Camber Energy Receives Purchase Order for VKIN-Ozone Patented Waste Treatment System
- None.
- None.
The announcement by Camber Energy regarding the purchase order for a VKIN-300 Waste Treatment system represents a strategic business development that could potentially influence the company's market position. The waste management industry, particularly medical waste treatment, is expanding significantly, with a projected compound annual growth rate (CAGR) of 7.2% through 2032. The integration of Viking Ozone's technology into this sector could open up new revenue streams for Camber Energy, especially if the technology sets a new industry standard for regulated medical waste treatment.
Given the current valuation of the medical waste industry at approximately $14 billion, the adoption of Viking Ozone's system by a reputable waste-processing company in France serves as a testament to the system's perceived superiority in the market. This could enhance Camber Energy's reputation as an innovator in waste treatment solutions, potentially increasing investor confidence and driving stock value. However, investors should monitor the execution of Camber's commercialization strategy and the subsequent market adoption rate of the VKIN-300 units.
The VKIN-300 Waste Treatment system by Viking Ozone represents a significant advancement in environmental technology, particularly within the realm of medical waste management. The system's design, which presumably utilizes ozone for waste treatment, suggests a potential for not only reducing the environmental impact of medical waste but also improving safety and efficiency in its processing.
With environmental regulations becoming increasingly stringent, technologies that can offer superior treatment solutions while also complying with regulatory standards are likely to gain traction. The long-term implications for stakeholders include not only the environmental benefits but also the potential for cost savings through more efficient waste processing and reduced liability. However, the scalability of the technology and its adaptability to different regulatory environments will be critical factors in determining its ultimate impact on the market.
The financial implications of Camber Energy's announcement are multifaceted. On one hand, the purchase order from BOX 03 International S.A. indicates immediate revenue generation from the sale of the VKIN-300 unit. On the other hand, the broader financial impact will depend on the system's market penetration and the frequency of subsequent orders. The company's investment in infrastructure, technical team enhancements and relationship building in key markets are upfront costs that need to be balanced against the expected income from sales of the ozone technology.
Investors should consider the potential return on investment from Camber's expansion into the waste treatment market, particularly given the industry's growth projections. While the initial purchase order is a positive indicator, the long-term success will hinge on the technology's acceptance and the company's ability to maintain a competitive edge. It is also essential to scrutinize the company's ability to deliver on its promises of timely delivery, commissioning, certification and after-sales support, as these factors will influence customer satisfaction and the likelihood of repeat business.
P.O. is for a VKIN-300 Unit intended for use by Waste-Processing Company in France
HOUSTON, TX / ACCESSWIRE / January 30, 2024 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company") is pleased to announce that BOX 03 International S.A. ("BOX 03") issued a purchase order for a VKIN-300 Waste Treatment system designed by Camber's majority-owned subsidiary, Viking Ozone Technology, LLC ("Viking Ozone").
The VKIN-300 unit is intended for use by one of BOX 03's existing clients, a waste management company based in France that has been active in collecting, managing and treating waste from healthcare facilities for over twenty-five years.
James Doris, Camber's President & CEO, stated "We have spent several months putting the appropriate infrastructure in place to successfully execute our commercialization strategy for this revolutionary technology, including expanding Viking Ozone's portfolio of waste treatment units, enhancing our technical team, formalizing relationships with reputable organizations in key markets, and establishing an appropriate framework and methods to ensure timely delivery, commissioning, certification and after-sales support. BOX 03 is an organization with intimate knowledge of the challenges waste-processing companies face in the current environment, and their issuance of this particular order evidences their belief that the Viking Ozone system is the most superior product available in the market. We believe our ozone technology will ultimately become the standard treatment system for regulated medical waste, and anticipate more orders from BOX 03 and other distributors in the near future."
The medical waste industry is currently valued at
About the VKIN-300
The VKIN-300 unit is one of many in the Viking Ozone portfolio of waste-processing systems.
About Viking Ozone
Viking Ozone offers a cleaner, safer and more sustainable alternative for waste treatment, and its system is a more environmentally friendly and cost-effective alternative to incineration, chemical treatment, autoclave and heat treatments for regulated medical waste and bio-hazardous waste. Viking Ozone's system is designed to reduce the amount of energy required to process waste, which conserves resources, lowers operating costs and reduces greenhouse gas emissions, resulting in a cleaner, safer environment. The modular design and low profile allow for multiple configurations and savings for civil work at the site. To learn more about Viking Ozone please visit https://vkin-ozone.com/.
BOX 03
The purchase order for the VKIN-300 unit was issued by BOX 03 International S.A., the authorized distributor of Viking Ozone's proprietary ozone waste treatment systems in Switzerland, France, Italy, Germany, and French speaking countries of West Africa, to Simson-Maxwell Ltd. ("Simson-Maxwell"), a majority-owned subsidiary of Viking Energy Group, Inc., which in turn is a wholly-owned subsidiary of Camber. Simson-Maxwell intends to ship the VKIN-300 unit to France in or about April, 2023 after which the unit will be subject to various mechanical, environmental and other testing and certification procedures, standards and requirements, as applicable. BOX 03's payment obligations with respect to the purchase of the VKIN-300 unit are subject to the unit satisfying all such procedures, standards and requirements and there are no assurances of a positive outcome. BOX 03 provides consultancy and project management services to various end-users of waste treatment systems, with particular emphasis on advising and supporting globally-recognized companies engaged in the business of treating and disposing of medical waste in Europe and abroad.
About Camber Energy, Inc.
Camber Energy, Inc. is a growth-oriented diversified energy company. Through its wholly-owned subsidiary, Viking Energy Group, Inc. ("Viking"), 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. Further examples of such risks and uncertainties include but are not limited to: (i) whether all terms and conditions of the purchase order will be met by the parties and whether the purchase order will result in the eventual delivery of the VKIN-300 Unit or realize revenue for the Company; (ii) whether the delivery of the VKIN-300 unit will materialize within the slated timeline; (iii) the ability of Camber or any of its subsidiaries to maintain existing, and secure additional, contracts with manufacturers, parts and other service providers relating to its business; (iv) unanticipated operating costs, transaction costs and actual or contingent liabilities; and (v) changes in government licensing and regulation that may adversely affect the business of Camber and/or its subsidiaries.
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 is the purchase order for?
Who issued the purchase order?
Where is the waste treatment system intended for use?
What is the expected growth rate of the medical waste industry?
