FORT LAUDERDALE, Fla., May 07, 2024 (GLOBE NEWSWIRE) -- ZEFIRO METHANE CORP. (Cboe Canada: ZEFI) (Frankfurt: Y6B) (the “Company”, “Zefiro”, or “ZEFI”) is pleased to announce that its subsidiary Plants & Goodwin, Inc. (“P&G”) has opened another facility in Appalachia. It is expected the new facility will significantly increase efficiency resulting in higher profit margins. Situated in the town of Buckhannon (Upshur County), this yard is centrally located within the state of West Virginia. P&G currently has a pipeline in West Virginia of more than USD $700,000 worth of environmental services projects for 2024. All of P&G’s current and upcoming projects in West Virginia are with long-standing industry relationships, while this new facility will create the opportunity for partnership with state resources in West Virginia.
By opening this yard in Buckhannon, West Virginia, Zefiro expects to realize several benefits and strategic advantages, including the following:
- Reduced costs (labor hours, fuel, etc.) and transportation emissions for environmental remediation project work in West Virginia;
- With these reduced costs, profit margins for projects in West Virginia could be increased by up to 15% from their current levels;
- Increased project completion speed, allowing more methane leaks to be remediated;
- Ability to more aggressively bid on projects in the state of West Virginia, including those funded by the Bipartisan Infrastructure Law which provides USD $4.7 billion for these types of remediation projects; and
- Official presence in West Virginia allows P&G to increase efficiency and further build out its presence in the state.
The opening of this yard marks P&G’s second geographic footprint expansion in the past six months, following its acquisition of a wireline service provider in Cambridge, Ohio in December 2023.
Zefiro published a video on its YouTube channel in which Luke Plants explains the significance of the opening of P&G’s new operations facility in West Virginia. The video can be viewed by clicking on this link.
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Zefiro Founder and CEO Talal Debs PhD commented, “Building our ground capabilities in Appalachia is an exciting part of Zefiro’s evolution as a fully integrated environmental services company. Opening a yard in central West Virginia gives Zefiro many strategic operational advantages… both for cost and time efficiencies, as well as an official presence in the Mountaineer state where there are many orphan methane leaks to be remediated, with an abundance of both public and private funds allocated for doing so. The year 2024 has already been very busy for this segment of Zefiro’s business, and this expansion will provide us with even more bandwidth for servicing a greater volume of methane leak sites.”
Zefiro Senior Vice President of Business Development Luke Plants commented, “We expect that cutting out the six-hour drive between P&G’s Bradford, PA headquarters and job sites in or near West Virginia will considerably shorten our project completion timelines. This can also increase our bandwidth to carry out environmental remediation work throughout Appalachia, as we continue to see growing demand for our services from natural gas E&Ps, private landowners, and public-sector entities alike. With the need to stop methane emissions at their source funded through both private and public financing channels, strategic moves such as opening this yard in Buckhannon, WV will allow us to operate even more efficiently as a key player in the Active Sustainability equation.”
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, including available funding under the Bipartisan Infrastructure Law; 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; the effects on efficiency, cost-savings and profit margins derived from the new facility in Buckhannon, West Virginia; the materialization of new partnerships in West Virginia; 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.
An infographic accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/8a9a79a1-3b91-453e-abc8-55596a0964fe
