Viking Files New Patent Application

Rhea-AI Summary

Viking Protection Systems, a subsidiary of Viking Energy Group (OTCQB:VKIN), filed a new patent application on August 23, 2022, with the United States Patent & Trademark Office. This application enhances its electric transmission line protection technology, addressing ground faults caused by line breakage. Unlike existing systems that react after contact with the ground, Viking's technology proactively terminates power before contact, aiming to prevent severe damage and fires. The patent focuses on high sensitivity parameter detection that operates in fractions of a second.

Positive

• New patent application filed for advanced electric transmission line protection technology.
• Technology aims to prevent catastrophic fires and damage from line breakage by shutting off power proactively.
• High sensitivity parameter detection technology is a unique feature.

Negative

• None.

HOUSTON, TX / ACCESSWIRE / August 29, 2022 / Viking Protection Systems, LLC, a majority owned subsidiary of Viking Energy Group, Inc. (OTCQB:VKIN), is pleased to announce that it 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'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 Viking:

Based in Houston, Texas, Viking Energy Group, Inc. is a growth-oriented diversified energy company. Through various majority-owned subsidiaries, Viking 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 also holds an exclusive license in Canada to a patented carbon-capture system, and owns a majority interest in entities with intellectual property rights to a fully developed, patent pending, ready-for-market proprietary: (i) Medical & Bio-Hazard Waste Treatment system using Ozone Technology; and (ii) Open Conductor Detection systems. For more information, please visit the company's website at www.vikingenergygroup.com.

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 Viking'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: Viking Energy Group, Inc.

View source version on accesswire.com:
https://www.accesswire.com/713776/Viking-Files-New-Patent-Application

FAQ

What is the new patent application filed by Viking Energy Group?

Viking Energy Group filed a patent application for advanced electric transmission line protection technology, designed to prevent ground faults caused by line breakage.

When was the patent application submitted by Viking Energy Group?

The patent application was submitted on August 23, 2022.

What does Viking's new technology aim to prevent?

The new technology aims to prevent fires and damage from electric line breakages by shutting off power before ground contact occurs.

How does Viking's technology differ from existing systems?

Unlike existing systems that react after line breakage, Viking's system proactively terminates power before contact with the ground.

What is the stock symbol for Viking Energy Group?

The stock symbol for Viking Energy Group is VKIN.