Viking Energy — A Company Accelerating Through The Clean Energy Curve?

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A rapidly evolving global energy industry has several energy companies rethinking their business strategies, with many taking steps to diversify away from oil and gas into renewable and nonenergy sectors.

The attraction is somewhat clear. If the core businesses are not growing or are even in decline, there may be excess capital that can be re-invested in other growth businesses. Acting swiftly in pursuing an informed diversification strategy might mean the difference between success and failure, allowing firms to remain at the leading edge of the industry.

One Texas company, Viking Energy Group Inc. VKIN, reports that it has been proactive in this space and has done just that. Some active companies in the markets today include:  Clean Energy Fuels Corp. CLNE, Indonesia Energy Corporation Limited INDO, Fusion Fuel Green PLC HTOO. 

Viking, a green energy company, is positioned as an industry player assisting with the power generation needs of commercial and industrial organizations, while also looking to help them reduce their carbon footprints to satisfy regulatory requirements. 

The company states that it has a two-pronged growth strategy: Within its energy division, it’s to pursue opportunities, recognizing the immediate dependence on current energy sources and the need to explore sustainable and profitable alternatives, and outside the energy sector it’s targeting wider opportunities with compelling metrics and scalability. 

From operating primarily in Kansas and Missouri in the early years, Viking had made strategic acquisitions of oil and gas assets in Texas and Louisiana by 2019, increasing its oil and gas reserves substantially and doubling its oil production. In 2020, Viking energy posted a revenue increase of 16.4% to more than $40 million.

Clean Energy: Embracing the Change 

In 2021, Viking purchased a 60.5% interest in Simson-Maxwell Ltd., a manufacturer and supplier of industrial engines, power generation products and custom energy solutions, hoping to integrate innovative technology with superior products to contribute to global energy sustainability. 

The acquisition may enable Viking to deliver efficient and reliable power system solutions for heavy industry, residences and cryptocurrency mining.

The company also reportedly made strides in the carbon capture and clean energy arena and is a party to an intellectual property license agreement with ESG Clean Energy LLC regarding the know-how of stationary electric power generation and methods of carbon capture.

The system is made to generate clean electricity from internal combustion engines and uses waste heat to capture almost 100% of the carbon dioxide emitted without loss of efficiency while facilitating the production of precious commodities such as urea and ammonia for sale. 

In November, Viking entered into a membership interest purchase agreement to acquire a 100% interest in a group of companies that are in the process of developing a processing plant in Reno, Nevada, producing renewable diesel, made from feedstocks instead of crude oil. 

Not Putting All The Eggs In One Basket?

In February Viking acquired a 51% interest in two entities that own the intellectual property rights to fully developed, patent-pending, proprietary Electric Transmission and Distribution Open Conductor Detection Systems. 

The systems are designed to detect a break in a transmission line, distribution line, or coupling failure, and immediately terminate power to the line before it reaches the ground. The technology aims to dramatically increase public safety and reduce the risk of causing an incendiary event such as wildfires in California. 

Viking also forayed into the medical and biohazard waste treatment market through its majority-owned subsidiary Viking Ozone Technology LLC, which owns the intellectual property rights to a fully developed, patent-pending medical and biohazard waste-treatment system using ozone technology. Its subsidiary Simson-Maxwell Ltd. has been granted exclusive worldwide rights to manufacture, market and sell the Ozone System.

Viking CEO James Doris believes the company’s recent transactions have elevated the organization, making it well-positioned for expansion across all divisions, namely power generation, clean energy and resources.

To learn more about Viking Energy visit https://ir.vikingenergygroup.com/

This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.