Viking to Use Cutting-Edge Ozone Technology for Waste Treatment through Joint Venture, Merger to Strengthen Position in $20 Billion Market

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Viking Energy Group, Inc. VKIN announced that it has acquired on January 18, 2022, a 51% interest in an entity that owns the intellectual property rights to a fully-developed, patent-pending, ready-for-market proprietary Medical & Bio-Hazard Waste Treatment system using Ozone Technology.

The purchase price for the acquired interest was $5,000,000 worth of shares of Viking common stock payable as follows: (i) $2,000,000 at closing; (ii) $2,000,000 after product revenues reach $10,000,000; and (iii) $1,000,000 after product revenues reach $20,000,000.

James Doris, President and Chief Executive Officer of Viking, commented, “We are extremely pleased to continue our strategy to acquire ready-for-market products that demonstrate our commitment to innovation, sustainable technologies and carbon footprint reduction. The medical waste treatment industry is more than $20 billion annually and growing rapidly. Proper treatment and disposal, however, of medical and biohazard waste has come under heightened scrutiny during these globally trying times.”

He added, “The industry has had limited innovation for decades. Treating biohazardous waste using ozone is the safest, most environmentally sustainable and cost-effective technology for medical waste compared to all existing alternatives. Ozone has been in use as a sterilizing agent for over 100 years with a proven operational safety and efficacy record. And finally, we are in discussions with customers in the United States and abroad regarding the potential utilization of the technology at several locations.”

This advancement in waste treatment technology is a sustainable alternative to incineration, chemical, autoclave and heat treatment of bio-hazardous waste. The OZONE technology fine shreds the raw waste in a controlled ozone environment as the first step in the waste processing treatment.

The waste is reduced in volume by up to 90% and is no longer recognizable or retrievable, eliminating HIPPA violations. The treated waste is classified as a renewable fuel for waste-to-energy (WTE) facilities in many locations around the world. OZONE is effective to kill all known pathogens including bacteria, fungi and viruses.

The OZONE biohazardous waste treatment technology extracts oxygen from the ambient air and converts it to ozone using plasma ozone generators. This ozone is used to treat biohazardous waste in a very safe and controlled manner.

The processing and treatment of the waste is done at room temperature, no steam or heat is required, and no by-products are produced from this system. After the treatment, any residual ozone is automatically converted back into oxygen, resulting in “zero” emissions.

The Ozone System is designed to assist with critical waste needs of a variety of institutions or organizations, including hospitals, nursing homes, universities, laboratories, border-crossing facilities, research facilities, cruise ships and vessels, resorts and hotels, transfer stations MSW, airports, military facilities and correctional facilities.

Learn more about the proposed transaction on the Viking Energy Group website available under “investors” – “SEC Filings.”

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