Zefiro Methane Corp. Subsidiary
Awarded Slate of Government of Ohio-Funded Environmental
Remediation Projects
The new projects are the latest in a
series of recent public and private sector partnerships that have
established Zefiro as one of North America's leading methane
abatement service providers. In 2023 alone, Zefiro remediated 200
methane well sources, ultimately eliminating approximately 100,000
tons of CO2 equivalent.
FORT LAUDERDALE, FL -- January 15, 2025 --
InvestorsHub NewsWire -- ZEFIRO METHANE CORP. (Cboe
Canada: ZEFI) (Frankfurt: Y6B) (OTCQB:
ZEFIF) (the "Company", "Zefiro", or "ZEFI") today
announced that the Company's subsidiary Plants &
Goodwin ("P&G") has been awarded eight projects by the
state government of Ohio. Specifically, the scope of work includes
Zefiro's team of environmental remediation specialists plugging 50
oil and gas wells located across the state to mitigate an array of
potential public health
threats.
The effort to seal
these potentially noxious sites has been led by Zefiro Senior Vice
President of Business Development Luke Plants. P&G
crews have already plugged 20% of the sites that comprise this
initiative and currently have four full-sized rigs deployed in
communities throughout Ohio to help remediate the project's
remaining wells.
According to the
latest expert
estimates, there are millions of unplugged oil and gas
wells spread throughout the U.S. that have the potential to leak
methane gas that can be 25 to 84 times as
potent as carbon dioxide emissions in terms of trapping
heat in the atmosphere. While these projections include the
approximately 19,000 orphan
wells that have been officially identified by the Ohio Department of
Natural Resources ("ODNR"), they also account for the
significant number of unknown sites that the ODNR has acknowledged
exist throughout the state. The ODNR has also stated that the
agency has potential access to USD $634 million
in funding to plug orphaned and abandoned wells through 2035,
assuming that U.S. federal government and state of Ohio resource
allocation levels remain stable.
Pictured above: Zefiro Methane Corp.
on-site at an active plugging operation. For more information on
Zefiro's work with the Ohio Department of Natural Resources, click
here.
Readers using news aggregation
services may be unable to view the media above. Please access
SEDAR+ or the Investors section of the Company's website for a version
of this press release containing all published media.
Zefiro Founder and
Chief Executive Officer Dr. Talal Debs commented, "From the plains
of Oklahoma to the forests of Appalachia, Zefiro's team of
environmental remediation specialists has been tasked by an
expanding collection of public and private sector clients with
eliminating tens of thousands of tons' worth of potentially toxic
methane emissions. The unique level of resources and institutional
knowledge that we have directed toward this latest assignment is
indicative of our ambitious operational expansion efforts, and we
are grateful to our partners at the ODNR for entrusting our expert
crews with helping more communities reclaim critical air, water,
and land resources."
Zefiro Senior Vice
President of Business Development Luke Plants commented, "Whether
its site identification, gas leak testing, or well plugging
operations, the demand for Zefiro's industry-leading suite of
methane abatement services and technologies continues to increase
across a diverse collection of key marketplaces. Our team is highly
capable, field-tested, and increasingly eager to help more
communities take on this legacy issue, and we will keep working
alongside our colleagues at the ODNR until the job is done."
Zefiro's ongoing
work in Ohio is the latest in a series of commercial initiatives
that the Company has undertaken to expand its operational footprint
across North America. This includes opening a new operations facility in
West Virginia, completing strategic acquisitions of
Ohio and
Pennsylvania-based
entities that bolster the Company's client service capabilities,
and working with numerous government partners throughout the
continent, including the U.S. National Park
Service, the State of New
York, the Commonwealth of
Pennsylvania, and the Province of
Alberta, on numerous landmark well remediation
initiatives.
Reporters/Media: For any questions or
to arrange an interview with Dr. Debs or Mr. Plants, please contact
Rich Myers of Profile Advisors
(New York City) by email at media@zefiromethane.com
or by telephone at +1 (347) 774-1125.
About Zefiro Methane Corp.
Zefiro is an
environmental services company, specializing in methane abatement.
Zefiro strives to be a key commercial force towards Active
Sustainability. Leveraging decades of operational expertise, Zefiro
is building a new toolkit to clean up air, land, and water sources
directly impacted by methane leaks. The Company has built a fully
integrated ground operation driven by an innovative monetization
solution for the emerging methane abatement marketplace. As an
originator of high-quality U.S.-based methane offsets, Zefiro aims
to generate long-term economic, environmental, and social
returns.
On behalf of the
Board of Directors of the Company,
ZEFIRO METHANE CORP.
"Talal Debs"
Talal Debs, Founder
& CEO
For further information, please
contact:
Zefiro Investor
Relations
1 (800) 274-ZEFI
(274-9334)
investor@zefiromethane.com
For media inquiries, please
contact:
Rich Myers -
Profile Advisors (New York)
media@zefiromethane.com
+1 (347)
774-1125
Forward-Looking Statements
This news release
contains "forward-looking information" within the meaning of
applicable Canadian securities legislation. Forward-looking
information is often, but not always, identified by the use of
words such as "seeks", "believes", "plans", "expects", "intends",
"estimates", "anticipates" and statements that an event or result
"may", "will", "should", "could" or "might" occur or be achieved
and other similar expressions. In particular, this news release
contains forward-looking information including statements
regarding: the Company's intention to reduce emissions from end-of-life oil and gas wells and
eliminate methane gas; the Company's partnerships with industry
operators, state agencies, and federal governments; the Company's
expectations for continued increases in revenues and EBITDA growth
as a result of these partnerships; the Company's intentions
to build out its presence in the United States; the
anticipated federal funding for orphaned well site plugging,
remediation and restoring activities; the Company's expectations to become a
growing environmental services company; the Company's ability to
provide institutional and retail investors alike with the
opportunity to join the Active Sustainability movement; the
Company's ability to generate long-term economic, environmental,
and social returns; and other statements regarding the Company's
business and the industry in which the Company operates. The
forward-looking information reflects management's current
expectations based on information currently available and are
subject to a number of risks and uncertainties that may cause
outcomes to differ materially from those discussed in the
forward-looking information. Although the Company believes that the
assumptions and factors used in preparing the forward-looking
information are reasonable, undue reliance should not be placed on
such information and no assurance can be given that such events
will occur in the disclosed timeframes or at all. Factors that
could cause actual results or events to differ materially from
current expectations include, but are not limited to: (i) adverse
general market and economic conditions; (ii) changes to and price
and volume volatility in the carbon market; (iii) changes to the
regulatory landscape and global policies applicable to the
Company's business; (iv) failure to obtain all necessary regulatory
approvals; and (v) other risk factors set forth in its Prospectus
dated April 8, 2024 under the heading "Risk Factors". The Company
operates in a rapidly evolving environment where technologies are
in the early stage of adoption. New risk factors emerge from time
to time, and it is impossible for the Company's management to
predict all risk factors, nor can the Company assess the impact of
all factors on Company's business or the extent to which any
factor, or combination of factors, may cause actual results to
differ from those contained in any forward-looking information.
Forward-looking information in this news release is based on the
opinions and assumptions of management considered reasonable as of
the date hereof, including, but not limited to, the assumption that
general business and economic conditions will not change in a
materially adverse manner. Although the Company believes that the
assumptions and factors used in preparing the forward-looking
information in this news release are reasonable, undue reliance
should not be placed on such information. The forward-looking
information included in this news release is made as of the date of
this news release and the Company expressly disclaims any intention
or obligation to update or revise any forward-looking information
whether as a result of new information, future events or otherwise,
except as required by applicable law.
Statement Regarding Third-Party Investor
Relations Firms
Disclosures relating to investor relations firms retained by Zefiro
Methane Corp. can be found under the Company's profile on SEDAR+ at
www.sedarplus.ca/.
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