other customers.

About Camber Energy, Inc.

For more information, please visit the company's website at www.camber.energy.

Forward-Looking Statements

This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Any statements that are not historical facts contained in this press release are "forward-looking statements", which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the oil and gas industry, the COVID-19 pandemic, the performance of management, actions of government regulators, vendors, and suppliers, our cash flows and ability to obtain financing, competition, general economic conditions and other factors that are detailed in Camber's filings with the Securities and Exchange Commission. We intend that all forward-looking statements be subject to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995.

Camber cautions that the foregoing list of important factors is not complete, any forward-looking statement speaks only as of the date on which such statement is made, and Camber does not undertake to update any forward-looking statements that it may make, whether as a result of new information, future events or otherwise, except as required by applicable law. All subsequent written and oral forward-looking statements attributable to Camber or any person acting its behalf are expressly qualified in their entirety by the cautionary statements referenced above.

Contact Information
Investors and Media:
Tel. 281.404.4387

SOURCE: Camber Energy, Inc.

View the original press release on accesswire.com

CEI Continues to Bolster I.P. Portfolio

HOUSTON, TX / ACCESSWIRE / May 1, 2024 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company"), today announced that on April 23, 2024, the U.S. Patent and Trademark Office (USPTO) issued U.S. patent 11,965,924 entitled " Electric Transmission Line Ground Fault Prevention Systems Using Multi-Parameter Monitoring", which is part of the Company's expanding portfolio of intellectual property (including previously announced patent Nos. 11,942,776, 11,769,998 and 11,831,147) associated with its Broken Conductor Protection technology.

James Doris, President and CEO of Camber, commented "Strengthening and protecting our intellectual property provides a competitive advantage in the marketplace and is an important part of our strategic commercialization plan."

The Company's Broken Conductor Protection technology detects a break or a coupling failure in a transmission line, and immediately de-energizes the line before it reaches the ground. The solution is designed to be an integral component within existing grid protection systems, improving resiliency and reliability, eliminating the need for Public Safety Power Shutdown Programs, and significantly reducing the risk of fires and improving public safety.

The new patent was issued to Viking Protection Systems, LLC, a majority-owned subsidiary of Camber's wholly-owned subsidiary, Viking Energy Group, Inc.

About Camber Energy, Inc.

Camber Energy, Inc. is a growth-oriented diversified energy company. Through its wholly-owned subsidiary, Viking Energy Group, Inc., Camber: (i) provides custom energy & power solutions to commercial and industrial clients in North America; (ii) holds an exclusive license in Canada to a patented carbon-capture system; and (iii) has a majority interest in: (a) an entity with intellectual property rights to a fully developed, patented, ready-for-market proprietary Medical & Bio-Hazard Waste Treatment system using Ozone Technology; and (b) entities with the intellectual property rights to fully developed, patent pending, ready-for-market proprietary Electric Transmission and Distribution Open Conductor Detection Systems. For more information, please visit the company's website at www.camber.energy.

Forward-Looking Statements

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SOURCE: Camber Energy, Inc.

View the original press release on accesswire.com

I.P. is Part of Solution Designed to Mitigate Wildfire Risk and Improve Grid Stability

HOUSTON, TX / ACCESSWIRE / March 28, 2024 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company"), today announced that on March 26, 2024, the U.S. Patent and Trademark Office (USPTO) issued U.S. patent11,942,776 entitled "Electric Transmission Line Ground Fault Prevention Systems Using Dual Parameter Monitoring With High Sensitivity Relay Devices in Parallel With Low Sensitivity Relay Devices".

This new patent is part of a portfolio of intellectual property that has been incorporated into Broken Conductor Protection technologies:

designed to detect a broken conductor anywhere on a transmission circuit and de-energize the line within half of a second before it touches the ground or a grounded structure;
which do not interfere with existing protection;
work on all transmission circuits in conjunction with existing equipment;
are more reliable than other solutions because they leverage the physics of a transmission circuit; and
designed to prevent broken conductors from starting fires and/or injuring persons.
The technology is designed to be an integral component within a much-needed, worldwide grid hardening and stability initiative by electric utilities to improve resiliency and reliability of existing infrastructure.

The new patent was issued to Viking Protection Systems, LLC, a majority-owned subsidiary of Camber's wholly-owned subsidiary, Viking Energy Group, Inc.

About Camber Energy, Inc.

Forward-Looking Statements

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SOURCE: Camber Energy, Inc.

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HOUSTON, TX / ACCESSWIRE / March 26, 2024 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company"), is pleased to announce the Company received a letter from the NYSE American LLC (the "Exchange") advising that the Company is back in compliance with all of the Exchange's continued listing standards set forth in Part 10 of the NYSE American Company Guide ("Company Guide"). Specifically, the Company has resolved the continued listing deficiency with respect to Sections 1003(a)(i),(ii) and (iii)of the Company Guide referenced in the Exchange's letter dated April 12, 2023 since it demonstrated compliance with the continued listing standards for a period of two consecutive quarters pursuant to Section 1009(f) of the Company Guide.

Additional details regarding the communication from the Exchange were included in, and the description above is qualified in its entirety by Camber's Current Report on Form 8-K filed with the Securities and Exchange Commission ("SEC") on March 26, 2024, which is available under "investors" - "SEC filings" at www.camber.energy.

About Camber Energy, Inc.

Forward-Looking Statements

Contact Information
Investors and Media:
Tel. 281.404.4387

SOURCE: Camber Energy, Inc.

View the original press release on accesswire.com

HOUSTON, TX / ACCESSWIRE / March 25, 2024 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company"), today announced that, as previously disclosed in its annual report on Form 10-K for the fiscal year ended December 31, 2023, which was filed with the Securities and Exchange Commission on March 25, 2024, the audit opinion contained a going concern qualification from the Company's independent registered public accounting firm. This announcement is being made solely to comply with the New York Stock Exchange's Company Guide Sections 401(h) and 610(b), which require separate disclosure of receipt of an audit opinion that contains a going concern qualification. This announcement does not represent any change or amendment to the Company's 2023 audited financial statements or to its 2023 annual report on Form 10-K.

About Camber Energy, Inc.

Forward-Looking Statements

Contact Information
Investors and Media:
Tel. 281.404.4387

SOURCE: Camber Energy, Inc.

View the original press release on accesswire.com

ESG's Test Results Show Greater Than 99% Efficiency

HOUSTON, TX / ACCESSWIRE / March 7, 2024 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company"), a growth-oriented diversified energy company, shared today the most recent announcement from ESG Clean Energy, LLC ("ESG") advising that the results of additional testing of ESG's water removal system for its patented carbon-capture technology indicate a water removal rate greater than 99%. This is a further improvement from the previously announced 90% efficiency rate following ESG's initial testing. All testing conducted so far exceed ESG's original modeled forecasts during the design phase which regarded an 80% efficiency a successful result.

James Doris, President and CEO of Camber, commented "It is great to see ESG achieve this significant testing milestone which represents an unparalleled result for the industry as a whole as it relates to being able to capture C02 cost effectively. This achievement will enhance our market position and expedite the next steps toward monetizing our license of ESG's expansive intellectual property portfolio."

What Does it Mean for the C02-Capture Industry?

Water molecules in an exhaust stream interfere with the carbon capture process, and ESG's patented system removes the majority of the water from the exhaust stream prior to the C02 being captured. Reaching the level of dryness supported by ESG's recent test results enables the better use of energy-efficient solid adsorber materials to capture the C02 instead of the high cost and energy intensive liquid adsorbers currently in use today. Put simply, ESG system is changing the industry by making it more cost-effective to capture CO2.

What Does it Mean for CEI

Camber, through a subsidiary, has licensed ESG's Clean Energy System, which includes an intellectual property portfolio of nine patents, for exclusive use in all of Canada, and for multiple locations in the U.S.

The market opportunity in Canada alone is significant. For example, as part of the Canadian government's carbon tax program, as of April 1, 2023 the federal carbon charge increased to $65 per ton of carbon dioxide equivalent ("CO2e"), and is set to increase annually each April through to 2030 when the carbon tax rate will be $170 per ton of CO2e. The escalating carbon tax is forcing industrial CO2 emitters to explore ways to reduce their carbon footprint.

The ESG Clean Energy System is designed to be a pragmatic, cost-effective solution to assist not only with reducing a user's tax burden by capturing CO2 cost-effectively but also to provide the user an opportunity to generate revenue from other features of the system. Camber intends to leverage existing relationships, including through its majority-owned subsidiary, Simson-Maxwell Ltd., to market the ESG Clean Energy System throughout Canada.

ESG's Recent Announcement

Regarding the additional test results of its patented water removal system, on March 4, 2024 ESG issued a press release which stated, in part:

****

ESG Clean Energy Reaches New Milestone of Over 99% Efficiency in Its Carbon Capture, Water Removal System

Achieving dry exhaust enhances and simplifies carbon capture

WEST SPRINGFIELD, Mass.--(ESG CLEAN ENERGY) / March 4, 2024 --ESG Clean Energy, LLC, developers of power generation/carbon capture systems with a nearly Zero Carbon output, announced today that results from continued testing of its patented water removal system exceeded a water removal rate of over 99 percent. Reaching this level of dryness from fossil fuel power generation emissions enables the better use of energy-efficient solid adsorber materials to capture carbon dioxide instead of the high cost and energy intensive liquid adsorbers currently in use today.

This major technical milestone was achieved by increasing both the systems' temperature and pressure differentials, enabling unprecedented exhaust dryness levels. This development makes it possible to conduct large- and small-scale direct carbon capture in a more viable and cost-effective manner. Testing was conducted at the company's 4.4MW gas-powered power generation plant in Holyoke that serves the local electrical grid.

"Reaching over 99% water removal is essentially making the emissions bone-dry," said Nick Scuderi, President of ESG Clean Energy, LLC. "With exhaust that dry, we believe capturing carbon dioxide can be done so much easier using low-cost and energy efficient solid adsorbers. This development provides a clearer path to applying this technology to all types of fossil fuel engines - from small and large power plants to the transportation industry."

ESG Clean Energy plans on implementing this technology across all its planned facilities and has licensed the technology to a subsidiary of Camber Energy (NYSE (Amex):CEI) for all of Canada and multiple locations in the United States.

How it Works

ESG Clean Energy's system treats the exhaust stream to remove the water vapor before it is treated for capturing CO2. This patented system consists of an advanced ceramic membrane that has been incorporated into a unique mechanical cooling system. With this technology, capturing carbon dioxide becomes both low cost and energy efficient. It is designed to be used on both large and small systems and can be retrofitted onto current operating power plants.

Capturing carbon dioxide (CO2) from fossil fuel emissions has historically been an expensive and energy intensive process. Fossil fuel emissions consist of a mixture of gases such as nitrogen, oxygen, carbon dioxide, nitrogen oxides, carbon monoxide, and water vapor. Separating and capturing the carbon dioxide in a gas mixture like this can be difficult. However, there are materials that have been developed that will selectively attach or react with the CO2 while letting the other gases pass by - except for the water vapor.

Water gets in the exhaust steam because it is a byproduct of combustion. When fossil fuel burns, it makes three things: heat, carbon dioxide, and water. The historical challenge has been water molecules interfering with the carbon capture process. Several scientific studies have shown how water negatively affects CO2 capture. For example, a study done by ETH Zurich Institute of Process Engineering and Stanford University stated, "In all carbon capture processes the feed steam contains water vapor, which interferes with the mechanisms involved in the adsorption of CO2."

[….]

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About Camber Energy,Inc.

Forward-Looking Statements

Camber cautions that the foregoing list of important factors is not complete, any forward-looking statement speaks only as of the date on which such statement is made, and Camber does not undertake to update any forward-looking statements that it may make, whether as a result of new information, future events or otherwise, except as required by applicable law. All subsequent written and oral forward-looking statements attributable to Camber or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements referenced above.

Contact Information
Investors and Media:
Tel. 281.404.4387

SOURCE: Camber Energy, Inc.

View the original press release on accesswire.com

Modeled Forecasts Regard ∼ 80% Efficiency a Success

ESG's Test Results Show > 90% Efficiency!

HOUSTON, TX / ACCESSWIRE / February 23, 2024 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company"), a growth-oriented diversified energy company, shared today the recent announcement from ESG Clean Energy, LLC ("ESG") advising the results from initial tests of ESG's patented water removal system exceed a water removal rate of over 90 percent. Reaching this level of efficiency in removing water from emissions associated with power generation enables the lowest-cost and most energy efficient way of capturing carbon, according to technical specialists at ESG.

Nick Scuderi, President of ESG, commented "We had no doubt about the effectiveness of our design but reaching this level of efficiency so quickly has surpassed even our own expectations. As we further optimize the process and integrate it with other elements of our proprietary system, we believe the efficiency rate will be even higher. This will work to our benefit as we scale to meet the demands of fossil fuel consumption in small and large power facilities, and eventually the transportation industry."

The testing took place recently at ESG's 4MW power generation site in Holyoke, MA. Using calibrated humidity sensors positioned at both the beginning and the end of the exhaust stream, the results exceeded the modeled forecast of 83 percent which was developed during the initial design phase of ESG's carbon capture process.

Camber, through a subsidiary, has licensed the ESG's Clean Energy System, which includes an intellectual property portfolio of nine patents, for exclusive use in all of Canada, and for multiple locations in the U.S.

ESG's Recent Announcement

Regarding the initial test results of its patented water removal system, on February 22, 2024 ESG issued a press release which stated, in part:

****

ESG Clean Energy Announces Positive Test Results of Patented Carbon Capture Water Removal System

Modeled Forecasts Regard ∼ 80% Efficiency a Success

ESG's Test Results Show > 90% Efficiency!

WEST SPRINGFIELD, Mass. - (Feb. 22, 2024) - ESG Clean Energy, LLC, developers of power generation/carbon capture systems with a nearly Zero Carbon output, announced today that the results from initial tests of its patented water removal system exceed a water removal rate of over 90 percent. Reaching this level of efficiency in removing water from power generation emissions enables the lowest-cost and most energy efficient way of capturing carbon.

The testing took place recently at ESG's 4MW power generation site in Holyoke. Using calibrated humidity sensors positioned at both the beginning and the end of the exhaust stream, the results exceeded the modeled forecast of 83 percent which was developed during the initial design phase of its carbon capture process.

[….]

ESG Clean Energy plans on implementing this technology across all its planned facilities and has licensed the technology to a subsidiary of Camber Energy (NYSE (Amex): CEI) for all of Canada and multiple locations in the United States.

How it Works

ESG Clean Energy's system treats the exhaust stream to remove the water vapor before it is treated for capturing CO2. This patented system consists of an advanced ceramic membrane that has been incorporated into a unique mechanical cooling system. With this technology, capturing carbon dioxide becomes both low cost and energy efficient. It can be used on both large and small systems and can be retrofitted onto current operating power plants.

[….]

About ESG Clean Energy, LLC

ESG Clean Energy, LLC (ESG) develops natural gas power generation/carbon capture systems with a nearly Zero Carbon Footprint. The patented technology is designed to generate large amounts of electricity and produce distilled water and CO₂-based commodities, such as compressed CO2, ethanol, hydrogen, and Diesel exhaust fluid. ESG is working to secure additional projects around the world and has awarded exclusive rights to its patent portfolio to Viking Energy Group, a wholly owned subsidiary of Camber Energy, Inc., (CEI) for exclusive use in Canada and multiple locations in the U.S. More information about ESG Clean Energy and its technology can be found at www.ESGcleanEnergy.com.

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About Camber Energy,Inc.

Forward-Looking Statements

Contact Information
Investors and Media:
Tel. 281.404.4387

SOURCE: Camber Energy, Inc.

View the original press release on accesswire.com

Interests Include Long-Standing Power Solutions' Business and Industry-Changing Technologies

HOUSTON, TX / ACCESSWIRE / February 20, 2024 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company") is pleased to provide the following overview regarding certain companies and/or investments in which the Company has an interest.

James Doris, President and CEO of Camber, commented "We continue to strengthen our platform as we execute on our diversified growth strategy to mitigate risk and provide multiple opportunities for value appreciation. We are pleased to have recently announced the achievement of important milestones in certain of our divisions and look forward to sharing more news as additional progress is made."

More Information

Simson-Maxwell:

Simson-Maxwell is a leading manufacturer and supplier of industrial engines and power generation products, and has provided primary and secondary power solutions for industrial and commercial clients for over 80 years. https://www.simson-maxwell.com/

Viking Ozone Technology:

Viking Ozone offers a cleaner, safer and more sustainable alternative for medical waste treatment, and its system is a more environmentally friendly and cost-effective alternative to incineration, chemical treatment, autoclave and heat treatments for regulated medical waste and bio-hazardous waste. https://vkin-ozone.com/

Open Conductor Detection Technology:

The technology is designed to detect a break in a power line and to immediately de-energize the line before it reaches the ground, in an effort to dramatically increase public safety and reduce the risk of causing an incendiary event. https://camberprotection.com/

Carbon-Capture & Commodity Production Technology:

Camber's subsidiary has licensed the intellectual property associated with ESG Clean Energy, LLC's power generation/carbon capture technology which is designed to capture CO2 cost-effectively and produce distilled water and CO₂-based commodities, such as compressed CO2, ethanol, hydrogen, and diesel exhaust fluid. https://esgcleanenergy.com/

The Company's interests in the aforementioned entities and/or licenses are detailed in, and the above descriptions are qualified in their entirety by reference to, the Company' filings with the Securities and Exchange Commission which are available under "investors" - "SEC filings" at www.camber.energy.

About Camber Energy, Inc.

Camber Energy, Inc. is a growth-oriented diversified energy company. Through its wholly-owned subsidiary the company: (i) provides custom energy & power solutions to commercial and industrial clients in North America; (ii) holds an exclusive license in Canada to a patented carbon-capture system; and (iii) has a majority interest in: (a) an entity with intellectual property rights to a fully developed, patented, ready-for-market proprietary Medical & Bio-Hazard Waste Treatment system using Ozone Technology; and (b) entities with the intellectual property rights to fully developed, patent pending, ready-for-market proprietary Electric Transmission and Distribution Open Conductor Detection Systems. For more information, please visit the company's website at www.camber.energy.

Forward-Looking Statements

Contact Information
Investors and Media:
Tel. 281.404.4387

SOURCE: Camber Energy, Inc.

View the original press release on accesswire.com

ESG Advises Testing of Industry-Changing Water Removal System Exceeds Expectations

HOUSTON, TX / ACCESSWIRE / February 12, 2024 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company"), a growth-oriented diversified energy company, shared today the announcement from ESG Clean Energy, LLC ("ESG") advising the results of recent testing of ESG's patented water removal system at its active power generation site in Holyoke, MA, were consistent with and/or exceeded ESG's modeled forecasts and confirms, according to ESG, capturing carbon dioxide can now be achieved at a low cost and in an energy-efficient manner utilizing ESG Clean Energy's industry-changing technology (the "ESG Clean Energy System").

Camber, through its subsidiary, has licensed the ESG Clean Energy System, which includes an intellectual property portfolio of nine patents, for exclusive use in all of Canada, and for multiple locations in the U.S.

James Doris, Camber's President & CEO, stated "The size of this opportunity has increased, especially in Canada, since we made our initial investment, and we are pleased ESG has reached this critical milestone so we can work collaboratively on the next phase of the commercialization strategy toward monetizing our license. In my view we have a distinct competitive advantage in Canada with not only the exclusive rights to ESG's revolutionary technology but also with our ability to leverage the relationships and expertise of our subsidiary, Simson-Maxwell Ltd., a respected participant in the power solutions' sector in Canada for over 80 years, to allow us to introduce the technology to the market in an expedient manner."

The global carbon Capture, Utilization, and Storage market size was estimated at USD 3.1 billion in 2022 and projected to grow to USD 12.9 billion by 2030 at a CAGR of 24.0% during the forecast period.

Canada's Carbon Tax

As part of the Canadian government's carbon tax program, as of April 1, 2023 the federal carbon charge increased to $65 per ton of carbon dioxide equivalent ("CO2e"), and is set to increase annually each April through to 2030 when the carbon tax rate will be $170 per ton of CO2e. The escalating carbon tax is forcing industrial CO2 emitters to explore ways to reduce their carbon footprint, and the ESG Clean Energy System is designed to be a pragmatic, cost-effective solution to assist not only with reducing a user's tax burden by capturing CO2 cost-effectively but also to provide the user an opportunity to generate revenue from other features of the system.

ESG's Recent Announcement

Regarding its patented water removal system, on February 12, 2024, ESG issued a press release which stated, in part:

****

ESG Clean Energy Solves The Carbon Capture Puzzle for Power Generation

Recent Testing of Industry-Changing Water Removal System Exceeds Expectations

WEST SPRINGFIELD, Mass. - (Feb. 12, 2024) - ESG Clean Energy, LLC (the "Company" or "ESG Clean Energy"), developers of power generation/carbon capture systems with a nearly Zero Carbon output, announced today that the results of recent testing of its patented water removal system at its active power generation site in Holyoke, MA, were consistent with and/or exceeded modeled forecasts and confirms, as anticipated by the Company, capturing carbon dioxide can now be achieved at a low cost and in an energy-efficient manner utilizing ESG Clean Energy's industry-changing technology.

"We have always believed that it is possible to remove carbon dioxide from fossil fuel generation emissions more efficiently and our belief has now been validated," said Nick Scuderi, president of ESG Clean Energy, LLC.

Mr. Scuderi continued, "It has been a long-time coming but we finally reached this important milestone and are now positioned to take next steps to commercialize this element of our broad patent portfolio globally, including through our licensees and joint venture partners. We believe our system solves the issues of equipment cost and energy needed to make carbon capture economically viable. Our innovations enable the design to be scaled up for large power plants or scaled down for small, distributed power facilities, and eventually the transportation industry."

ESG Clean Energy plans on implementing this technology across all its planned facilities and has licensed the technology to a subsidiary of Camber Energy (NYSE (Amex): CEI) for all of Canada and multiple locations in the United States.

ESG Clean Energy's System

ESG Clean Energy's system treats the exhaust stream to remove the water vapor before it is treated for capturing CO2. This patented system consists of an advanced ceramic membrane that has been incorporated into a unique mechanical cooling system. With this technology, capturing carbon dioxide becomes both low cost and energy efficient. It can be used on both large and small systems and can be retrofitted onto current operating power plants.

Dealing with Water Makes Other Carbon-Capture Systems Too Costly

Water gets in the exhaust steam because it is actually a byproduct of combustion. When fossil fuel burns it makes three things heat, carbon dioxide, and water. The problem is water molecules interfere with the carbon capture process. Several scientific studies have shown how water negatively affects CO2 capture.

[….]

About ESG Clean Energy, LLC

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About Camber Energy, Inc.

Forward-Looking Statements

Contact Information
Investors and Media:
Tel. 281.404.4387

SOURCE: Camber Energy, Inc.

View the original press release on accesswire.com

P.O. is for a VKIN-6000/A Unit intended for use by NHS Hospital in the U.K.

HOUSTON, TX / ACCESSWIRE / February 5, 2024 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company") is pleased to announce that Planeteq Limited ("Planeteq"), the exclusive distributor in the United Kingdom for Viking Ozone Technology, LLC's ("Viking Ozone") portfolio of patented waste treatment systems, issued a purchase order for a VKIN-6000/A Waste Treatment unit, which is designated for delivery to a hospital in the United Kingdom within the National Health Service Trust ("NHS").

James Doris, Camber's President & CEO, stated "We applaud the hospitals within the NHS that have already adopted comprehensive Green Plans identifying ozone as a solution to their current waste treatment challenges, and look forward to this particular Viking Ozone unit serving as a showcase to allow the other hospitals to learn more about the benefits of this advanced treatment system to facilitate broader use of the technology within the NHS network."

VKIN-Ozone vs. Others

About Viking Ozone

Viking Ozone offers a cleaner, safer and more sustainable alternative for waste treatment, and its system is a more environmentally friendly and cost-effective alternative to incineration, chemical treatment, autoclave and heat treatments for regulated medical waste and bio-hazardous waste. Viking Ozone's system is designed to reduce the amount of energy required to process waste, which conserves resources, lowers operating costs and reduces greenhouse gas emissions, resulting in a cleaner, safer environment. The modular design and low profile allow for multiple configurations and savings for civil work at the site. To learn more about Viking Ozone please visit https://vkin-ozone.com/.

Planeteq

The purchase order for the VKIN-6000/A unit was issued by Planeteq, the authorized distributor of Viking Ozone's proprietary ozone waste treatment systems in the United Kingdom, to Simson-Maxwell Ltd. ("Simson-Maxwell"), a majority-owned subsidiary of Viking Energy Group, Inc., which in turn is a wholly-owned subsidiary of Camber. Simson-Maxwell intends to ship the VKIN-6000/A unit to the United Kingdom in or about October, 2024 after which the unit will be subject to various mechanical, environmental and other testing and certification procedures, standards and requirements, as applicable. Planeteq's payment obligations with respect to the purchase of the unit are subject to the unit satisfying all such procedures, standards and requirements and there are no assurances of a positive outcome.

Planeteq, based in the United Kingdom, creates digital and sustainable technology products to respond to the economic, environmental and social challenges facing the world today. The company helps businesses join the global movement to reduce waste and drive energy efficiency, and Planeteq's mission is to influence the way businesses, local authorities and governments view sustainability by demonstrating that being part of the circular economy is not only profitable, but necessary, as the world heads ‘Towards Net Zero'. Planeteq is an approved vendor within the NHS, and there are approximately 1,000 hospitals under management within the NHS.

AboutCamber Energy, Inc.

Camber Energy, Inc. is a growth-oriented diversified energy company. Through its wholly-owned subsidiary, Viking Energy Group, Inc. ("Viking"), Camber: (i) provides custom energy & power solutions to commercial and industrial clients in North America; (ii) holds an exclusive license in Canada to a patented carbon-capture system; and (iii) has a majority interest in: (a) an entity with intellectual property rights to a fully developed, patented, ready-for-market proprietary Medical & Bio-Hazard Waste Treatment system using Ozone Technology; and (b) entities with the intellectual property rights to fully developed, patent pending, ready-for-market proprietary Electric Transmission and Distribution Open Conductor Detection Systems. For more information, please visit the company's website at www.camber.energy.

Forward-Looking Statements

This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Any statements that are not historical facts contained in this press release are "forward-looking statements", which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the oil and gas industry, the COVID-19 pandemic, the performance of management, actions of government regulators, vendors, and suppliers, our cash flows and ability to obtain financing, competition, general economic conditions and other factors that are detailed in Camber's filings with the Securities and Exchange Commission. Further examples of such risks and uncertainties include but are not limited to: (i) whether all terms and conditions of the purchase order will be met by the parties and whether the purchase order will result in the eventual delivery of the VKIN-6000/A Unit or realize revenue for the Company; (ii) whether the delivery of the VKIN-6000/A unit will materialize within the slated timeline; (iii) the ability of Camber or any of its subsidiaries to maintain existing, and secure additional, contracts with manufacturers, parts and other service providers relating to its business; (iv) unanticipated operating costs, transaction costs and actual or contingent liabilities; and (v) changes in government licensing and regulation that may adversely affect the business of Camber and/or its subsidiaries.

We intend that all forward-looking statements be subject to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995.

Contact Information
Investors and Media:
Tel. 281.404.4387

SOURCE: Camber Energy, Inc.

View the original press release on accesswire.com