Benzinga | Aug 24, 2021 08:33AM EDT

Camber Energy's Viking Energy Group Subsidiary Enters Exclusive Intellectual Property License Agreement With ESG Clean Energy; License Is Exclusive For All Of Canada And Non-Exclusive For Up To 25 US Locations

Camber Energy, Inc. (NYSE:CEI) ("Camber" or the "Company") is pleased to announce its majority-owned subsidiary, Viking Energy Group, Inc., entered into an Exclusive Intellectual Property License Agreement with ESG Clean Energy, LLC ("ESG") regarding ESG's patent rights and know-how related to stationary electric power generation, including methods to utilize heat and capture carbon dioxide (the "ESG Clean Energy System"). The license is exclusive for all of Canada (unlimited number of systems), and non-exclusive for up to twenty-five locations in the United States.

The ESG Clean Energy System is designed to generate clean electricity from internal combustion engines and utilize waste heat to capture 100%of the carbon dioxide (CO2) emitted from the engine without loss of efficiency, and in a manner to facilitate the production of precious commodities (e.g. distilled/ de-ionized water; UREA (NH4); ammonia (NH3); ethanol; and methanol) for sale.

James Doris, President and Chief Executive Officer of Camber, commented, "In my view this transaction positions us as an industry leader in terms of being able to assist with the power generation needs of commercial and industrial organizations while at the same time helping them reduce their carbon footprint to satisfy regulatory requirements or to simply follow best ESG-practices. We are excited to be able to use the platform of Simson-Maxwell Ltd., our recently acquired majority-owned subsidiary, to promote the ESG Clean Energy System."

In addition to electrical power generation, the ESG Clean Energy System is designed to be utilized within a number of different environments, including:

* Plastics Recycling Operations

* Nitrogen Removal

* Microgrids

* Data Centers

* Crypto Mining Operations

Additional details regarding the transaction were included in Camber's Current Report on Form 8-K filed with the Securities and Exchange Commission ("SEC") on August 23, 2021, and is available under "investors" - "SEC filings" at www.camber.energy.

About Camber:

Based in Houston, Texas, Camber Energy, Inc. is a growth-oriented energy company. Through a majority-owned subsidiary, Camber owns interests in oil and natural gas assets in the United States, and provides custom energy solutions to commercial and industrial clients in North America. For more information, please visit the company's website at www.camber.energy.