Camber Dips On Positive Test Results
Date
2/23/2024 10:10:40 AM
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Glenn Wilkin - Friday, February 23, 2024
Camber Dips on Positive Test Results
Shares in Camber Energy, Inc. (NYSE:CEI) bend slightly Friday, as the Houston-based growth-oriented diversified energy company shared today the recent announcement from ESG Clean Energy, LLC advising the results from initial tests of ESG's patented water removal system exceed a water removal rate of over 90%. Reaching this level of efficiency in removing water from emissions associated with power generation enables the lowest-cost and most energy efficient way of capturing carbon, according to technical specialists at ESG.
ESG President Nick Scuderi commented "We had no doubt about the effectiveness of our design but reaching this level of efficiency so quickly has surpassed even our own expectations. As we further optimize the process and integrate it with other elements of our proprietary system, we believe the efficiency rate will be even higher. This will work to our benefit as we scale to meet the demands of fossil fuel consumption in small and large power facilities, and eventually the transportation industry."
The testing took place recently at ESG's 4MW power generation site in Holyoke, Mass. Using calibrated humidity sensors positioned at both the beginning and the end of the exhaust stream, the results exceeded the modeled forecast of 83%, which was developed during the initial design phase of ESG's carbon capture process.
CEI shares gave up 0.016 cents to 18 cents.
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