EQS-News
CEI’s Subsidiary Groundbreaking Ozone Technology To Disrupt The Medical Waste Treatment Market
EQS-News: RazorPitch/CEI Camber Energy Inc. (NYSE American: CEI) is a growth-oriented, diversified energy company that owns minority, non-operated working interests in oil and gas wells in Texas and Louisiana, and works with commercial and industrial clients in North America to make energy and power solutions that fit their needs. |
CEI owns a 62% interest in the tightly held, low-float Viking Energy Group Inc. (OTC: VKIN), whose portfolio of technologies includes an exclusive license in Canada for a patented carbon-capture system, and systems for detecting open conductors in electric transmission and distribution.
In addition, VKIN also has a majority stake in an entity that owns the intellectual property rights to a fully developed, ready-to-market, proprietary ozone-powered medical and biohazard waste treatment system.
The Growing Medical Waste Market
With a growing and aging population, increased obesity, and more people suffering from diseases like COVID-19, there is more demand for treating medical and biohazardous waste.
Analysts report that the medical waste management market is expected to grow at a 6.2% CAGR and reach a market value of $25 billion by 2028.
Viking is the majority owner of Simson Maxwell, a producer of a medical waste treatment technology known as the VKIN-6000, which uses ozone to treat medical and biohazardous waste.
A Gap In The Market
Current methods for treating medical and biohazardous waste (microwaves, autoclaves, and incineration) have many drawbacks;
-
Use of highly toxic chemicals that can cause harm to workers and the environment
-
Need for significant post-treatment care and attention
-
Various odorous gasses, including dioxins, furans and VOCs into the atmosphere caused by processing the waste with heat
-
Extremely high cost