FORT LAUDERDALE, Fla., July 24, 2025 (GLOBE NEWSWIRE) -- ZEFIRO METHANE CORP. (Cboe Canada: ZEFI) (Frankfurt: Y6B) (OTCQB: ZEFIF) (the “Company”, “Zefiro”, or “ZEFI”) is pleased to announce that its subsidiary Plants & Goodwin Inc. (“P&G”) has been awarded an orphan well plugging project in Morrow County, Ohio (near the Columbus metro area) funded by the Ohio Department of Natural Resources (“ODNR”). The Morrow 8 project consists of four orphan wells to be plugged in the townships of Washington and Perry, as well as two wells to be excavated, cut off below grade, and plated in the townships of Gilead and Perry. P&G was the prevailing bidder for Morrow 8, and was awarded its Scope of Work with a winning bid of USD $522,233.
The Scope of Work for the Morrow 8 project can be found on the ODNR’s website at the following link: https://dam.assets.ohio.gov/image/upload/ohiodnr.gov/documents/oil-gas/contractor/SOW-Morrow_8.pdf
In Zefiro’s recent Letter from the Interim CEO to Shareholders, Catherine Flax detailed how growth in the Company’s core business of environmental remediation services is currently the backbone for driving shareholder value as Zefiro continues its initiatives in adjacent business areas such as the origination of emission offset credits, which have already been pre-sold to Mercuria and EDF Trading.
At the end of June 2025, Zefiro announced that P&G had also been awarded the Scope of Work for Belmont 6, an ODNR orphan well project in Belmont County (on the eastern edge of Ohio). Earlier this year, ODNR awarded P&G a USD $19.6 million plugging and abandonment management contract, further strengthening its presence in the state of Ohio as it ramps up efforts to remediate unplugged oil and gas wells.
In an NPR article dated July 8, 2025, ODNR Director Mary Mertz stated that the State of Ohio plugged 353 orphan wells in its 2024 fiscal year and 478 orphan wells in its 2025 fiscal year, marking a considerable increase from just 15 wells plugged in its 2017 fiscal year. P&G has remediated 28 wells so far in the calendar 2025 year under Ohio’s state-funded program, with an additional 23 wells presently under contract.
With over 100 crew members, Zefiro subsidiary P&G is a 55-year established leader in several types of work pertaining to oil/gas wells in the Appalachia region of the U.S. in states including Ohio, Pennsylvania, West Virginia, and New York State.
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Zefiro Senior Vice President of Corporate Development and P&G’s Chief Executive Officer Luke Plants commented, “Zefiro continues to build on its strong historical success in Ohio, which is a key market in the environmental remediation services space given the number of wells that have been drilled across the state over the past several generations. The Columbus, Ohio metro area has more than 2.1 million residents (per the 2020 U.S. Census), and the proximity of Morrow County to this population hub truly underscores how close the unplugged well crisis is to the communities in which so many Americans and their families live. We are pleased to have this opportunity to make a difference by way of taking on the Morrow 8 project, and we look forward to continuing to play an active role in cleaning up precious land, water, and air resources one well at a time.”
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.
Catherine Flax
“Interim Chief Executive Officer”
For further information, please contact:
Zefiro Investor Relations
1 (800) 274-ZEFI (274-9334)
investor@zefiromethane.com
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/.
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