Investor Relations
HOUSTON, TX / ACCESSWIRE / May 28, 2024 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company") is pleased to announce receipt of an ∼$3.8 million (CDN) purchase order for a three and one half megawatt customized secondary power system, features of which include:
The purchase order was received by Simson-Maxwell Ltd., Camber's majority-owned subsidiary, and the unit is expected to be ready for shipment to Iqaluit, the capital city of Nunavut, the largest and northernmost Territory of Canada, in early 2025. The secondary power system is similar in design and functionality to the previously disclosed 3.5 MW system that was designed, assembled and delivered by Simson-Maxwell Ltd. to Iqaluit in the fall of 2023.
About Simson-Maxwell Ltd.
Simson-Maxwell Ltd., a majority owned subsidiary of Camber, 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 multiple branch locations 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.
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Tel. 281.404.4387
SOURCE: Camber Energy, Inc.
View the original press release on accesswire.com
Historical Q-1 Revenue Comparison Highlights Growth Following Merger
HOUSTON, TX / ACCESSWIRE / May 13, 2024 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company") filed on May 10, 2024 its quarterly report on Form 10-Q for the quarter ended 3/31/2024, and is pleased to share a comparison of revenues reported in Q-1 2024 versus revenues reported by the Company in Q-1 for the preceding few years, demonstrating growth following the closing of CEI's merger with Viking Energy Group, Inc.
Q-1 Revenue Comparison:
| CEI - Q1 Reported Revenue Comparison | |||||||||||||||||
| 3-month period ended 3/31/2021 | 3-month period ended 3/31/2022 | 3-month period ended 3/31/2023 | 3-month period ended 3/31/2024 | ||||||||||||||
|
Revenue
|
$ | 33,689 | $ | 136,407 | $ | 93,471 | $ | 8,292,532 | |||||||||
Revenues for Q-1 2024 were derived primarily from the Company's power solutions' business, including from the design, sale and/or service of power generation units and systems.
Other Q-1 Highlights:
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 patented, ready-for-market proprietary Medical & Bio-Hazard Waste Treatment system using Ozone Technology; and (b) entities with the intellectual property rights to patented and 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.
SEC Reports
All figures referenced herein are approximate and all descriptions above are qualified in their entirety by Camber's filings with the Securities and Exchange Commission ("SEC") including, without limitation, Camber's Quarterly Report on Form 10-Q filed on May 10, 2024 with the SEC (the "10-Q") and available under "Investors -- SEC Filings" at www.camber.energy. The prior period comparative financial information in the 10-Q is, as noted therein, that of Viking Energy Group, Inc. ("Viking"), a wholly-owned subsidiary of Camber as a result of the Merger involving Camber and Viking that closed on or about August 1, 2023.
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'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
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
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:
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
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
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.
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
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
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.
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
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
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.
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
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 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:
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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.
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
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
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
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