Camber Energy Announces Milestone Test Results for Wildfire Mitigation Technology

Rhea-AI Summary

Camber Energy announced successful test results for its Broken Conductor Protection Technology, aimed at wildfire mitigation. Independent testing coordinated by Bridge View Resources demonstrated the technology's effectiveness in de-energizing broken conductors, preventing them from causing fires. The testing involved over fifty simulations at a nationally-recognized lab, confirming the technology's reliability. The technology is expected to help reduce wildfire-related economic burdens, which cost the U.S. between $394 billion and $893 billion annually, and enhance public safety. Camber's patented technology is designed to integrate with existing grid systems, improving overall resiliency and reliability.

Positive

• Successful completion of independent testing for wildfire mitigation technology.
• Technology demonstrated reliability in over fifty simulations.
• Potential to reduce U.S. wildfire economic burden, costing between $394 billion and $893 billion annually.
• Technology enhances public safety by preventing ignition sources.
• Patented technology can integrate with existing grid systems, improving resiliency and reliability.

Negative

• None.

HOUSTON, TX / ACCESSWIRE / June 24, 2024 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company"), today announced the successful conclusion of critical independent testing of its Broken Conductor Protection Technology for Electric Transmission Systems.

The comprehensive testing, which included over fifty real-time-digital-simulations of broken conductors using varying voltage levels at different points of a transmission line, demonstrated the reliability and effectiveness of Camber's technology in de-energizing a broken conductor before it contacts the ground or a grounded structure, thereby preventing the conductor from being a source of ignition or a danger to life and property.

This testing was coordinated by Bridge View Resources, LLC ("BVR") and conducted at a laboratory of a nationally-recognized engineering firm that specializes in complex and diverse electrical transmission and distribution projects for investor-owned utilities, municipalities, rural cooperatives, and industrial clients.

Steven A. Greenberg, President of BVR, commented "The test results confirm the efficacy of this patented technology, as expected. We are extremely pleased to be working with Camber's team on key elements of the commercialization strategy for this industry-changing product."

Cost of Wildfires

According to the JEC Democratic Majority's analysis published in October, 2023, the total annual economic burden of wildfires in the United States is between $394 billion and $893 billion in damages annually, which is equivalent to between 2-4% of U.S. GDP. Solutions like Camber's broken conductor protection technology can assist with lowering this burden and, most importantly, increase public safety.

Patents in CEI's Wildfire Mitigation Portfolio

Technology owned by majority-owned subsidiaries of Camber is designed to be an integral component within existing grid protection systems, improving resiliency and reliability, eliminating the need for Public Safety Power Shutdown Programs, and significantly reducing the risk of fires and improving public safety.

About Bridge View Resources, LLC

BVR specializes in, among other things, upgrading and modernizing utility infrastructure and systems, and its founder, Steven Greenberg, has experience in implementing strategies, systems and solutions for sustainable facilities, products and services for energy infrastructure. Steven is a member of ASHRAE and previously served in board and/or executive committee positions for the California Alliance for Distributed Energy Resources, the Distributed Power Coalition of America, and the US Combined Heat and Power Association. He earned a Bachelor of Science in Business Administration from California Polytechnic Institute.

About Camber Energy, Inc.

Camber Energy, Inc. is a growth-oriented diversified energy company. Through its wholly-owned subsidiary 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 clean energy and 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 patented and patent-pending proprietary Electric Transmission and Distribution Broken Conductor Protection 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 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

FAQ

What did Camber Energy announce on June 24, 2024?

Camber Energy announced successful test results for its Broken Conductor Protection Technology aimed at wildfire mitigation.

What is the purpose of Camber Energy's Broken Conductor Protection Technology?

The technology aims to de-energize broken conductors to prevent them from causing fires, thereby enhancing public safety.

How extensive was the testing for Camber Energy's wildfire mitigation technology?

The testing included over fifty real-time-digital-simulations at a nationally-recognized lab.

What are the potential economic benefits of Camber Energy's technology?

The technology could help reduce the annual economic burden of wildfires in the U.S., which ranges between $394 billion and $893 billion.

How does Camber Energy's technology integrate with existing systems?

The patented technology is designed to be an integral component within existing grid protection systems, improving resiliency and reliability.