Camber Energy’s Subsidiary Files New Patent Application

Rhea-AI Summary

Camber Energy, Inc. (NYSE American: CEI) disclosed that its subsidiary, Viking Energy Group, filed a patent application on August 23, 2022, for innovative electric transmission line protection technology. This system aims to mitigate ground faults caused by line breakage, addressing the dangers and economic losses from electrical fires. Unlike existing systems that react after a fault occurs, Viking's technology aims to shut down power proactively, preventing potential disasters. This patent application is a continuation of prior filings and emphasizes rapid response capabilities.

Positive

• New patent application for advanced electric transmission line protection technology.
• Proactive system aims to prevent ground faults before damage occurs.
• Addressing significant public safety and economic concerns related to electrical fires.

Negative

• None.

HOUSTON, TX / ACCESSWIRE / August 29, 2022 / Camber Energy, Inc.'s, (NYSE American:CEI) ("Camber" or the "Company") majority-owned subsidiary, Viking Energy Group, Inc. ("Viking"), announced today that Viking's majority-owned subsidiary, Viking Protection Systems, LLC ("Viking Protection"), filed on August 23, 2022 a new patent application in the United States Patent & Trademark Office relating to its electric transmission line protection technology. The patent application is a continuation of previous filings and covers systems for preventing ground faults in existing three phase electric transmission lines caused by line breakage (open conductor). Fires caused by line breaks have caused injury, death and billions of dollars in damage to public and private property, to forests and to wildlife. Existing systems shut down the power on broken lines after the broken lines have contacted the ground (structures or natural earth) and therefore do not always prevent faults that can cause disastrous damage.

Viking Protection's rapid pro-active systems are designed to terminate (shut-off) the power before the broken line(s) makes any contact with the ground (structures or natural earth), the aim being to prevent an incendiary event or other disaster.

This new patent application is specific to systems that utilize Viking's high sensitivity parameter detection that reacts within fractions of a second to shut down broken lines before ground contact can occur.

About Camber Energy, Inc.

Camber Energy, Inc. is a growth-oriented diversified energy company. Through its majority-owned subsidiary, Camber provides custom energy & power solutions to commercial and industrial clients in North America and owns interests in oil and natural gas assets in the United States. The company's majority-owned subsidiary also holds an exclusive license in Canada to a patented carbon-capture system, and has a majority interest in: (i) an entity with intellectual property rights to a fully developed, patent pending, ready-for-market proprietary Medical & Bio-Hazard Waste Treatment system using Ozone Technology; and (ii) 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.

Contact Information
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Tel. 281.404.4387 (ext.3)

SOURCE: Camber Energy, Inc.

View source version on accesswire.com:
https://www.accesswire.com/713774/Camber-Energys-Subsidiary-Files-New-Patent-Application

FAQ

What is the significance of Camber Energy's new patent application dated August 23, 2022?

The patent application aims to enhance electrical transmission line safety by preventing ground faults before damage occurs.

How does Viking Protection's technology differ from existing systems?

Viking Protection's technology proactively shuts down power before broken lines contact the ground, unlike existing systems that react afterwards.

What company is filing the patent application related to electric transmission line protection?

The patent application is filed by Viking Energy Group, a subsidiary of Camber Energy, Inc.

What are the potential benefits of the newly filed patent for Camber Energy?

The patent could enhance public safety, potentially reduce damages from electrical fires, and create new market opportunities.