The Houston-based energy company Camber Energy (NYSE American: CEI) just announced that its subsidiary Viking Energy Group, Inc. has secured an Intellectual Property License with ESG Clean Energy for electricity generation, heat utilization and carbon capture.
The agreement allows for full exclusivity on the territory of Canada, meaning Camber Energy can install any number of systems. And the license is non-exclusive for as many as 25 locations in the United States.
ESG’s Clean Energy System uses internal combustion engines to generate clean electrical power, whereas waste heat is used to capture almost 100% of the CO2 emitted during the process. Furthermore, the proprietary technology sees to it that the carbon capture occurs at no expense of the system’s overall efficiency.
And as an added benefit, it can be used in the production of saleable commodities, such as ammonia, ethanol, distilled water, and others.
Hence, the ESG Clean Energy System is applicable in a number of different industries aside from its primary purpose of producing electricity. These industries include nitrogen removal, microgrids, data center, cryptocurrency mining and even plastic recycling.
Camber Energy Becoming Industry Leader?
In a comment on the agreement between Camber Energy and ESG, Camber’s CEO James Doris pointed out that the transaction puts the company in a unique positions as an industry leader with its ability to meet the power generation needs of industrial and commercial organizations while also helping them decrease their carbon dioxide emissions to meet regulatory requirements.
Doris also named the platform that will be used to promote the ESG Clean Energy System – Simson-Maxwell Ltd, a company that was just recently acquired by Caber as a majority-owned subsidiary.
And as a growth-oriented energy company that provides custom solutions to large-scale clients in North America, Camber will certainly be tapping into the potential that carbon capture technology has and will continue to have for this sector.
Read more: New Extensive Carbon Capture And Storage Market Report Is Here (written October 1st)