Zefiro Methane Corp. Subsidiary Secures Additional Plugging Contracts from State Government of Ohio
In addition to securing new contracts from the Ohio Department of Natural Resources covering 10 well sites to be remediated, Zefiro subsidiary Plants & Goodwin, Inc. also earned a collection of projects from two private-sector customers covering an additional 15 well sites, solidifying the Company's increasing commercial footprint in Ohio and Pennsylvania.
FORT LAUDERDALE, Fla., May 02, 2025 (GLOBE NEWSWIRE) -- ZEFIRO METHANE CORP. (Cboe Canada: ZEFI) (Frankfurt: Y6B) (OTCQB: ZEFIF) (the 'Company', 'Zefiro', or 'ZEFI') today announced that its subsidiary Plants & Goodwin, Inc. ('P&G') recently secured a collection of new contracts from the state government of Ohio. Specifically, these contracts include ten wells located in Ashtabula County and are under the purview of the Ohio Department of Natural Resources ('ODNR'). This past January, ODNR also awarded P&G eight state-funded well remediation projects consisting of 50 oil and gas wells, of which 28 have already been plugged.
In addition to these newly awarded, publicly-funded projects, P&G recently secured environmental remediation contracts in Pennsylvania with two private-sector clients, one of which is a brand-new account for P&G. These efforts will consist of P&G's expert environmental remediation crews plugging 15 oil and gas wells in the commonwealth.
These projects are the latest in a series of notable oil and gas well plugging contracts that the Zefiro family of companies has earned. Last month, Zefiro announced that P&G completed a package of commonwealth of Pennsylvania-funded oil and gas well remediation projects (18 wells in total) in Clarion County, Pennsylvania, including one site that was releasing toxins into a resident's water supply and cost nearly $500,000 to plug.Pictured: A P&G crew member on a Pennsylvania job site in July of 2024. Zefiro continues to carry out remediation work across the Appalachian region, where there are countless unplugged oil/gas wells potentially emitting methane.
Readers using news aggregation services may be unable to view the media above. Please access SEDAR+ or the section of the Company's website for a version of this press release containing all published media.
Zefiro Founder and CEO Talal Debs commented, 'Now more than ever, the demand for Zefiro's industry-leading environmental remediation services is increasing in key markets across the United States. As our expert crews prepare for what is traditionally the busiest season for oil and gas well plugging operations, we have deepened our relationship with the Ohio Department of Natural Resources and expanded our client base across Appalachia. Our continued commercial growth will help more communities protect their critical air, drinking water, and land resources, and by taking on new projects throughout the country, we can continue providing innovative, market-based solutions to help our public and private sector partners confront one of America's most pressing public health issues.'
Reporters/Media: For any questions or to arrange an interview, 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 Relations1 (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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