Camber Energy Secures Exclusive IP License for Patented Carbon-Capture System

Rhea-AI Summary

Camber Energy (NYSE American:CEI) announced an exclusive intellectual property license agreement with ESG Clean Energy for its carbon capture technology. This system effectively captures approximately 100% of CO2 emissions from internal combustion engines. The license is exclusive in Canada and non-exclusive for 25 U.S. locations. The technology not only generates clean electricity but also produces valuable byproducts, like UREA and ethanol. CEO James Doris highlighted the firm’s commitment to reducing carbon footprints for commercial needs while adhering to ESG practices.

Positive

• Exclusive IP license with ESG Clean Energy will enhance Camber's market position.
• Technological potential to capture around 100% of CO2 emissions.
• Ability to produce saleable commodities from carbon capture process.

Negative

• Dependence on third-party technology could pose risks to implementation.
• Limited exclusive rights for only 25 U.S. locations may restrict potential market growth.

System Designed to Capture ⁓ 100% of CO2 & Produce Saleable Commodities

HOUSTON, TX / ACCESSWIRE / August 24, 2021 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company") is pleased to announce its majority-owned subsidiary, Viking Energy Group, Inc., entered into an Exclusive Intellectual Property License Agreement with ESG Clean Energy, LLC ("ESG") regarding ESG's patent rights and know-how related to stationary electric power generation, including methods to utilize heat and capture carbon dioxide (the "ESG Clean Energy System"). The license is exclusive for all of Canada (unlimited number of systems), and non-exclusive for up to twenty-five locations in the United States.

The ESG Clean Energy System is designed to generate clean electricity from internal combustion engines and utilize waste heat to capture ⁓ 100%of the carbon dioxide (CO2) emitted from the engine without loss of efficiency, and in a manner to facilitate the production of precious commodities (e.g. distilled/ de-ionized water; UREA (NH4); ammonia (NH3); ethanol; and methanol) for sale.

James Doris, President and Chief Executive Officer of Camber, commented, "In my view this transaction positions us as an industry leader in terms of being able to assist with the power generation needs of commercial and industrial organizations while at the same time helping them reduce their carbon footprint to satisfy regulatory requirements or to simply follow best ESG-practices. We are excited to be able to use the platform of Simson-Maxwell Ltd., our recently acquired majority-owned subsidiary, to promote the ESG Clean Energy System."

In addition to electrical power generation, the ESG Clean Energy System is designed to be utilized within a number of different environments, including:

• Plastics Recycling Operations
• Nitrogen Removal
• Microgrids
• Data Centers
• Crypto Mining Operations

Additional details regarding the transaction were included in Camber's Current Report on Form 8-K filed with the Securities and Exchange Commission ("SEC") on August 23, 2021, and is available under "investors" - "SEC filings" at www.camber.energy.

About Camber:

Based in Houston, Texas, Camber Energy, Inc. is a growth-oriented energy company. Through a majority-owned subsidiary, Camber owns interests in oil and natural gas assets in the United States, and provides custom energy solutions to commercial and industrial clients in North America. 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
Investors and Media:
Tel. 281.404.4387 (ext.3)

SOURCE: Camber Energy, Inc.

View source version on accesswire.com:
https://www.accesswire.com/661036/Camber-Energy-Secures-Exclusive-IP-License-for-Patented-Carbon-Capture-System

FAQ

What is the significance of Camber Energy's recent IP license agreement with ESG?

The agreement allows Camber to utilize ESG's carbon capture technology, positioning it as a leader in clean energy solutions.

How does the ESG Clean Energy System benefit Camber Energy?

It enables Camber to generate clean electricity and capture nearly all CO2 emissions, potentially creating saleable byproducts.

What are the potential risks associated with Camber's new technology?

The reliance on third-party technology could introduce risks, and the license's exclusivity is limited to certain locations in the U.S.

What products can be generated from the ESG Clean Energy System?

The system can produce distilled water, UREA, ammonia, ethanol, and methanol.

When was the IP license agreement between Camber and ESG announced?

The agreement was announced on August 24, 2021.