Camber Energy Receives Notice of Allowance for Additional Patent in Portfolio of Wildfire Mitigation Technologies
Camber Energy (NYSE American: CEI) announced it has received a Notice of Allowance from the USPTO for a new patent application titled 'End of Line Protection with Trip Signal Engaging' expected to be issued soon. The patent, which enhances wildfire mitigation technologies, involves unique sensing methods to prevent premature power restoration and related hazards such as electrocution and fire during distribution line faults. This technology is owned by Viking Sentinel Technology, a subsidiary of Camber's Viking Energy Group. Camber's portfolio aims to improve grid reliability, reduce fire risks, and potentially eliminate Public Safety Power Shutdown Programs.
- Camber Energy received a Notice of Allowance from USPTO for a new patent, indicating future strengthening of its I.P. portfolio.
- The new patent focuses on enhancing wildfire mitigation technologies, a critical and growing market.
- Technology owned by Camber's subsidiaries aims to improve grid reliability and safety, potentially reducing the need for Public Safety Power Shutdown Programs.
- The new patent may help in significantly reducing risks of fires and improving public safety, which can lead to potential market adoption and revenue growth.
- There is no specific timeline for when the patent will be officially issued, causing uncertainty.
- The announcement lacks financial data or projections related to the commercial impact of the new patent on Camber's revenue.
- Potential future expenses related to developing and integrating this technology into existing systems are not discussed.
Insights
Camber Energy's new patent for their wildfire mitigation technology brings a significant development in the field of power distribution safety. This technology, which prevents premature restoration of power lines, addresses a critical safety issue. Traditional systems often depend on overcurrent conditions to reset circuit breakers, which in turn may cause live wire hazards. By using multiple sensors and trip signals, Camber's system ensures that power restoration only occurs under safe conditions.
This technological advancement goes beyond simply improving grid reliability—it reduces risks of electrocution, fires and equipment damage. This could potentially lead to wider adoption of Camber's technology across power utilities, influencing both short-term revenue through sales and long-term through service contracts. Investors should note that while the technology promises substantial safety improvements, the key to its success will be market adoption. For now, the patent strengthens Camber's intellectual property portfolio, providing a competitive edge in wildfire mitigation solutions.
From a financial perspective, the notice of allowance for Camber Energy's new patent is a positive development. Intellectual property is a valuable asset and strengthens the company’s competitive position. This patent could lead to new revenue streams, either through direct sales or licensing arrangements, which would diversify Camber's revenue base and reduce dependence on any single product line.
Investors should keep an eye on how quickly and effectively Camber can bring this technology to market. The immediate financial impact might be limited as it takes time to commercialize new technology and secure contracts. However, in the long term, successful adoption could significantly boost the company’s financial performance. Additionally, the patent might attract strategic partnerships or even acquisition interest from larger players in the energy sector.
CEI Continues to Expand & Strengthen its I.P. Platform
HOUSTON, TX / ACCESSWIRE / June 3, 2024 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company"), today announced receipt of a Notice of Allowance from the United States Patent & Trademark Office ("USPTO") for patent application No. 17/300,485 titled "End of Line Protection with Trip Signal Engaging", which is expected to be issued in the coming weeks and is in addition to the patents previously announced by the Company within its portfolio of wildfire mitigation technologies.
New Pending Patent
This prospective patent relates to ‘end of line' for distribution line protection, using trip signal engagement and unique sensing methods. Conventionally, when distribution lines incur faults, the faults are detected and power is shut down based on overcurrent condition detection. There are automated mechanisms for resetting tripped circuit breakers to restore power that have historically relied only on those overcurrent conditions. When downed lines are inadvertently grounded, restoration of power (automatic resetting of the breakers) can cause live wire hazards, such as electrocution, fire, equipment damage, etc. Camber's patented technology is designed to prevent premature restoration and eliminate related hazards given its use of end of line multiple sensors and trip signals that prevent restoration (resetting of breakers) until abnormal conditions have been resolved. The pending patent will be issued to Viking Sentinel Technology, LLC, a majority-owned subsidiary of Camber's wholly-owned subsidiary, Viking Energy Group, Inc.
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 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.
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FAQ
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