FORT LAUDERDALE, Fla., April 29, 2024 (GLOBE NEWSWIRE) -- ZEFIRO METHANE CORP. (Cboe Canada: ZEFI) (the “Company”, “Zefiro”, or “ZEFI”) is pleased to announce that it has successfully completed its first listing on American Carbon Registry (“ACR”). This listing has been “in the works” since approximately May of 2023, when Zefiro announced that it was accelerating its operations in light of a new ACR methodology that allows for carbon credits to be originated through specific types of environmental remediation. This is the first milestone towards Zefiro’s objective to monetize its activities that eliminate methane emissions from orphaned sites in the United States.
Zefiro Founder and Chief Executive Officer Talal Debs PhD commented, “Our team has been working feverishly behind the scenes to execute on what can only be described as a landmark development for Zefiro. Real carbon credits, as in the ones that major corporations and institutions actually purchase, cannot be generated overnight or simply pulled out of thin air. Not only must all ACR projects meet its extensive and rigorous Validation and Verification Standard, ACR also requires additional review and approval by an external third-party validator. After working on this for nearly a year following the announcement of ACR’s latest methodology, I congratulate the Zefiro Environmental Markets Team on this impressive accomplishment as Zefiro further establishes its market position as an environmental services company.”
Zefiro Chief Commercial Officer Tina Reine said, “Being listed on ACR is a notable achievement for Zefiro as an emerging player in the carbon markets. Since being founded in 2021, Zefiro has sought to navigate an unprecedented market landscape in which carbon credits can be originated from environmental remediation projects in the United States, which can then fill the persisting demand for high-quality offsets from industries around the world. Our first ACR listing is a very meaningful indicator of the progress our team has made, and we look forward to continuing to build up this momentum in 2024!”
In April 2024, Zefiro’s first project listing was made public on American Carbon Registry, which was established in 1996 as the world’s first carbon crediting program and remains one of the largest and most prestigious programs in the industry to this day.
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In the GHG Project Listing form (also known as a “Project Design Document”), the expected project start date of Friday, May 24, 2024 is listed, which corresponds to the anticipated confirmation of no methane emissions after each site is remediated. This date is also the beginning of the twenty-year expected crediting period of May 24, 2024 to May 23, 2044.
More information about this project can be found in the Project Design Document, which is available for download from ACR’s website through the following link: https://acr2.apx.com/mymodule/reg/TabDocuments.asp?r=111&ad=Prpt&act=update&type=PRO&aProj=pub&tablename=doc&id1=959
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 Relations
1 (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 the Prospectus 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/7b9fb0d0-83ef-4dce-a03e-afce0ef8f77b
