Camber Energy Announces Milestone Test Results for Wildfire Mitigation Technology
Camber Energy announced successful test results for its Broken Conductor Protection Technology, aimed at wildfire mitigation. Independent testing coordinated by Bridge View Resources demonstrated the technology's effectiveness in de-energizing broken conductors, preventing them from causing fires. The testing involved over fifty simulations at a nationally-recognized lab, confirming the technology's reliability. The technology is expected to help reduce wildfire-related economic burdens, which cost the U.S. between $394 billion and $893 billion annually, and enhance public safety. Camber's patented technology is designed to integrate with existing grid systems, improving overall resiliency and reliability.
- Successful completion of independent testing for wildfire mitigation technology.
- Technology demonstrated reliability in over fifty simulations.
- Potential to reduce U.S. wildfire economic burden, costing between $394 billion and $893 billion annually.
- Technology enhances public safety by preventing ignition sources.
- Patented technology can integrate with existing grid systems, improving resiliency and reliability.
- None.
Insights
The milestone test results for Camber Energy's Broken Conductor Protection Technology are significant for the electrical grid. This technology's ability to de-energize a broken conductor before it contacts the ground effectively mitigates wildfire risks caused by electrical systems. This is particularly important considering that electrical lines are a known ignition source for wildfires, which can lead to extensive economic damage and loss of life.
The comprehensive testing, performed by a reputable engineering firm, enhances the credibility of these claims. Real-time digital simulations using different voltage levels indicate robust reliability and effectiveness. The successful conclusion of these tests will likely ease the adoption of this technology by utility companies, municipalities and rural cooperatives.
From a technical standpoint, integrating this technology into existing grid protection systems can significantly enhance grid resiliency and safety, which are top priorities for modern electrical infrastructure. Moreover, it can potentially eliminate the need for Public Safety Power Shutdown Programs, which are disruptive and costly.
The market for such technology is substantial, as the economic burden of wildfires is estimated to be between
The news about Camber Energy's Broken Conductor Protection Technology reaching a critical testing milestone is promising for investors. The technology addresses a pressing issue—the substantial economic and human toll of wildfires. The market potential is immense, given the annual economic burden of wildfires ranges between
Strategically, this positions Camber Energy as a key player in the wildfire mitigation technology sector. The successful tests help establish the product's market viability, making it more attractive to potential buyers such as investor-owned utilities and municipalities. Additionally, the patent protection around this technology strengthens Camber's competitive edge, reducing the risk of imitation by competitors.
This milestone also signals upcoming advancements in commercialization strategies. Potential deals or partnerships, guided by testing partner Bridge View Resources, LLC, could enhance Camber's revenue streams and market presence. Investors should watch for further developments, including pilot projects and initial sales contracts, which will provide more concrete financial projections.
HOUSTON, TX / ACCESSWIRE / June 24, 2024 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company"), today announced the successful conclusion of critical independent testing of its Broken Conductor Protection Technology for Electric Transmission Systems.
The comprehensive testing, which included over fifty real-time-digital-simulations of broken conductors using varying voltage levels at different points of a transmission line, demonstrated the reliability and effectiveness of Camber's technology in de-energizing a broken conductor before it contacts the ground or a grounded structure, thereby preventing the conductor from being a source of ignition or a danger to life and property.
This testing was coordinated by Bridge View Resources, LLC ("BVR") and conducted at a laboratory of a nationally-recognized engineering firm that specializes in complex and diverse electrical transmission and distribution projects for investor-owned utilities, municipalities, rural cooperatives, and industrial clients.
Steven A. Greenberg, President of BVR, commented "The test results confirm the efficacy of this patented technology, as expected. We are extremely pleased to be working with Camber's team on key elements of the commercialization strategy for this industry-changing product."
Cost of Wildfires
According to the JEC Democratic Majority's analysis published in October, 2023, the total annual economic burden of wildfires in the United States is between
Patents in CEI's Wildfire Mitigation Portfolio
Technology owned by majority-owned subsidiaries of Camber 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.
About Bridge View Resources, LLC
BVR specializes in, among other things, upgrading and modernizing utility infrastructure and systems, and its founder, Steven Greenberg, has experience in implementing strategies, systems and solutions for sustainable facilities, products and services for energy infrastructure. Steven is a member of ASHRAE and previously served in board and/or executive committee positions for the California Alliance for Distributed Energy Resources, the Distributed Power Coalition of America, and the US Combined Heat and Power Association. He earned a Bachelor of Science in Business Administration from California Polytechnic Institute.
About Camber Energy, Inc.
Camber Energy, Inc. is a growth-oriented diversified energy company. Through its wholly-owned subsidiary 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 clean energy and 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 patented and patent-pending proprietary Electric Transmission and Distribution Broken Conductor Protection 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
FAQ
What did Camber Energy announce on June 24, 2024?
What is the purpose of Camber Energy's Broken Conductor Protection Technology?
How extensive was the testing for Camber Energy's wildfire mitigation technology?
What are the potential economic benefits of Camber Energy's technology?
How does Camber Energy's technology integrate with existing systems?
