Zefiro Lands its First-Ever Methane Monitoring Contract as Part of the EPA's Methane Emissions Reduction Program (MERP)
This program is federally funded under the Inflation Reduction Act ("IRA") which specifically provides USD $850 million in grants to reduce, monitor, measure, and quantify methane emissions from the oil and gas sector. The contract recently awarded to Zefiro by the West Virginia Department of Environmental Protection was expanded beyond its initial scope, and will earn Zefiro approximately USD $800,000 in total revenue upon completion of all measurement visits and well-locating tasks.
July 28, 2025 7:30 AM EDT | Source: Zefiro Methane Corp
Fort Lauderdale, Florida--(Newsfile Corp. - July 28, 2025) - ZEFIRO METHANE CORP. (Cboe CA: ZEFI) (FSE: Y6B) (OTCQB: ZEFIF) (the "Company", "Zefiro", or "ZEFI") is pleased to announce that the Company has been awarded its very first slate of project work that primarily consists of methane monitoring, marking a strategic expansion of Zefiro's business into this rapidly growing category of environmental services. The West Virginia Department of Environmental Protection ("WVDEP") has awarded Zefiro a project consisting of pre-plugging and post-plugging methane quantification, in addition to locating oil/gas wells for the purpose of identifying them as candidates to be plugged. Based on an increased scope of work provided by the WVDEP, Zefiro will realize approximately USD $800,000 in revenue from carrying out this project as a subcontractor to North Wind Site Services.
This project is funded under the Inflation Reduction Act through its Methane Emissions Reduction Program ("MERP"), which provides USD $1.36 billion in financial and technical assistance to accelerate methane and other greenhouse gas (GHG) emissions reductions in the oil and natural gas sector. In a news release dated December 20, 2024, the U.S. Environmental Protection Agency ("EPA") and U.S. Department of Energy ("DOE") announced USD $850 million in funding specifically for reducing, monitoring, measuring, and quantifying methane emissions from the oil and gas sector.
Please click here for a 2025 infographic from the EPA summarizing the Methane Emissions Reduction Program.
The addition of methane monitoring to Zefiro's core services complements its existing business activities in the areas of environmental remediation and the origination of institutional-grade carbon emission offsets. Zefiro's field personnel meet several key requirements for methane emission measurement work including a minimum 480 hours of field experience in screening, measurement, and quantification in accordance with U.S. DOE National Energy Technology Laboratory (NETL) standards.
Through funding from the Inflation Reduction Act, Zefiro will conduct pre and post-plugging measurements for an allotment of well sites in West Virginia in order to quantify the amount of methane emissions removed from the plugging of each well
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Zefiro Interim Chief Executive Officer Catherine Flax commented, "Methane monitoring is something that we were already doing at Zefiro as part of our due diligence in originating carbon offsets, in order to quantify the amount of emissions that are being abated as the result of a given well remediation project. However, performing methane monitoring as a standalone revenue-generating service unlocks an opportunity for us to drive value from tasks that we would otherwise ordinarily be performing using existing equipment and crew members."
Ms. Flax continued, "What makes methane monitoring especially attractive from a business perspective is that it is asset-light and operationally efficient. To elaborate, there are very low CapEx and OpEx burdens, meaning that this type of work tends to be profitable from the very beginning, and it is highly scalable as more U.S. states begin launching their MERP initiatives using funding from the Inflation Reduction Act. Out of the twenty-seven states which have documented unplugged orphaned oil/gas wells, Zefiro currently has operations in five of these states (Ohio, New York, Pennsylvania, West Virginia, and Oklahoma), which means there is significant upward potential for us to capture business in new markets for methane monitoring as demand for it continues to increase."
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,
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.
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