Zefiro Methane Corp. Announces Enhanced Orphaned Oil & Gas Well Capabilities via Partnerships Implementing AI & Blockchain-Backed Technologies

Yahoo

25-02-2025

Zefiro will work with numerous partners, including Geolabe, Keynum, and CarbonAi, to implement artificial intelligence and blockchain-backed solutions that will accelerate the Company's well identification and carbon credit issuance efficiency by approximately 50 percent
FORT LAUDERDALE, Fla., Feb. 25, 2025 (GLOBE NEWSWIRE) -- ZEFIRO METHANE CORP. (Cboe Canada: ZEFI) (Frankfurt: Y6B) (OTCQB: ZEFIF) (the 'Company', 'Zefiro', or 'ZEFI') today announced partnerships with Geolabe, a technology company that has built the methane abatement sector's first fully automated emissions detection system, and Keynum, an artificial intelligence and data science development firm, to enhance the Company's ability to locate leaking orphaned oil and gas wells and issue carbon credits. Specifically, the Company will incorporate various synergies promoted by these collaborations in tandem with the launch of the Zefiro Lifecycle Solution, a data capture and workflow management platform built in partnership with CarbonAi Inc., to significantly reduce the costs and timeframes associated with plugging abandoned wells and the subsequent certification of American Carbon Registry-accredited carbon offset products.
The working agreements with Geolabe and Keynum will introduce artificial intelligence-enabled data analytics to bolster Zefiro's ability to forge its project pipeline of sites that are leaking large, potentially unsafe amounts of methane gas. The Company estimates that these efforts will improve its batch efficiency gain, a measurement of the monetary resources allocated per ton of methane gas captured, by approximately 50 percent.
The workflow management platform built in partnership with CarbonAi will increase the efficiency and integrity of data collected throughout the entire Zefiro project lifecycle. This is to ensure that critical data generated by the Zefiro Lifecycle Solution is immutable, auditable and on ledger, thereby increasing the quality of resulting reductions.Zefiro crews working on the Company's first Oklahoma-based project in Custer County, OK. Photo taken in October 2024.
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Zefiro Founder and Chief Executive Officer Dr. Talal Debs commented, 'With millions of orphaned and abandoned oil and gas wells spread throughout twenty-six different states, utilizing advanced solutions to locate and permanently plug more of these sites is essential. Both the Lifecycle Solution developed with CarbonAi and our partnerships with Geolabe and Keynum bring innovative technologies into this important endeavor, and our heightened ability to increase our project portfolio, reduce costs, and promote efficiencies throughout our operations solidifies Zefiro's position as a market leader.'
Zefiro Chief Technology Officer Richard Walker commented, 'By harnessing the unique powers of artificial intelligence to process satellite imagery and the blockchain, Zefiro continues to find new ways to help stem the proliferation of orphaned and abandoned oil and gas wells. These innovative solutions will expand our operational footprint, enable best-in-class economics for our carbon credit initiatives, promote certainty in our methodologies, and ensure the integrity of our plugging measurements to help more communities reclaim critical air, water, and land resources.'
As part of this initiative, Zefiro signed a Letter of Intent ('LOI') with Geolabe on January 10, 2025. The Geolabe system uses artificial intelligence-backed models to automatically process large amounts of satellite images to pinpoint emissions at a uniquely granular level, drastically improving detection thresholds. Zefiro is not only providing Geolabe access to the Company's well screening and quantification data to help train the models but will also deploy its environmental remediation specialists to confirm leak rates that are critical to calibrating the model.
Additionally, Zefiro engaged Keynum in December 2024 to deliver a dashboard that can visualize orphaned well inventory from various states and Zefiro's screened well inventory and use predictive modeling capabilities developed by Keynum to identify probabilities for orphaned wells that may be leaking at rates that are economically viable to plug for issuance of carbon credits.
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 [e-mail] or by telephone at [phone].
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)[e-mail]
For media inquiries, please contact:
Rich Myers - Profile Advisors (New York)[e-mail] [phone]
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/.
A photo accompanying this announcement is available at
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