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Viking Energy Announces Notice of Allowance for Additional Patent Covering Transmission Line Ground Fault Prevention Systems

Monday, 24 July 2023 08:30 AM

Viking Energy Group, Inc.

HOUSTON, TX / ACCESSWIRE / July 24, 2023 / Viking Energy Group, Inc. (OTCQB:VKIN) ("Viking" or the "Company") is pleased to announce that its majority-owned subsidiary, Viking Protection Systems, LLC ("Viking Protection"), received a Notice of Allowance from the United States Patent & Trademark Office ("USPTO") for utility patent application No. 17/672,422 titled "Electric Transmission Line Ground Fault Prevention Systems Using Dual, High Sensitivity Monitoring". This prospective patent is in addition to the prospective patent announced by Viking on May 30, 2023.

A Notice of Allowance is issued after the USPTO makes the determination that a patent should be granted from an application, and a patent from the recently allowed application is expected to be issued in the coming weeks.

James Doris, President & Chief Executive Officer of Viking, commented, "We continue to expand and strengthen our IP portfolio related to this important technology which will assist with much needed modernization and grid-stability initiatives around the world."

The prospective patents relate to Viking Protection's proprietary transmission line ground fault prevention systems, which are designed to detect a break in a transmission line, or coupling failure, and to immediately de-energize the line, thus preventing an energized high voltage transmission line from contacting ground or a grounded structure. The technology is designed to be an integral component within a much-needed, worldwide grid hardening and stability initiative by electric utilities to improve resiliency and reliability of existing infrastructure. Viking Protection's software-based solution can be deployed within a utility's existing protective relay infrastructure, allowing the utility to protect its grid with greater confidence and reliability.

About Viking:

Based in Houston, Texas, Viking Energy Group, Inc. is a growth-oriented diversified energy company. Through various majority-owned subsidiaries, Viking provides custom energy & power solutions to commercial and industrial clients in North America. The company also holds an exclusive license in Canada to a patented carbon-capture system, and has a majority interest in: (i) an entity with intellectual property rights to a patented, ready-for-market proprietary Medical & Bio-Hazard Waste Treatment system using Ozone Technology; and (ii) 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 www.vikingenergygroup.com.

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 Viking's filings with the Securities and Exchange Commission. We intend that all forward-looking statements be subject to the safe-harbor provisions.

Contact Information
Investors and Media:
Tel. 281.404.4387

SOURCE: Viking Energy Group, Inc.

Topic:
Company Update
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