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Camber Energy (OTCQB:CEIN) has announced the addition of a new patent to its Wildfire Mitigation Technology Portfolio. The patent, titled 'End of Line Protection with Blocking', was issued by the USPTO on October 8, 2024, to the company's majority-owned subsidiary, Viking Sentinel Technology, This patent is part of Camber's Broken Conductor Protection technologies, designed to assist utility companies with wildfire mitigation, public safety, and grid resiliency initiatives.
The technology aims to address the public safety risks posed by broken electrical conductors, including the potential for human contact and wildfire ignition due to arcing. Camber's Broken Conductor Protection technology is intended to be integrated into existing grid protection systems, enhancing resiliency, reliability, and public safety while reducing fire risks.
Camber Energy (OTCQB:CEIN) has strengthened its wildfire mitigation technology portfolio with a new patent and a Notice of Allowance for an additional patent. The company's Broken Conductor Protection technologies are designed to assist utility companies in wildfire mitigation, public safety, and grid resiliency initiatives. The technology detects broken conductors and de-energizes power lines before they touch the ground, reducing safety hazards and wildfire risks.
The new patent, U.S. Patent No. 12,074,424, titled 'End of Line Protection with Trip Signal Engaging,' was issued on August 27, 2024. A Notice of Allowance was also received for patent application No. 17/628,545, 'End of Line Protection with Blocking.' These additions complement Camber's existing portfolio of patents in this field, aiming to improve grid protection systems and eliminate the need for Public Safety Power Shutdown Programs.
Camber Energy (OTCQB:CEIN) provides a shareholder update, highlighting key developments:
1. OTCQB Upgrade: Effective August 27, 2024, CEIN stock approved for OTCQB Venture Market quotation.
2. NYSE American Delisting: Company disagrees with NYSE's decision, opting for OTCQB to limit exposure to market volatility.
3. Financial Performance: Q2 2024 revenue at $9.22 million, up 19.66% from Q1 2024's $8.29 million.
4. Business Portfolio: Includes Simson-Maxwell (power solutions), Broken Conductor Protection (wildfire risk reduction), ESG Clean Energy System (carbon-capture technology), and Viking Ozone Technology (waste treatment).
The company emphasizes its focus on executing growth strategy and improving in all controllable areas.
Camber Energy (OTC:PK:CEIN) reported significant revenue growth in Q2 2024, with revenues reaching $9.92 million. This marks a substantial increase compared to previous years' Q2 results. The company's revenue primarily stems from its power solutions business, including design, sale, and service of power generation units and systems.
Comparing Q2 2024 to Q1 2024, Camber Energy saw a 19.66% increase in revenue, rising from $8.29 million to $9.22 million. This growth trajectory demonstrates the company's expanding market presence and operational success in the power solutions sector.
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