Viking Energy Group (OTCMKTS: VKIN) is a green clean energy diversified company working on a ‘ready-to-market’ acquisition strategy. Investors have voted in favor of the strategy recently creating positive momentum in VKIN shares over the past 30 days.
VKIN’s latest acquisition is a 51% interest in two entities that own property rights to grid-hardening Electric Transmission and Distribution Open Conductor Detection Systems versus forest fires for a purchase price of $21 million.
For acquiring 51% interest in the two companies, VKIN is paying $5 million in shares. The transaction calls for closing $250,000 in common stock and $4,750,000 in preferred stock. The balance will be paid on a schedule based upon the acquired entities achieving certain sales thresholds. According to a Department of Energy study, the United States loses nearly $70 billion each year from power outages. This is a nearly $100 billion problem, the acquisition allows VKIN to be a part of the solution. The acquisition is just one of many smart sustainable plays in the company’s portfolio.
VKIN’s DIVERSIFICATION
VKIN is far more than a single-play energy firm owning $96 million in oil and gas assets. It is an operational and versatile company with ownership rights over several green clean energy-related unique solutions ready-to-market firms. The catalysts for VKIN include its ownership and active participation in solutions for catastrophic incidents in forest fires for utilities that seek hardened grids. The technology detects the impact of transmission lines about to fall.
VKIN is a diversified green energy company that helps companies capture carbon dioxide. Reducing the climate impact of forest fires is an important focus of VKIN. It offers solutions to utilities to protect and harden grids.
VKIN’s ‘Ready-To-Market’ STRATEGY
James Doris, president and CEO of VKIN, says, “We are extremely pleased to continue our strategy to continue to acquire ready-to-market products that demonstrate our commitment to innovation, sustainable technologies and carbon footprint reduction.”
The acquisition of the majority equity ownership of the two entities will give VKIN control over a scale advancement in grid protection solutions. It is an outright purchase of sustainable patent-pending, ready-for-market proprietary intellectual property rights (IPR).
Discussions For Deployment Have Already Begun With Major Utilities
Doris of Viking, says, “This technology is extremely important. It truly is difficult to put a monetary value on a solution that can sense a broken power line and cut the electricity flowing through the line before the wire hits the ground.
He adds, “We have already begun discussions with major utilities in California and global equipment manufacturers for deployment. Our solution can be quickly and cost-effectively deployed in high-risk areas first, then utilized more broadly by all utility companies to help reach their grid hardening goals.”
VKIN’s ‘The Line Sentinel’ Will Be Introduced To The Market
Viking already has a Distribution Line solution titled “The Line Sentinel.” VKIN plans to introduce into the market through an internationally-known manufacturer and distributor of protective relay systems and other products, it says.
Aiding VKIN with its sales and marketing through their knowledge of the international power market are the developers of the technologies, Robert Stuart and Ronald Smith.
VKIN’s 62% Majority Owner Is Camber Energy, Inc. (NYSE American: CEI)
CEI last year bought $11 million worth of VKIN stock. The funds were used in part to fund its license from ESG Clean Energy LLC (ESG). Additional funds from that VKIN stock purchase went to VKIN’s general working capital.
VKIN is a clean energy company which uses an IP license from ESG Clean Energy, LLC to generate renewable clean energy.
VKIN A Green Clean Energy Stock
VKIN last year acquired a majority interest in subsidiary Simson-Maxwell, Ltd. It uses the Simson-Maxwell platform to promote the ESG Clean Energy System.
Through various subsidiaries, VKIN owns oil and gas interests in the U.S. It also holds operations in Canada through its majority-owned subsidiary Simson-Maxwell Ltd.
Keep VKIN stock on your Watch List as green clean energy stocks are growing in valuation.
For more information, go to www.vikingenergygroup.com
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