The amount of medical
waste needing to be managed is growing. An increase in the prevalence
of illnesses such as COVID-19, a growing medical infrastructure, and
an increasing population are all factors contributing to the growing
amount of medical waste.
These three factors combine to create a growing market for
companies that deal with treating medical waste. According to industry
analyst Grand View Research, the global medical waste management
market was valued at $21.0 billion in 2016 and is predicted to grow at
a CAGR of 5.4% through 2025.
According to the World Health Organization,
managing healthcare waste requires increased attention and diligence
to avoid negative health and environmental outcomes.
Key elements of
improving the management of medical waste, according to the WHO,
involve favoring the safety of workers involved and putting an
emphasis on being environmentally sound.
In this article, we will focus on Camber
Energy Inc’s (NYSEAmerican: CEI) majority-controlled subsidiary,
Viking Energy Group Inc., and how their game-changing technology seeks
to alter the medical waste market.
Viking Energy Group Inc. (OTC: VKIN)
growth-oriented, diversified energy company, majority controlled by
Camber Energy Inc. Through various majority-owned subsidiaries, Viking
provides custom energy and power solutions to commercial and
industrial clients in North America and owns interests in oil and
natural gas assets in the United States. The company also holds an
exclusive license in Canada for a patented carbon capture system.
majority-owned subsidiary, Viking Ozone Technology, LLC, VKIN offers
its revolutionary VKIN-6000, a waste treatment system utilizing ozone.
By combining their technology with the use of ozone, VKIN is able to
offer an environmentally sustainable and cost-effective solution.
and biohazardous waste management solutions that VKIN targets to
replace include incineration, chemical treatment, autoclaves, and heat
treatments. Each of these current methods has multiple drawbacks.
These methods for treating medical waste tend to be dangerous for
workers, involve the burning of harmful and odorous gasses, and result
in the release of harmful chemicals into the environment.
The VKIN-6000 eliminates
the heating element of treating medical waste. This means VKIN’s
solution dramatically reduces the amount of energy used during the
process, lowering costs, conserving resources, and eliminating
greenhouse gases. This results in a cheaper process that is safer and
more environmentally friendly.
Waste that has been treated by the VKIN-6000 is
able to be turned into a renewable resource, further proving its
environmentally friendly capabilities.
Recently, VKIN received a Notice of Allowance
from the United States Patent & Trademark Office (“USPTO”)
for patent application No. 17/576,801 titled “Multi-Chamber
Medical Waste Ozone-Based Treatment Systems and Methods”. A Notice
of Allowance means that the USPTO has made the determination that a
patent will be granted from an application. This means their
game-changing medical waste technology should receive a patent in the
The need for a solution that treats medical waste in a way that
is safe for the environment and for the workers involved in the
process is clear. VKIN offers that with their groundbreaking ozone
treatment technology. With the amount of medical and biohazardous
waste growing with the population, look to solutions like the
VKIN-6000 to be the way of the future.
Keep VKIN on your radar for stocks in the
medical waste sector to watch.
more information investors should visit:
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