FORT LAUDERDALE, Fla., June 14, 2024 (GLOBE NEWSWIRE) -- ZEFIRO METHANE CORP. (Cboe Canada: ZEFI) (Frankfurt: Y6B) (the “Company”, “Zefiro”, or “ZEFI”) is pleased to announce the publication of its first Letter from the CEO as a public company, following the release of its inaugural quarterly earnings report , reflecting ZEFI’s record quarter revenue of USD $8.5 million and a gross profit of USD $2.7 million (approx. 31% gross profit margin). The Letter from the CEO was sent out to Zefiro’s newsletter subscribers by email, and is also available for viewing on the Zefiro website at the following link: zefiromethane.com/ceo-letter-june-2024-english
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Penned by Zefiro Founder and CEO Talal Debs PhD, the Letter from the CEO outlines the beginning of the Company’s journey, dating back to the year 2008 when the carbon trading desk at J.P. Morgan was being established by team members to include Dr. Debs, as well as Zefiro Chief Commercial Officer Tina Reine , and Zefiro Board of Directors member Catherine Flax. Dr. Debs then explained the way in which the carbon markets and the environmental services industry evolved in the years to come, ideally situating the market for Zefiro’s business model. This led to the founding of Zefiro with several key business accomplishments even before the Company had its Initial Public Offering (“IPO”) in April 2024. Debs also highlights in the letter how he along with other founding team members have invested personal capital into Zefiro during each and every financing round, in addition to purchases of ZEFI shares on the open market, as well as a recent exercise of over 637,000 warrants done by Debs himself.
Just minutes before ZEFI’s common shares began trading on the Cboe Canada Inc. exchange on April 23, 2024, Zefiro Founder and CEO Talal Debs addressed guests of the bell-ringing ceremony in Toronto’s Financial District.
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Zefiro Founder and CEO Talal Debs commented, “Since Zefiro’s inception, our staff has worked tirelessly to forge the voluntary carbon market’s leading comprehensive service provider. From the field to the boardroom, Zefiro’s commitment to quality has led to the rapid expansion of not only our modern methane reduction operations and unique carbon credit portfolio, but also our diverse customer and investor pools. Zefiro has continually displayed its commercial strength to the marketplace, and I cannot be prouder to work alongside our dedicated team to help reshape this rapidly growing, innovative portion of the energy sector.”
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 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/
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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ed70e04e-5746-4c1a-b334-bc70c58ac657
