Camber Energy Announces Patented Technology More than Doubles CO2-Capture Rate
Camber Energy announced that ESG Clean Energy's carbon capture prototype, installed at their facility in Holyoke, MA, has successfully doubled the CO2-capture rate per pound of adsorbent using their patented water removal technology. This breakthrough could significantly reduce the size and cost of carbon capture systems, making them more feasible and economical. The technology involves an advanced ceramic membrane in a unique cooling system and has been licensed exclusively to Camber Energy's subsidiary for Canada and multiple U.S. locations. Camber's CEO, James Doris, expressed satisfaction with the milestone, highlighting its importance for future commercialization and monetization strategies.
- ESG's patented technology doubles CO2 capture rate per pound of adsorbent.
- Reduced size and cost of carbon capture systems, making them more economical and easier to implement.
- Exclusive licensing of the technology to Camber Energy's subsidiary for Canada and multiple U.S. locations.
- Successful installation and testing of the carbon capture prototype at a 4.4MW plant serving the local electrical grid.
- None.
Insights
The recent advancement in CO2-capture technology, as highlighted by Camber Energy, represents a significant stride in the clean energy sector. The fact that ESG's patented water removal technology can double the carbon capture efficiency per pound of adsorbent is noteworthy. This has potential to dramatically reduce both the size and cost of carbon capture systems, making them more viable for widespread adoption.
This development is particularly relevant in the context of increasing regulatory pressures and global initiatives aimed at reducing carbon emissions. For Camber Energy, the exclusive licensing of this technology in Canada and multiple US locations places them strategically in a market poised for substantial growth.
In the long term, this could mean enhanced revenue streams and stronger positioning within the clean energy sector. For short-term investors, the finalization and implementation of commercialization initiatives will be key milestones to watch. The potential for this technology to be retrofitted onto existing power plants further broadens its applicability and market potential.
From a financial perspective, the doubling of CO2-capture efficiency heralds potential cost savings and improved margins for projects utilizing this technology. By reducing the necessary size and cost of carbon capture systems, ESG's technology could significantly lower capital and operational expenditures, enhancing overall profitability.
For investors, this advancement could translate into improved financial performance for Camber Energy, particularly as they move towards commercialization and monetization of the technology. It’s important to note, however, that the actual financial impact will depend on the speed and scale of implementation, as well as market adoption rates.
Retail investors should monitor Camber's upcoming financial reports and commercialization timelines for more concrete data. The potential for revenue growth is significant, but it comes with the usual risks associated with new technology adoption and market penetration.
ESG's breakthrough in carbon capture technology holds substantial environmental implications. Doubling the CO2-capture rate per pound of adsorbent could considerably enhance the efficiency of carbon capture initiatives, thereby making significant contributions towards mitigating global warming and achieving sustainability targets.
The ability to retrofit existing power plants with this technology is particularly advantageous, as it offers a path to reduce emissions from currently operational facilities without the need for complete overhauls or replacements. This aspect of the technology not only promises environmental benefits but also economic feasibility, making it attractive to a broader range of industries.
As governments and corporations around the globe intensify their efforts to combat climate change, this technology could become an indispensable tool, thereby driving demand and fostering broader industry adoption. For investors, understanding the environmental impact and regulatory landscape will be important in assessing the long-term viability and potential of Camber Energy's strategic positioning.
ESG's CO2-Capture Prototype Finally Installed and Tested at Site in Holyoke, MA
HOUSTON, TX / ACCESSWIRE / July 2, 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 test results of the recently installed carbon-capture prototype at ESG's facility in Holyoke, MA indicate ESG's patented water removal technology enables at least twice as much carbon to be captured per pound of adsorbent.
This is an industry-changing outcome as it will significantly reduce the size and cost of carbon capture systems, making them much easier and economical to implement, according to ESG. Camber's wholly-owned subsidiary has licensed the intellectual property associated with ESG's clean energy & carbon-capture system for exclusive use in Canada and for multiple locations in the U.S.
"These results represent another significant milestone in the development and commercialization of our clean energy system. We were confident we would see these numbers, but it is nice to have them validated with data from an operational unit and finally see the proof in our design," said Nick Scuderi, President of ESG Clean Energy, LLC.
James Doris, President & CEO of Camber, commented "We have been waiting a long time for this moment but are very pleased ESG's team has finally completed this critical milestone. Our technical and marketing teams can now begin to analyze applicable data and work towards finalizing and implementing important commercialization and monetization initiatives."
ESG's Recent Announcement
Regarding the test results of its carbon-capture prototype and its patented water removal system, on July 2, 2024 ESG issued a press release which stated, in part:
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ESG Clean Energy's Patented Technology More than Doubles CO2-Capture Rate!
CO2-Capture Prototype Finally Installed and Tested at ESG's Active Site in Holyoke, MA
WEST SPRINGFIELD, Mass. - (July 2, 2024) - ESG Clean Energy, LLC ("ESG"), developers of power generation/carbon capture systems with a nearly Zero Carbon output, announced today that ongoing testing results at its facility in Holyoke, MA indicate the company's patented water removal technology enables at least twice as much carbon to be captured per pound of adsorbent, which is an industry-changing outcome.
[…]
Following the previously disclosed installation and testing of its water removal system, ESG assembled and commenced testing of its carbon capture prototype, using zeolite (a common adsorbent material for capturing CO2), and recent analyses show that water removal increased carbon capture by
ESG Clean Energy's enabling technology is its patented water removal system which consists of an advanced ceramic membrane incorporated into a unique mechanical cooling system. It is designed to be used on large and small systems and can be retrofitted onto current operating power plants.
Testing was conducted at ESG's 4.4MW gas-powered power generation plant in Holyoke that serves the local electrical grid.
ESG 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.
[…]
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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
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