Zefiro Methane Corp. Announces Year-End Earnings Report & Provides Corporate Activities Update
Zefiro Methane Corp. (ZEFIF) announced record financial results for FYE 2024, with consolidated revenues of $32.8 million USD and positive adjusted EBITDA. The company reported a 10% increase in Q4 revenue to $9.4 million USD, with a gross profit of $2.9 million USD (31% margin). Zefiro's growth strategy includes:
1) Originating and distributing carbon offsets from methane reduction
2) Expanding into new U.S. geographies
3) Participating in federal and state infrastructure funds for well plugging
4) Evaluating new products and partnerships
5) Pursuing global expansion
The company completed strategic acquisitions and partnerships to enhance its capabilities in well remediation and carbon offset marketplace accessibility. Zefiro also launched its IPO on Cboe Canada and began trading on Frankfurt and OTCQB exchanges.
Zefiro Methane Corp. (ZEFIF) ha annunciato risultati finanziari record per l'anno fiscale 2024, con ricavi consolidati di $32,8 milioni USD e un EBITDA rettificato positivo. L'azienda ha registrato un incremento del 10% dei ricavi nel quarto trimestre a $9,4 milioni USD, con un profitto lordo di $2,9 milioni USD (margine del 31%). La strategia di crescita di Zefiro comprende:
1) Origine e distribuzione di crediti di carbonio derivanti dalla riduzione del metano
2) Espansione in nuove aree geografiche degli Stati Uniti
3) Partecipazione a fondi infrastrutturali federali e statali per la chiusura dei pozzi
4) Valutazione di nuovi prodotti e partnership
5) Ricerca di espansione globale
L'azienda ha completato acquisizioni strategiche e partnership per migliorare le proprie capacità nella bonifica dei pozzi e nell'accessibilità al mercato dei crediti di carbonio. Zefiro ha anche lanciato il suo IPO su Cboe Canada e ha iniziato a essere quotata sulle borse di Francoforte e OTCQB.
Zefiro Methane Corp. (ZEFIF) anunció resultados financieros récord para el año fiscal 2024, con ingresos consolidados de $32.8 millones USD y un EBITDA ajustado positivo. La compañía reportó un aumento del 10% en los ingresos del cuarto trimestre a $9.4 millones USD, con una ganancia bruta de $2.9 millones USD (margen del 31%). La estrategia de crecimiento de Zefiro incluye:
1) Generación y distribución de compensaciones de carbono por la reducción de metano
2) Expansión a nuevas geografías en EE. UU.
3) Participación en fondos de infraestructura federales y estatales para sellar pozos
4) Evaluación de nuevos productos y asociaciones
5) Búsqueda de expansión global
La empresa completó adquisiciones estratégicas y alianzas para mejorar sus capacidades en la remediación de pozos y el acceso al mercado de compensaciones de carbono. Zefiro también lanzó su OPI en Cboe Canadá y comenzó a cotizar en las bolsas de Fráncfort y OTCQB.
제피로 메탄 주식회사(ZEFIF)는 2024 회계 연도에 대한 기록적인 재무 결과를 발표했습니다. 이 회사의 통합 수익은 $32.8 밀리언 USD였으며, 조정된 EBITDA는 긍정적인 값을 기록했습니다. 제피로는 4분기 매출이 10% 증가하여 $9.4 밀리언 USD에 달했으며, 총 이익은 $2.9 밀리언 USD (31% 마진)로 보고했습니다. 제피로의 성장 전략은 다음과 같습니다:
1) 메탄 감소로 인한 탄소 배출권 생성 및 배포
2) 미국의 새로운 지역으로 확장
3) 우물 폐쇄를 위한 연방 및 주 정부 인프라 기금 참여
4) 새로운 제품 및 파트너십 평가
5) 글로벌 확장 추진
회사는 우물 복원 및 탄소 배출권 시장 접근성을 향상시키기 위한 전략적 인수 및 파트너십을 완료했습니다. 제피로는 또한 Cboe 캐나다에서 IPO를 시작하고 프랑크푸르트 및 OTCQB 거래소에서 거래를 시작했습니다.
Zefiro Methane Corp. (ZEFIF) a annoncé des résultats financiers records pour l'exercice 2024, avec des revenus consolidés de $32,8 millions USD et un EBITDA ajusté positif. L'entreprise a rapporté une augmentation de 10% des revenus au quatrième trimestre, atteignant $9,4 millions USD, avec un bénéfice brut de $2,9 millions USD (marge de 31%). La stratégie de croissance de Zefiro comprend :
1) L'origine et la distribution de compensations carbone liées à la réduction du méthane
2) L'expansion dans de nouvelles régions des États-Unis
3) La participation aux fonds d'infrastructure fédéraux et d'État pour colmater les puits
4) L'évaluation de nouveaux produits et partenariats
5) La recherche d'une expansion mondiale
L'entreprise a réalisé des acquisitions stratégiques et des partenariats pour améliorer ses compétences en matière de réhabilitation des puits et d'accès au marché des compensations carbone. Zefiro a également lancé son IPO sur Cboe Canada et a commencé à négocier sur les bourses de Francfort et OTCQB.
Zefiro Methane Corp. (ZEFIF) hat für das Geschäftsjahr 2024 Rekordergebnisse bekannt gegeben, mit konsolidierten Einnahmen von $32,8 Millionen USD und positivem bereinigtem EBITDA. Das Unternehmen berichtete von einem 10%-igen Anstieg der Einnahmen im vierten Quartal auf $9,4 Millionen USD, mit einem Bruttogewinn von $2,9 Millionen USD (31%-Marge). Die Wachstumsstrategie von Zefiro umfasst:
1) Ursprung und Verteilung von Kohlenstoffgutschriften aus Methanreduktion
2) Expansion in neue US-Regionen
3) Teilnahme an staatlichen und bundesweiten Infrastrukturmitteln für das Verschließen von Brunnen
4) Bewertung neuer Produkte und Partnerschaften
5) Verfolgung globaler Expansion
Das Unternehmen hat strategische Übernahmen und Partnerschaften abgeschlossen, um seine Fähigkeiten in der Brunnenrenaturierung und den Zugang zum Markt für Kohlenstoffgutschriften zu verbessern. Zefiro hat auch seinen Börsengang an Cboe Kanada gestartet und an den Börsen in Frankfurt und OTCQB zu handeln begonnen.
- Record consolidated revenues of $32.8 million USD for FYE 2024
- 10% increase in Q4 revenue to $9.4 million USD
- Gross profit of $2.9 million USD with 31% margin in Q4
- Positive adjusted EBITDA of $222,453 USD
- Expansion into new U.S. geographies, including Oklahoma
- Strategic acquisitions and partnerships to enhance capabilities
- Successful completion of Pennsylvania's first Bipartisan Infrastructure Law-funded oil well remediation project
- Presale of carbon offset portfolio to EDF Trading
- Net loss of $2,890,536 USD for Q4 2024
- Increase in total operating expenses from $3,448,913 to $4,331,734 USD quarter-over-quarter
The Company generated record revenue of
FORT LAUDERDALE, Fla., Sept. 30, 2024 (GLOBE NEWSWIRE) -- ZEFIRO METHANE CORP. (Cboe Canada: ZEFI) (Frankfurt: Y6B) (OTCQB US: ZEFIF) (the “Company”, “Zefiro”, or “ZEFI”) today announced the Company’s consolidated financial results for the fiscal year ended June 30, 2024 (“FYE 2024”). For the FYE 2024, the Company generated record consolidated revenues of
For the quarter ended June 30, 2024, the Company generated record consolidated revenues of
Please refer to Zefiro’s SEDAR+ profile at www.sedarplus.ca/ for full filings containing these financial results.
Zefiro Founder and Chief Executive Officer Talal Debs PhD commented, “Zefiro’s growth vector is expanding rapidly, and we have come a long way in the last year. Our corporate milestones, combined with our financial success, tell a story of momentum that is positioning the Company as a market leader driven by innovation, foresight, and impact. Our growing team brings the highest level of expertise to detecting and mitigating the large and often dangerous legacy problem of toxic methane emissions.”
In July 2024, Zefiro announced the appointment of Mohit Gupta as Chief Financial Officer. With over thirty years of experience in banking and energy trading, Gupta was one of the key founding members of J.P. Morgan’s Energy Trading business. He said, “Through Zefiro’s new partnerships and acquisitions, the Company now employs the most sophisticated capabilities in the industry and there is tremendous demand for it. Our forward momentum is accelerating swiftly on all fronts – acquisitions, client pipeline, talent acquisition – and we are having meaningful dialogues on global expansion. As an originator and distributor of quality carbon credits, we are positioned to capitalize on the growing need for offsets.”
Zefiro’s business strategy updates include:
1) Originating and distributing quality carbon offsets from reducing methane emissions
Zefiro announced the presale of a portion of its carbon offset portfolio to EDF Trading, a leading player in the international wholesale energy market and part of EDF Group, a global leader in low-carbon energies. Zefiro has expanded its efforts to seal potentially hazardous oil and gas wells and these credits, verified by certified third-party auditors, will be generated from this initiative.
The Company is also actively exploring commercialization opportunities to address the needs of corporate players who have committed to a carbon-neutral footprint by utilizing high-quality offsets such as those originated by Zefiro.
2) Expansion into new U.S. geographies
Zefiro expanded its oil and gas well-plugging operations into Oklahoma, which is expected to result in key growth within numerous markets critical to the environmental services industry, including Louisiana and other southern states, and the expansion of the Company’s portfolio of high-quality carbon offset products. ZEFI also continues to aggressively build out its business in Appalachia.
3) Participation in the allocation of infrastructure funds from federal and state governments to plug orphan wells
Zefiro successfully completed Pennsylvania’s first-ever Infrastructure Investment and Jobs Act (“Bipartisan Infrastructure Law”)-funded oil well remediation project. The federal legislation allocated
4) Continuous evaluation of new products, offerings, and partnerships
ZEFI announced numerous commercial transactions to bolster the Company’s environmental services capabilities. This series of strategic transactions began with the acquisition of Appalachian Well Surveys, Inc. (“AWS”), a Cambridge, Ohio-based wireline company that has provided Zefiro the resources needed to expand their operational capacity within key markets and become the energy sector’s first comprehensive “end-of-life” provider for entities seeking to meet their well-retirement targets. ZEFI subsequently announced that the Company had purchased a minority ownership stake in Winterhawk Well Abandonment Ltd. (“Winterhawk”), a manufacturer of specialized downhole tools and technologies designed to expand casing in oil and gas wells. Specifically, Zefiro subsidiary Plants & Goodwin, Inc. (“P&G”) and Winterhawk entered into an exclusive patent license agreement for Winterhawk’s U.S. patents and the ability to sublicense Winterhawk Products to other entities operating in the United States.
In addition to these strategic investments in the Company’s well remediation services division, Zefiro also took steps to advance ZEFI’s accessibility throughout the global carbon offset marketplace. Specifically, Zefiro announced a strategic partnership with Fiùtur, a multi-party technology platform that provides digital measurement, verification, and Data Governance Framework services to environmental remediation companies. The agreement is aimed at expanding access to Zefiro products throughout the offering’s entire “lifecycle,” and stipulates that Zefiro will begin deploying its comprehensive methane leak abatement services through Fiùtur’s digital trust and verification platform during Q4 of 2024 and participate in Fiùtur’s Series A fundraising campaign.
5) Global expansion and development of a pipeline of opportunities
Zefiro is pursuing global initiatives to market its carbon credit portfolio to multinational corporations and global market participants, including through high-quality carbon offset exchanges.
Notable Highlights:
- The Company generated record consolidated revenues and Adjusted EBITDA for the year ended June 30, 2024.
- On April 23, 2024, the Company launched its Initial Public Offering on the Cboe Canada Inc. stock exchange. Zefiro shares also began trading on the Frankfurt Stock Exchange (“FSE”) under the symbol “Y6B” on May 2, 2024.
- On July 19, 2024, the Company announced that its common shares were listed in the U.S. on the OTCQB – “The Venture Market” – under the symbol “ZEFIF”.
Zefiro Founder and CEO Talal Debs (Left) is pictured with Zefiro CFO Mohit Gupta (Right) in a video recently posted to the Company’s YouTube channel. The video can be viewed by clicking 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.
Second Quarter 2024 Financial Highlights (in USD):
| For the three months ended | June 30, 2024 | March 31, 2024 | ||
| Revenue | ||||
| Gross profit | ||||
| Total operating expenses | ( | ( | ||
| Net loss and comprehensive loss for the period | ( | ( | ||
| Basic and diluted loss per share for the period | ( | ( | ||
| Weighted average shares outstanding | 65,306,863 | 63,826,973 | ||
| Net loss for the period | ( | ( | ||
| Add: | ||||
| Amortization | 1,061,866 | 900,516 | ||
| Interest expense | 391,539 | 396,413 | ||
| Interest Income | (4,176) | - | ||
| Share-based compensation | 142,405 | 7,682 | ||
| Gain on debt modification | 30,559 | (73,737) | ||
| Settlement of convertible promissory note receivable | 87,500 | - | ||
| Loss on sale of equipment | (38,706) | 54,884 | ||
| Change in fair value of investments | - | 7,444 | ||
| Income tax recovery | 566,638 | (116,198) | ||
| Listing Fees | 415,379 | - | ||
| Foreign exchange gain (loss) | 37,995 | - | ||
| One-time transaction expenses | 729,789 | 280,187 | ||
| Adjustment for non-controlling interest | (281,509) | (198,423) | ||
| Adjusted EBITDA1 | ||||
| As at | June 30, 2024 | March 31, 2024 | ||
| Cash | ||||
| Current assets | ||||
| Total assets | ||||
| Total liabilities | ||||
| Total equity | ||||
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
_________________________
1 See Non-IFRS Financial Measures
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 the Company’s 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.
Non-IFRS Financial Measures
Zefiro has included certain performance measures in this press release that do not have any standardized meaning prescribed by International Financial Reporting Standards (IFRS) including: (a) Adjusted EBITDA. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate the Company’s performance and ability to generate cash flow.
(a) Adjusted EBITDA
Adjusted EBITDA is a non-IFRS measure which excludes from net income (loss): amortization, interest expense, share-based compensation, gains or losses on debt modification, gains or losses on sale of equipment, changes in fair value of investments held, income tax expense or recovery, non-recurring expenses related to the Company’s IPO transaction, and net income (loss) attributable to the Company’s non-controlling interest in its subsidiaries. Management uses Adjusted EBITDA to evaluate the Company’s operating performance, to plan and forecast its operations, and assess leverage levels and liquidity measures. The Company presents Adjusted EBITDA as it believes that certain investors use this information to evaluate the Company’s performance in relation to its peers who present on a similar basis (though Adjusted EBITDA does not have a standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers). However, Adjusted EBITDA does not represent and should not be considered an alternative to net income (loss) or cash flow provided by operating activities as determined under IFRS.
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 https://www.globenewswire.com/NewsRoom/AttachmentNg/485c53ef-3b95-4565-98f6-cd7d04b3a44c
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