Viking Energy Group (OTCMKTS: VKIN) has technology that can be used to help prevent wildfires.
-With wildfires ravaging New Mexico and parts of Southern California, there is sure to be conversations in government offices, as well as for profit and non-profit organizations, about what can be done to prevent these natural disasters from occurring.
-Viking Energy Group has acquired technology that could prevent wildfires. This technology is ready to be implemented today.
Viking Energy Group Acquisition Helps Them Fight Wildfires
Viking Energy Group (OTCMKTS: VKIN) announced in February a controlling 51% acquisition of two companies “that own the intellectual property rights to fully developed, patent-pending, ready-for-market proprietary Electric Transmission and Distribution Open Conductor Detection Systems.”
– VKIN’s new technology can identify and cut power to these lines before those fires are started or before they spread.
-This technology can be critical in states where wildfires are more likely to happen because of warmer, dryer climates and weather.
-Implementing this technology in state-run power grids and through the firms that manage and provide power to them, VKIN could, in theory, help cut down on the number of wildfires and the loss they cause.
– Viking Energy President and CEO James Doris recently commented, “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.”
Why VKIN’s Technology Matters
· There were roughly 59,000 wildfires in the US in 2021
· Those wildfires consumed more than 7 million acres of land
· Annually, wildfires cost billions of dollars in damage and loss to individuals, businesses, and governments at every level—state, local, and federal.
-Implementing its solution to a small share of state governments could save state, local, and national GDPs billions and keep tax dollars from being spent on preventable disasters.
-Doris emphasized the importance of this technology and its readiness, saying, “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. Arcing and sparking energized power lines are hazardous, and difficult to detect using traditional concepts.”
VKIN’s New Tech Aligns with Its Strategic Vision
The acquisition of these two companies and the immediate readiness and deployment of the acquired technology help to meet its four pillars/critical areas of focus:
· Balance sheet management
· Diversification
· Stakeholder alignment
· Aligning profitability with corporate social responsibility
-Adding these two companies and their technological assets boosts VKIN’s balance sheet
-Adding a unique product within the company’s focus but outside its immediate operations expands the firm’s diversification
-A strong balance sheet, diverse holdings and operations, and a focus on corporate social responsibility could go a long way to attracting the ideal shareholders
VKIN as an Investment
-Viking Energy Group’s (OTCMKTS: VKIN) current stock price of $0.6515 per share is up roughly 25% since its February low of $0.48 per share.
-The diversified energy company has a market capitalization of roughly $75 million and trailing twelve months revenues of nearly $38 million.
-As it continues to explore the power grid support and technology space, VKIN has a real opportunity to do well by doing good.
-Are investors ready to watch as VKIN works to grow its bottom line as it does good?
This article is part of a sponsored investor education program
