ZEFIRO METHANE CORP. (Cboe Canada: ZEFI) (Frankfurt: Y6B)
(the “Company”, “Zefiro”, or “ZEFI”) today announced the
presale of a portion of its carbon offset portfolio to EDF Trading,
a leading player in the international wholesale energy market and
part of EDF Group, a global leader in low-carbon energies. Zefiro
has expanded its efforts to seal potentially hazardous oil and gas
wells and these credits, verified by certified third-party
auditors, will be generated from this initiative.
Financial terms of the transaction were not disclosed.
The agreement further establishes Zefiro as a leader in carbon
offsets generated by methane abatement, which had its value and
efficacy certified by a 2023 American Carbon Registry report.
Industry experts currently estimate that there is a great number of
abandoned oil and gas wells spread throughout 26 different states,
and these sites can potentially leak toxic methane gas 28 times
more hazardous than carbon dioxide emissions, diminish air quality,
and irreparably harm critical land and drinking water
resources.
EDF Trading is a leading player in the
international wholesale energy market and part of EDF Group, a
global leader in low-carbon energies
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“For over two years, our team has strived to position Zefiro at
the vanguard of the carbon offset marketplace from the reduction of
methane,” said Talal Debs, Founder and Chief Executive
Officer, Zefiro Methane Corp. “Our emphasis on quality has
helped define this rapidly evolving sector, and we are proud to
have taken this latest step forward with a firm that has long
operated at the leading-edge of the energy commodities space.”
“While carbon dioxide is the more widely recognized threat,
methane emissions are responsible for a great portion of global
warming today,” said Dr. Thomas Schroder, Head of
Environmental Products, EDF Trading. “Sealing abandoned
gas and oil wells is a very obvious solution to address this
challenge and gives us an opportunity to offer high-quality carbon
offsets from methane reduction.”
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.
About EDF Trading
EDF Trading, the wholly-owned trading arm of EDF (Électricité de
France), is a leader in the international wholesale energy markets.
The company manages a portfolio of assets which give it the ability
to source, supply, transport, store, blend and convert physical
commodities around the world. These capabilities enable EDF Trading
to deliver essential asset optimization services, risk management
and wholesale market access to the EDF Group and its third-party
customers, helping them to realize the value inherent in their
asset portfolios.
EDF Trading is an active player in the main carbon compliance
markets in the EU, UK and the US supporting businesses around the
world to achieve their environmental goals through the voluntary
carbon markets. EDF Trading provides market access for EUAs, UKAs
and RECs, as well as hedging services to meet businesses’ internal
requirements. In the voluntary carbon markets, EDF Trading partners
with various project developers to support the development and
offtake of carbon credits upstream, offering bespoke solutions from
a growing portfolio of selected high quality carbon projects
spanning different technologies, methodologies and geographies.
More information about EDF Trading can be found at the following
link: https://www.edftrading.com/
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; 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/.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/5d067543-f73e-4345-86a5-b60875a34126
Zefiro Methane (NEO:ZEFI)
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