FORT LAUDERDALE, Fla., April 01, 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”) successfully completed a package of Commonwealth of Pennsylvania-funded projects in Clarion County, Pennsylvania. Specifically, P&G remediation specialists plugged a tranche of 18 orphan oil and gas well across the county, which included one site that was located six feet from a residence’s water well that the Pennsylvania Department of Environmental Protection (“PADEP”) confirmed was releasing excess iron into the site’s drinking water, rendering it unusable. Recent data has estimated that 13 million households in the United States rely on a private well as their primary source of drinking water and that 14 million Americans live within one mile of a documented orphan oil or gas well.
As an established and certified service provider to several federal and state agencies across the country, including the PADEP, P&G was engaged as a subcontractor by Northwind Site Services to undertake this time-sensitive remediation project to restore residents’ drinking water supply. Between contributions from P&G and other service service providers, the total cost to plug this well was nearly $500,000, which is significantly higher than the average cost of $105,000 per well plugged. The PADEP has identified over 27,000 similar orphaned and abandoned well sites across the commonwealth and is currently working with P&G and other contractors to prioritize those posing the greatest risks to public health.
More details about this remediation project can be found on the following page of the PADEP’s website: https://www.ahs.dep.pa.gov/NewsRoomPublic/articleviewer.aspx?id=22484&typeid=1
Picture: P&G crew members work to plug a leaking orphan well within a project that took place in Pennsylvania
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Zefiro Founder and CEO Talal Debs commented, “No family should ever have to question the safety of their drinking water due to an abandoned, deteriorating oil or gas well. From leaking hazardous methane gas to releasing dangerous metals, these decades-old wells have the potential to upend the everyday lives of millions of Americans, and Zefiro will continue working with the Pennsylvania Department of Environmental Protection and other state agencies across the country to identify and remediate sites that seriously threaten drinking water sources and other everyday necessities.”
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 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.
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/08f51851-b347-4ff9-aca8-5253bf2c6a11
