The Company achieved numerous commercial milestones in 2024, including increased profitability, launching an initial public offering, moving into new marketplaces, securing key strategic acquisitions and partnerships, and finalizing landmark carbon offset presales
FORT LAUDERDALE, Fla., Dec. 19, 2024 (GLOBE NEWSWIRE) -- ZEFIRO METHANE CORP. (Cboe Canada: ZEFI) (Frankfurt: Y6B) (OTCQB: ZEFIF) (the “Company”, “Zefiro”, or “ZEFI”), an environmental services company specializing in methane abatement operations, took numerous steps in 2024 to accelerate the Company’s profitability and commercial momentum. Specifically, Zefiro’s success over the past twelve months can be attributed to its execution of the Company’s strategy to expand its commercial footprint in critical marketplaces across North America and generate industry-leading, American Carbon Registry-approved carbon credits via an expanding, nationwide orphaned oil and gas well plugging operation.
By actively advancing numerous strategic initiatives and bolstering its internal infrastructure throughout 2024, Zefiro is poised to remain at the forefront of the environmental services industry and reach yet another slate of notable accomplishments in the year ahead.
The Company’s 2024 highlights include:
Recording consolidated revenues of USD $32.8 million and a positive adjusted EBITDA (that was doubled over the previous quarter) on the Company’s 2024 year-end earnings report;
Facilitating an Initial Public Offering (IPO) on the Cboe Canada, Inc. stock exchange, with a subsequent listing on the Frankfurt Stock Exchange. Zefiro's common shares are also now quoted on the OTCQB in the U.S. under the symbol ZEFIF;
Entering into a landmark methane abatement offset market-setting presale agreement with EDF Trading, adding to Zefiro's pipeline of carbon offset pre-sales with the first delivery of offset products set to take place in the new year;
Finalizing a number of strategic acquisitions and corporate partnerships, including the whole-sale acquisition of Plants & Goodwin, a Pennsylvania-based oil and gas well plugging operation;
Bolstering the Company’s senior leadership team by appointing longtime Wells Fargo executive Mohit Gupta as the Chief Financial Officer and Bain & Company alumnus Richard Walker to serve as Chief Technology Officer; and
Crew members contracted by Zefiro subsidiary Plants & Goodwin on-site at an Ohio-based well plugging operation in November 2024.
Crew members contracted by Zefiro subsidiary Plants & Goodwin on-site at an Ohio-based well plugging operation in November 2024.
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Zefiro Founder and Chief Executive Officer Talal Debs commented, “From our plugging crews completing projects across the country to our expert team of carbon market specialists connecting with customers throughout the world, we have strived to invest in the resources needed to position each of our dedicated team members for success. The string of new milestones that we have been able to achieve over the past twelve months is directly linked to our senior management team’s commitment to that process, and I am incredibly proud that the progress that our team has earned in 2024 will guide our positive commercial momentum well into the future.”
Zefiro Chief Financial Officer Mohit Gupta commented, “2024 has been a transformative year for Zefiro, and our ability to garner sustainable, increasing returns for our investors is a direct result of the unwavering dedication and expertise of our entire team. Through consistent execution of our comprehensive, client service-oriented strategy, we have established our position as a market leader, forged a consistent pipeline of project opportunities, and helped more communities safeguard public health.”
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,
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.
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/.
