Zefiro Methane Corp. Subsidiary Awarded Slate of Government of Ohio-Funded Environmental Remediation Projects
Zefiro Methane Corp (ZEFIF) announced that its subsidiary Plants & Goodwin has been awarded eight projects by Ohio's state government to plug 50 oil and gas wells, with 20% already completed. The company has deployed four full-sized rigs across Ohio for the remaining wells.
In 2023, Zefiro remediated 200 methane well sources, eliminating approximately 100,000 tons of CO2 equivalent. The Ohio Department of Natural Resources has identified approximately 19,000 orphan wells in the state, with potential access to USD $634 million in funding through 2035 for plugging abandoned wells.
The company has expanded its operations across North America, including opening a new facility in West Virginia, acquiring Ohio and Pennsylvania-based entities, and partnering with various government entities including the U.S. National Park Service, State of New York, Commonwealth of Pennsylvania, and Province of Alberta.
Zefiro Methane Corp (ZEFIF) ha annunciato che la sua controllata Plants & Goodwin ha ricevuto otto progetti dal governo dello stato dell'Ohio per chiudere 50 pozzi di petrolio e gas, con il 20% già completato. L'azienda ha schierato quattro trivelle di dimensioni complete in tutto l'Ohio per i pozzi rimanenti.
Nel 2023, Zefiro ha bonificato 200 fonti di pozzi di metano, eliminando circa 100.000 tonnellate di CO2 equivalente. Il Dipartimento delle Risorse Naturali dell'Ohio ha identificato circa 19.000 pozzi orfani nello stato, con potenziale accesso a 634 milioni di dollari in finanziamenti fino al 2035 per il plugging dei pozzi abbandonati.
L'azienda ha ampliato le sue operazioni in Nord America, aprendo una nuova struttura in Virginia Occidentale, acquisendo entità con sede in Ohio e Pennsylvania, e collaborando con vari enti governativi tra cui il Servizio Nazionale Parco degli Stati Uniti, lo Stato di New York, il Commonwealth della Pennsylvania e la Provincia di Alberta.
Zefiro Methane Corp (ZEFIF) anunció que su subsidiaria Plants & Goodwin ha sido adjudicada ocho proyectos por parte del gobierno del estado de Ohio para sellar 50 pozos de petróleo y gas, con el 20% ya completado. La compañía ha desplegado cuatro plataformas de tamaño completo en todo Ohio para los pozos restantes.
En 2023, Zefiro remediió 200 fuentes de pozos de metano, eliminando aproximadamente 100,000 toneladas de CO2 equivalente. El Departamento de Recursos Naturales de Ohio ha identificado aproximadamente 19,000 pozos huérfanos en el estado, con acceso potencial a 634 millones de dólares en financiamiento hasta 2035 para sellar los pozos abandonados.
La empresa ha ampliado sus operaciones en América del Norte, incluyendo la apertura de una nueva instalación en Virginia Occidental, la adquisición de entidades basadas en Ohio y Pennsylvania, y asociaciones con varias entidades gubernamentales, incluyendo el Servicio Nacional de Parques de EE. UU., el Estado de Nueva York, el Commonwealth de Pennsylvania y la Provincia de Alberta.
제피로 메탄 주식회사 (ZEFIF)는 자회사인 Plants & Goodwin이 오하이오 주 정부로부터 50개의 석유 및 가스 우물을 막기 위한 8개의 프로젝트를 수주했다고 발표했습니다. 이 중 20%는 이미 완료되었습니다. 이 회사는 나머지 우물을 위해 오하이오 전역에 4개의 대형 시추 장비를 배치했습니다.
2023년 동안 제피로는 200개의 메탄 우원원을 정화하여 약 100,000톤의 CO2에 해당하는 양을 제거했습니다. 오하이오 자연자원국은 해당 주에서 약 19,000개의 고아 우물을 확인했으며, 버려진 우물을 막기 위해 2035년까지 6억 3천 4백만 달러의 자금에 대한 잠재적 접근이 가능합니다.
회사는 북미 전역으로 사업을 확장했으며, 웨스트버지니아에 새로운 시설을 열고, 오하이오 및 펜실베니아의 회사를 인수하며, 미국 국립공원 서비스, 뉴욕주, 펜실베니아 연방 및 알버타 주와 같은 여러 정부 기관과 협력하고 있습니다.
Zefiro Methane Corp (ZEFIF) a annoncé que sa filiale Plants & Goodwin a été attribuée huit projets par le gouvernement de l'État de l'Ohio pour colmater 50 puits de pétrole et de gaz, dont 20 % sont déjà achevés. L'entreprise a déployé quatre plateformes de grande taille à travers l'Ohio pour les puits restants.
En 2023, Zefiro a remédié 200 sources de puits de méthane, éliminant environ 100 000 tonnes d'équivalent CO2. Le Département des Ressources Naturelles de l'Ohio a identifié environ 19 000 puits orphelins dans l'État, avec un accès potentiel à 634 millions de dollars de financement d'ici 2035 pour colmater les puits abandonnés.
L'entreprise a élargi ses opérations en Amérique du Nord, en ouvrant une nouvelle installation en Virginie-Occidentale, en acquérant des entités basées en Ohio et en Pennsylvanie, et en s'associant à divers organismes gouvernementaux, notamment le Service National des Parcs des États-Unis, l'État de New York, le Commonwealth de Pennsylvanie et la Province de l'Alberta.
Zefiro Methane Corp (ZEFIF) gab bekannt, dass ihre Tochtergesellschaft Plants & Goodwin acht Projekte von der Regierung des Bundesstaates Ohio erhalten hat, um 50 Öl- und Gasgewell zu schließen, wobei bereits 20 % abgeschlossen sind. Das Unternehmen hat vier vollwertige Bohranlagen in ganz Ohio für die verbleibenden Wells eingesetzt.
Im Jahr 2023 hat Zefiro 200 Methanquellen saniert und dabei etwa 100.000 Tonnen CO2-Äquivalent eliminiert. Das Ressourcenministerium von Ohio hat etwa 19.000 Waisenbrunnen im Bundesstaat identifiziert, mit potenziellem Zugang zu 634 Millionen USD an Fördermitteln bis 2035 für das Schließen aufgegebener Brunnen.
Das Unternehmen hat seine Aktivitäten in Nordamerika erweitert, indem es eine neue Einrichtung in West Virginia eröffnet, Unternehmen in Ohio und Pennsylvania übernommen und Partnerschaften mit verschiedenen Regierungsbehörden, darunter den U.S. National Park Service, den Bundesstaat New York, das Commonwealth von Pennsylvania und die Provinz Alberta, eingegangen ist.
- Secured eight new government projects in Ohio
- Already completed 20% of the 50-well remediation project
- Remediated 200 methane sources in 2023, eliminating 100,000 tons of CO2 equivalent
- Access to potential $634M government funding pool through 2035
- Geographic expansion through strategic acquisitions and new facilities
- None.
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, Fla., Jan. 14, 2025 (GLOBE 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
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
Pictured above: Zefiro Methane Corp. on-site at an active plugging operation.
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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.
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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/68f730df-50d8-44b4-9815-25c5ce1da68e
FAQ
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