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      Camber Energy: How Did CEI Stock Rise Today?

      By Fahim Awan

      Published on

      October 5, 2023

      5:06 PM UTC

      Last Updated on

      October 5, 2023

      5:11 PM UTC

      Camber Energy: How Did CEI Stock Rise Today?

      Camber Energy, Inc. (NYSE: CEI) shares are ascending on the financial charts within the current market, experiencing an impressive upswing of 26.25% to reach a valuation of $0.3107.

      Notwithstanding its inclusion in the roster of most significant decliners over the preceding 12 months, registering a substantial plummet of nearly 96%, the Camber Energy stock has witnessed a remarkable resurgence, surging by over 46% throughout the course of the previous week.

      This remarkable resurgence in the valuation of CEI stock can be attributed to the recent conclusion of a distribution agreement involving its subsidiary based in the United Kingdom.

      Camber Energy (CEI) yesterday made a significant announcement regarding its majority-owned subsidiary under the umbrella of Viking Energy Group. The Viking-subsidiary Simson-Maxwell Ltd. has entered into a Manufacturer’s Representative Agreement (MRA).

      Under the terms of this agreement, Simson-Maxwell Ltd. has appointed Planeteq Limited as the exclusive distributor for Viking Ozone Technology, LLC’s proprietary ozone waste treatment systems in the United Kingdom.

      Planeteq is a UK-based company that specializes in the design of sustainable technological solutions aimed at assisting businesses in waste reduction and enhancing energy efficiency.

      Notably, Planeteq holds approval as a vendor within the National Health Service Trust (NHS), which oversees the management of approximately 1,000 hospitals across the United Kingdom.

      The decision to partner with Planeteq followed an extensive evaluation process conducted over several months, during which Planeteq meticulously examined Viking Ozone’s technology.

      This evaluation involved close collaboration with Viking Ozone’s technical team and numerous interactions with representatives from specific hospitals within the NHS network.

      Planeteq holds the firm belief that Viking’s technology represents an innovative and highly effective solution to address the prevailing waste treatment challenges faced by NHS-affiliated hospitals and private-sector entities alike. Furthermore, Planeteq expects this technology to be a crucial part of the NHS’s efforts to achieve Net Zero.

      Last week, Camber Energy (CEI) was awarded a patent from the United States Patent and Trademark Office (USPTO). This patent, titled “Electric Transmission Line Ground Fault Prevention Systems Using Dual, High Sensitivity Monitoring Devices,” has been granted to a majority-owned subsidiary of Viking Energy.

      This novel patent forms a crucial component of an extensive intellectual property portfolio held by Viking Protection Systems, LLC, as well as their collaborative partners within joint ventures.

      This portfolio has been integrated into Open Conductor Detection technologies, which have been meticulously designed to identify unsafe and hazardous conditions in electric transmission and distribution lines, irrespective of their length or voltage capacity.

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