Viking Energy Announces Notice Of Allowance For Patent Covering Waste Treatment Technology

Viking Energy Group, Inc. ("Viking" or the "Company") is pleased to announce that its majority-owned subsidiary, Viking Ozone Technology, LLC ("Viking Ozone"), 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 is issued after the USPTO makes the determination that a patent should be granted from an application. A patent from the recently allowed application is expected to be issued in the coming months.

The pending patent relates to Viking Ozone's proprietary methods and devices utilizing Ozone-based treatments. Viking is expected to use this technology within waste treatment and disposal systems, including systems used in hospitals, prisons, laboratories, military bases and care centers.

The global medical waste management market size was valued at USD 21.0 billion in 2016 and is expected to grow at a CAGR of 5.4% to 2025, according to industry analyst Grand View Research.^[1]

Continued use of certain existing treatment, disposal and recycling procedures increases the risk of harmful gases and compounds such as mercury and oxides being released into the atmosphere, which contribute to land, air and water pollution and may result in the spread of possible cancer-causing infectious agents. The development and adoption of advanced techniques in the treatment, disposal and recycling of these materials are driving industry growth.

According to the World Health Organization, the management of health-care waste requires increased attention and diligence to avoid adverse health outcomes, and key elements in improving health-care waste management include favoring the safe and environmentally sound treatment of waste, and selecting safe and environmentally-friendly management treatment and disposal options.^[2]

^[1] https://www.grandviewresearch.com/industry-analysis/medical-waste-management-market

^[2] https://www.who.int/news-room/fact-sheets/detail/health-care-waste