Zefiro Methane Corp. Sponsor Entity Files Provisional Patent for Orphaned Oil & Gas Well Data Portal
Specifically, the provisional patent will provide Zefiro's team of well remediation specialists access to a geographical interface that incorporates satellite automated methane detection figures, includes proprietary field quantification data, and implements other critical attributes required for training an AI model capable of identifying leaking orphaned oil and gas wells. XMST will license the use of the patent to Zefiro at no cost, which will bolster the Company's efforts to significantly improve its batch efficiency gain, a measurement of the monetary resources allocated per ton of methane gas captured.
This announcement is the latest in a series of initiatives Zefiro has undertaken to incorporate innovative technologies into their well plugging and high-quality carbon credit generating operations, including partnerships with Geolabe and Keynum and the launch of the Zefiro Lifecycle Solution, a field data capture and workflow management platform built in partnership with CarbonAi Inc., to significantly reduce the costs and timeframes associated with plugging orphaned wells and the subsequent certification of accredited carbon offset products.
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 deploying first-rate machinery at job sites across America to collecting satellite data that provides communities accurate information regarding harmful methane leaks, incorporating innovative technologies has always been at the heart of Zefiro's commercial strategy. This patent will provide Zefiro's team access to critical data that will help our public and private sector clients better protect their most valuable land, water, and air resources.'
Zefiro Chief Technology Officer Richard Walker commented, 'Now more than ever, modern technology must be at the forefront of pressing environmental remediation efforts. By harnessing the innovations protected within this patent to remediate a larger number of leaking orphaned oil and gas wells, our team will have greater capacity to serve an expanding portfolio of clients and help more communities across North America unlock their full economic potential.'
Reporters/Media: For any questions or to arrange an interview with Dr. Debs or Mr. Walker, 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.
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