Core Insights - Zefiro's subsidiary, Plants & Goodwin, Inc. (P&G), has secured multiple state-funded contracts in Ohio, including a recent project worth USD $522,233 for orphan well remediation in Morrow County [1][2][4] - The company has been awarded a total of USD $20.02 million in contracts this year, including a USD $19.6 million contract for plugging and abandonment management [1][4] - Zefiro's growth in environmental remediation services is a key driver for shareholder value, with ongoing initiatives in emission offset credits [3] Contract Awards - P&G was awarded a USD $522,233 contract for the Morrow 8 project, which involves plugging four orphan wells and excavating two others [2] - Earlier in 2025, P&G received a USD $19.6 million contract for a similar project in Belmont County, further solidifying its position in Ohio [4] - The company has remediated 28 wells in 2025 and has 23 additional wells under contract [5] Market Context - The Ohio Department of Natural Resources (ODNR) reported a significant increase in orphan well plugging, from 15 wells in the 2017 fiscal year to 478 in 2025 [5] - Zefiro's P&G has over 100 crew members and is recognized as a leader in oil and gas well remediation in the Appalachia region [5][6] - The Columbus metro area, with a population of over 2.1 million, highlights the urgency of addressing the unplugged well crisis [7] Company Overview - Zefiro Methane Corp. specializes in methane abatement and aims to be a significant player in the environmental services sector [8] - The company is focused on creating long-term economic, environmental, and social returns through innovative solutions for methane leaks [8]

Core Viewpoint - Zefiro Methane Corp. has secured a significant contract worth USD 19.6 million for environmental remediation projects aimed at reducing methane emissions from marginal oil and gas wells in Ohio, which is expected to enhance the company's operational and financial performance [2][6]. Group 1: Contract Details - Zefiro's subsidiary, Plants & Goodwin, Inc. (P&G), has been selected as the prime contractor for a three-year Construction Manager at Risk (CMAR) contract administered by the Ohio Department of Natural Resources (ODNR) [2][5]. - The contract will involve managing the plugging and abandonment activities for approximately 200 high-priority marginal wells throughout Ohio [3][5]. - The project is funded through a federal grant program specifically aimed at reducing methane emissions from these wells [2][3]. Group 2: Business Impact - This contract represents a significant business opportunity for Zefiro and is anticipated to have a material effect on the company's operations and financial results [6]. - The project is expected to create long-term jobs in Ohio while addressing environmental damage caused by methane emissions [7]. - Zefiro aims to leverage its existing assets and workforce in Ohio to optimize the project's execution [7]. Group 3: Company Overview - Zefiro Methane Corp. specializes in environmental services focused on methane abatement and aims to be a key player in the Active Sustainability movement [7]. - The company is building a comprehensive operational framework to address methane leaks and generate economic, environmental, and social returns [7].

Core Viewpoint - Zefiro Methane Corp. has appointed Catherine Flax as Interim Chief Executive Officer, bringing extensive experience in investment banking and a commitment to leading the company in the evolving energy sector [2][5][6]. Company Overview - Zefiro Methane Corp. specializes in methane abatement and aims to be a significant player in the Active Sustainability movement, focusing on cleaning up air, land, and water sources affected by methane leaks [9]. - The company is recognized as North America's largest single plugger of wells and an originator of high-quality carbon offsets [1]. Leadership Background - Catherine Flax has a notable background, having served as Head of Commodity Derivatives (Americas) at BNP Paribas and CEO of Commodities EMEA at J.P. Morgan. She was named the Most Influential Woman in European Investment Banking in 2012 [3]. - Flax is also involved with the Securities Industry and Financial Markets Association (SIFMA) and serves on the board of the Independent System Operator for the New England Transmission grid [3]. Recent Activities - In 2025, Flax has been active in promoting Zefiro's initiatives, including speaking engagements and media appearances related to investment in alternative energy sources [4]. - The appointment of Flax follows the departure of Talal Debs, the previous CEO, who was recognized for his contributions as the company's founder [5]. Strategic Vision - Flax expressed a commitment to leading Zefiro through a period of growth and opportunity in the U.S. energy and resource sectors, emphasizing the company's readiness to adapt to technological and regulatory changes [6]. - The company aims to build the largest oilfield decommissioning business in North America while producing high-quality carbon offsets in the voluntary market [8].

FORT LAUDERDALE, Fla., June 03, 2025 (GLOBE NEWSWIRE) -- ZEFIRO METHANE CORP. (Cboe Canada: ZEFI) (Frankfurt: Y6B) (OTCQB: ZEFIF) (the “Company”, “Zefiro”, or “ZEFI”) today announced the appointments of Board of Directors member Correne Loeffler and Michael Downs as the Chair of the Audit Committee and interim Chief Financial Officer, respectively. Ms. Loeffler and Mr. Downs will execute strategies that bolster Zefiro’s long-term financial standing and help ensure that the Company continues to accelerate th ...

Core Insights - Zefiro Methane Corp. reported its consolidated financial results for the fiscal quarter ending March 31, 2025, highlighting both challenges and growth opportunities in its operations [1][3]. Financial Performance - Revenue for fiscal quarter 3 was $6.9 million, a decrease from $8.5 million in the same quarter of 2024 [10]. - Gross profit was $1.0 million, representing a 73.7% increase from the previous quarter [7]. - The net loss for the period was $3.5 million, compared to a loss of $0.9 million in the same quarter of 2024 [10]. - Total operating expenses increased to $4.4 million from $3.4 million year-over-year [10]. - Adjusted net income for the quarter was a loss of $2.0 million, compared to a loss of $0.4 million in the same quarter of 2024 [10][16]. Business Strategy and Operations - Zefiro is expanding its operational footprint in the U.S., focusing on regions with orphaned and abandoned oil and gas wells, particularly in Ohio and Pennsylvania [4]. - The company is involved in projects funded by the Ohio Department of Natural Resources, which has approximately $78 million allocated for plugging over 36,000 known wells [4]. - Zefiro's subsidiary, Plants & Goodwin, has initiated new remediation projects and is also reviewing over 1,000 wells for its "Loyal to the Land" initiative, offering no-cost remediation to qualifying landowners [5][6]. - A long-term agreement with Pompano Resource Transformation aims to accelerate well-plugging activities and reduce environmental liabilities [6]. Market Position and Future Outlook - Zefiro's revenue for the first three quarters of fiscal year 2025 increased approximately 5% to $24.4 million compared to $23.4 million in the same period of 2024 [7]. - The company is preparing to deliver high-quality carbon offsets to customers, responding to rising demand from Fortune 1000 companies and energy firms [8]. - Zefiro has engaged TÜV SÜD as a third-party validation body for its carbon offset projects, marking a significant step in monetizing its environmental remediation efforts [9]. - The introduction of AI-enabled data analytics is expected to improve operational efficiency by approximately 50% [9]. Asset and Liability Overview - As of March 31, 2025, Zefiro reported total assets of $22.1 million and total liabilities of $19.6 million, resulting in total equity of $2.5 million [11].

Core Viewpoint - Zefiro Methane Corp. has secured multiple new contracts for environmental remediation services, particularly in oil and gas well plugging, indicating a growing demand for its services in key markets across the United States [1][6]. Group 1: New Contracts and Projects - Zefiro's subsidiary, Plants & Goodwin, Inc. (P&G), has obtained contracts from the Ohio government for ten wells in Ashtabula County, under the Ohio Department of Natural Resources [1]. - In January, P&G was awarded eight state-funded well remediation projects in Ohio, involving a total of 50 oil and gas wells, with 28 already plugged [1]. - P&G has also secured environmental remediation contracts in Pennsylvania, including a new account, to plug 15 oil and gas wells [2]. Group 2: Recent Achievements - P&G recently completed a package of Pennsylvania-funded oil and gas well remediation projects, plugging 18 wells in Clarion County, including a site that was releasing toxins into a water supply, costing nearly $500,000 to remediate [3]. - Zefiro continues to perform remediation work across the Appalachian region, addressing the issue of unplugged oil and gas wells that may emit methane [5]. Group 3: Company Strategy and Market Position - The CEO of Zefiro highlighted the increasing demand for the company's environmental remediation services and the expansion of its client base across Appalachia [6]. - Zefiro aims to provide innovative, market-based solutions to tackle public health issues related to methane emissions from oil and gas wells [6]. - The company is focused on building a fully integrated operation to address methane leaks and generate long-term economic, environmental, and social returns [8].