RETRANSMISSION: Camber Energy Announces Patented Technology More than Doubles CO2-Capture Rate

ESG's CO2-Capture Prototype Finally Installed and Tested at Site in Holyoke, MA

HOUSTON, TX / ACCESSWIRE / July 8, 2024 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company"), a growth-oriented diversified energy company, shared today the most recent announcement from ESG Clean Energy, LLC ("ESG") advising that test results of the recently installed carbon-capture prototype at ESG's facility in Holyoke, MA indicate ESG's patented water removal technology enables at least twice as much carbon to be captured per pound of adsorbent.

This is an industry-changing outcome as it will significantly reduce the size and cost of carbon capture systems, making them much easier and economical to implement, according to ESG. Camber's wholly-owned subsidiary has licensed the intellectual property associated with ESG's clean energy & carbon-capture system for exclusive use in Canada and for multiple locations in the U.S.

"These results represent another significant milestone in the development and commercialization of our clean energy system. We were confident we would see these numbers, but it is nice to have them validated with data from an operational unit and finally see the proof in our design," said Nick Scuderi, President of ESG Clean Energy, LLC.

James Doris, President & CEO of Camber, commented "We have been waiting a long time for this moment but are very pleased ESG's team has finally completed this critical milestone. Our technical and marketing teams can now begin to analyze applicable data and work towards finalizing and implementing important commercialization and monetization initiatives."

ESG's Recent Announcement

Regarding the test results of its carbon-capture prototype and its patented water removal system, on July 2, 2024 ESG issued a press release which stated, in part:

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ESG Clean Energy's Patented Technology More than Doubles CO2-Capture Rate!

CO2-Capture Prototype Finally Installed and Tested at ESG's Active Site in Holyoke, MA

WEST SPRINGFIELD, Mass. - (July 2, 2024) - ESG Clean Energy, LLC ("ESG"), developers of power generation/carbon capture systems with a nearly Zero Carbon output, announced today that ongoing testing results at its facility in Holyoke, MA indicate the company's patented water removal technology enables at least twice as much carbon to be captured per pound of adsorbent, which is an industry-changing outcome.

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Following the previously disclosed installation and testing of its water removal system, ESG assembled and commenced testing of its carbon capture prototype, using zeolite (a common adsorbent material for capturing CO2), and recent analyses show that water removal increased carbon capture by 100% per pound of adsorbent. This will significantly reduce the size and cost of carbon capture systems, making them much easier and economical to implement.

ESG Clean Energy's enabling technology is its patented water removal system which consists of an advanced ceramic membrane incorporated into a unique mechanical cooling system. It is designed to be used on large and small systems and can be retrofitted onto current operating power plants.

Testing was conducted at ESG's 4.4MW gas-powered power generation plant in Holyoke that serves the local electrical grid.

ESG plans on implementing this technology across all its planned facilities and has licensed the technology to a subsidiary of Camber Energy (NYSE (Amex): CEI) for all of Canada and multiple locations in the United States.

[...]

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About Camber Energy, Inc.

Camber Energy, Inc. is a growth-oriented diversified energy company. Through its wholly-owned subsidiary, Viking Energy Group, Inc., 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 .

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.

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SOURCE: Camber Energy, Inc.

Released July 8, 2024