RETRANSMISSION: Camber Energy Announces Patented Technology More than Doubles CO2-Capture Rate
Camber Energy announced a significant development in CO2 capture technology through its subsidiary ESG Clean Energy. The newly tested carbon capture prototype at ESG's facility in Holyoke, MA, demonstrates that its patented water removal system more than doubles the CO2 capture rate per pound of adsorbent. This breakthrough is expected to reduce the size and cost of carbon capture systems, making them more practical and economical to implement.
James Doris, President & CEO of Camber, expressed satisfaction with the milestone, emphasizing its potential for commercialization and monetization. The technology, incorporating advanced ceramic membranes and mechanical cooling, is designed for both large and small systems and can be retrofitted to existing power plants. Camber Energy holds exclusive licensing rights for this technology in Canada and multiple U.S. locations.
- Patented water removal technology doubles CO2 capture rate per pound of adsorbent.
- Reduces size and cost of carbon capture systems, making them more economical.
- Exclusive licensing rights for Canada and multiple U.S. locations secured by Camber Energy.
- None.
Insights
The recent announcement from Camber Energy regarding its CO2-capture technology presents significant advancements in the field of carbon capture and storage. The patented water removal system, which allows for twice the amount of carbon to be captured per pound of adsorbent, addresses a key bottleneck in the carbon capture process: efficiency.
This breakthrough could potentially reduce the size and cost of carbon capture systems, making them more viable for widespread adoption. For investors, this is a noteworthy development because it can accelerate the commercialization and deployment of carbon capture technologies. Importantly, it can also enhance Camber Energy's position in the market by offering a competitive advantage over other carbon capture solutions.
The ability to retrofit this technology onto existing power plants is particularly advantageous, as it provides an immediate market opportunity without the need for constructing new facilities. This compatibility with existing infrastructure can expedite the adoption process, translating into quicker revenue streams for the company and its stakeholders.
From an environmental perspective, improved carbon capture technology aligns well with global efforts to reduce greenhouse gas emissions. Companies with robust environmental, social and governance (ESG) initiatives are increasingly attractive to investors, especially those focused on sustainable and responsible investment practices.
The financial implications of Camber Energy's announcement could be substantial. By doubling the CO2 capture rate, the technology not only promises cost savings but also increases the marketability of their carbon capture systems. Lower operational costs and reduced system sizes mean capital expenditures for clients will decrease, potentially widening the customer base and driving sales growth.
The exclusive licensing of this technology to Camber's subsidiary for use in Canada and multiple U.S. locations suggests a strategic move to capture significant market share. Licensing agreements can provide a steady revenue stream with relatively low operational risk. Moreover, commercialization efforts backed by these promising test results might attract strategic partnerships or additional funding, improving the company's overall financial health.
It's worth noting that Camber Energy operates in a diversified energy sector, which could help mitigate risks associated with market fluctuations in any single energy segment. However, investors should keep an eye on the company’s financial statements and future earnings reports to assess how these technological advancements translate into actual financial performance.
The market dynamics for carbon capture technologies are evolving rapidly, with increasing regulatory pressures and social demand for sustainable practices. Camber Energy's technological breakthrough, which significantly enhances CO2 capture efficiency, positions the company to capitalize on this growing market.
Market research indicates a rising trend in investments directed toward green technologies and carbon reduction solutions. As governments globally enforce stricter emissions regulations, industries will need efficient carbon capture technologies to comply. This provides a built-in market demand for Camber’s advanced systems.
Additionally, the ability to retrofit existing power plants with this technology opens up a broad market segment that seeks to upgrade their facilities without significant downtime or capital investment. The multipronged applicability—from small systems to large power plants—ensures a diversified customer base, reducing dependency on any single industry.
Investors should consider the broader market trends and regulatory environment when evaluating the potential impact of Camber Energy's innovation. The company's ability to leverage these trends will be critical in driving its market share and long-term growth.
ESG's CO2-Capture Prototype Finally Installed and Tested at Site in Holyoke, MA
HOUSTON, TX / ACCESSWIRE / July 8, 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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