Zefiro Opens a New Operations Facility in West Virginia to Service Growing Demand, Providing Increased Operational Capacity, Efficiency and Enhanced Profit Margins
07 Maio 2024 - 8:00AM
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 Relations1 (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.
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Disclosures relating to investor relations firms
retained by Zefiro Methane Corp. can be found under the Company's
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An infographic accompanying this announcement is available
at: https://www.globenewswire.com/NewsRoom/AttachmentNg/8a9a79a1-3b91-453e-abc8-55596a0964fe
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