Camber Energy, Inc Stock Price, News & Analysis

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 (NYSE American:CEI) has announced a significant milestone for its patented medical waste treatment technology. The company's VKIN-300 model, which uses ozone for waste treatment, has successfully demonstrated compliance with French Standard NFX 30-503-2, considered one of the world's strictest standards for waste decontamination equipment.

The tests were conducted in April 2024 at Camber's facility in Edmonton, Alberta, by EC-EFRES, a leading healthcare laboratory consulting firm. According to EC-EFRES, the VKIN-300 is the first large capacity 'Ozone' disinfection system to meet this standard.

This achievement is expected to expand Camber Energy's distribution opportunities in France, Europe, Africa, and other parts of the world. The company's distributor, BOX O3 International SA, plans to deliver the VKIN-300 unit to France for official certification and subsequent delivery to a waste-processing customer.

Camber Energy (NYSE American: CEI), a growth-oriented energy company, announced a proposed settlement of a stockholder derivative action.

On July 2, 2024, the U.S. District Court for the Southern District of Texas issued a preliminary approval order for the settlement of claims against individual defendants in Case No. 4:22-cv-02167. The final approval hearing is scheduled for September 12, 2024, at 2:00 p.m. at the U.S. District Court for the Southern District of Texas, Houston Division. In compliance with the order, the Stipulation of Settlement and a Notice of Proposed Settlement of Derivative Actions are posted on Camber's Investor's Overview section on their website (camber.energy).

Camber Energy (NYSE American:CEI) announced that ESG Clean Energy's carbon capture system has achieved 100% CO2 removal from fossil fuel power plant emissions. The patented system uses a two-step process: first removing water from the exhaust, then capturing CO2. This innovation enables zero-carbon power generation for any internal combustion engine, big or small.

Key points:

• Drying the exhaust more than doubles CO2-adsorbent capacity
• System reduces size and cost while capturing all carbon
• Camber's subsidiary has licensed the technology for use in Canada and multiple U.S. locations
• Testing conducted at ESG's 4.4MW gas-powered plant in Holyoke
• Technology applicable to both large and small systems, including retrofits and mobile applications

Camber Energy announced that ESG Clean Energy's carbon capture prototype, installed at their facility in Holyoke, MA, has successfully doubled the CO2-capture rate per pound of adsorbent using their patented water removal technology. This breakthrough could significantly reduce the size and cost of carbon capture systems, making them more feasible and economical. The technology involves an advanced ceramic membrane in a unique cooling system and has been licensed exclusively to Camber Energy's subsidiary for Canada and multiple U.S. locations. Camber's CEO, James Doris, expressed satisfaction with the milestone, highlighting its importance for future commercialization and monetization strategies.

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.

Camber Energy (NYSE American: CEI) has issued an open letter to shareholders highlighting significant achievements and plans post-merger. The company, now in a stronger position, has a diverse portfolio that includes majority stakes in Simson-Maxwell, Broken Conductor Protection, and ESG Clean Energy System, among others. Key achievements include a notable increase in revenue and stockholders' equity, with Q1 2024 equity at $20.2 million compared to a deficit of $19.5 million in Q1 2023. The merger has also driven revenue growth, particularly in the power solutions sector. Key objectives for 2024 include expanding the power solutions business, advancing commercialization of existing technologies, and exploring synergistic growth opportunities.

Camber Energy has launched a pilot program with Western Canada's largest telecom provider to install, service, and test a new Hybrid Generator system using Lithium Titanate Oxide (LTO) Battery storage. The project will take place in Conklin, Alberta, known for its harsh winter conditions, to assess the performance of the LTO batteries. The hybrid system aims to ensure uninterrupted cellular connectivity in remote areas while reducing fuel consumption by 25% compared to traditional methods. If successful, the telecom provider plans to implement the system at 50 more sites. The project will be managed by Camber's subsidiary, Simson-Maxwell, which already services 800 power systems for the telecom provider.

Camber Energy (NYSE American: CEI) announced the passing of Director Lawrence B. Fisher after a brief illness. Mr. Fisher, who joined Camber as a director in December 2023, also served as a director for its subsidiary, Viking Energy Group, since August 2018. CEO James Doris expressed deep gratitude for Mr. Fisher's contributions, commending his wisdom, wit, and support. The company extends its deepest condolences to Mr. Fisher's family and thanks him for his dedication.