Camber Energy, through its subsidiary, Viking Energy Group, has entered into a license agreement with ESG Clean Energy for information and patent rights regarding its unique waste heat to capture technology.
The ESG Clean Energy System can use waste heat to capture around 100% of the carbon dioxide (CO2) emitted from international combustion engines. The system also allows for the generation of clean electricity.
This captured CO2 becomes part of ‘circular economy’ that allows for the gas to be used in the production of resources to be used for sale, such as distilled/de-ionised water, urea (NH4), ammonia (NH3), ethanol, and methanol.
Commenting on the agreement, James Doris, President, CEO, Camber, said, “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 organisations while at the same time helping them reduce their carbon footprint to satisfy regulatory requirements or to simply follow best ESG-practices.”
The ESG Clean Energy System can be utilised across a spectrum of industries including plastics recycling, nitrogen removal, microgrids, data centres, and crypto mining operations.
Doris added that the company is excited to be able to use the platform of Simson-Maxwell Ltd., their recently acquired majority-owned subsidiary, to promote the ESG Clean Energy System.
The agreement itself is an Exclusive Intellectual Property License Agreement and is exclusive for all of Canada and non-exclusive for up to 25 locations in the United States.