FORT LAUDERDALE, Fla., Feb. 28, 2024 (GLOBE NEWSWIRE) -- ZEFIRO METHANE CORP. (the “Company”, “Zefiro”, or “ZEFI”) today announced that its subsidiary Plants & Goodwin, Inc. (“P&G”), a leading Pennsylvania-based oil and gas well plugging operation, helped complete a well plugging project within the Cuyahoga Valley National Park near Akron, Ohio. The unplugged wells, which P&G were subcontracted to help seal by North Wind Site Services, LLC (“North Wind”), were located near the park’s Ohio & Erie Canal Towpath Trail, and the project was completed to ensure that the sites would not develop into environmental hazards that could threaten the health of the park’s staff and visitors.
Pictured: A member of Zefiro’s on-site crew at Cuyahoga Valley National Park near Akron, Ohio helping seal an unplugged oil well.
Readers using news aggregation services may be unable to view the media above. Please access the Investors section of the Company’s website for a version of this press release containing all published media.
The project is the latest in a series of publicly-funded, groundbreaking assignments that Zefiro and its subsidiaries have undertaken to help address this nationwide problem, including helping complete the State of New York’s first orphan well plugging operation that used funding from the Infrastructure Investment and Jobs Act (“Bipartisan Infrastructure Law”). According to the latest expert estimates, there are millions of orphaned and abandoned oil and gas wells throughout the U.S., with the potential for many of these sites to be unplugged.
“Whether an unplugged oil and gas well is located next to a school, business, or just off a trail of one of America’s most beautiful national parks, the potential environmental risk it poses cannot be allowed to fester,” said Talal Debs, Founder & Chief Executive Officer, Zefiro Methane Corp. “Our team is proud to have worked side-by-side with our federal government and industry colleagues to complete this important project, and we look forward to helping more communities throughout the country confront this legacy public health issue.”
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
(347) 774-1125
About Zefiro Methane Corp.
Zefiro develops methodologies to reduce methane emissions by plugging orphaned and abandoned oil/gas wells, while originating carbon offsets. Under executive leadership to include the former carbon market team at J.P. Morgan, Zefiro actively deploys crews to decommission wells throughout the United States. With unprecedented global demand for carbon offsets as corporations and institutions work towards net-zero targets, Zefiro is strategically aligning with industry leaders for a greener future.
Forward-Looking Statements
This press 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. Forward-looking information in this press release includes statements regarding the Company, the Company’s business, the industry in which the Company operates, the Company’s opportunities, strategies, competition, expected activities and expenditures as the Company pursues its business plan, the adequacy of the Company’s available cash resources and other statements about future events or results. 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: (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; and (iv) other factors beyond the control of the Company. 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. The forward-looking information is based on a number of assumptions, including assumptions regarding general market conditions, the availability of financing for proposed transactions and programs on reasonable terms, and the ability of outside service providers to deliver services in a satisfactory and timely manner. The forward-looking information included in this press release are made as of the date of this press 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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5f9b2186-70f8-4f7b-8187-82fca51f0482
