FORT LAUDERDALE, Fla., Nov. 30, 2023 (GLOBE NEWSWIRE) -- ZEFIRO METHANE CORP. (the “Company”, “Zefiro”, or “ZEFI”) today announced that it will be hosting an event as part of the United Nations’ 2023 Climate Change Conference (“COP28”) on Wednesday, December 6th, 2023 at 6:00 PM GMT+4 in Dubai. The event, entitled “Sustainable Planet - A New Vision in Methane & Water,” will be held at Expo City Dubai within the conference center’s Blue Zone, a United Nations Framework Convention on Climate Change-managed area that over the course of the two-week conference will serve as the formal site for delegate-led negotiations and the World Climate Action Summit. The reception is sponsored by the Global Alliance for a Sustainable Planet (“Global Alliance”), a non-profit organization that seeks to foster the public-private partnerships needed to help address the planet’s most pressing environmental issues.
Specifically, the event will feature a fireside chat with Zefiro Founder and Chief Executive Officer Talal Debs, Zefiro Chief Commercial Officer Tina Reine, and Virginia King (Natural Capital Program Director of Stantec, an industry-leading engineering consulting firm). This discussion will provide attendees, including key public and private sector stakeholders and members of the global press corps, the opportunity to learn more about Zefiro’s efforts to help reduce methane emissions throughout the United States by permanently plugging orphaned oil and gas wells.
According to the latest expert estimates, there are more than 4 million unplugged oil and gas wells spread out across 26 different states, with an unknown amount of these sites that are leaking. The Environmental Protection Agency has indicated that methane emissions are at least 28 times more potent than carbon dioxide in terms of trapping heat in the atmosphere and numerous studies have found that leaks from these wells can seriously harm surrounding areas’ air and drinking water quality. Zefiro’s series of recent investments in their operational capacity exhibit a commercially viable and scalable solution to this problem, and the company’s current work at a variety of active job sites has led to on-the-ground crews across the country locating and plugging an increasing number of these potentially toxic sites.
Zefiro Chief Commercial Officer Tina Reine, left, and Founder & Chief Executive Officer Talal Debs, right, present during the Company’s NYC Climate Week 2023 event this past September. For media attending COP28 who would like to meet either Ms. Reine or Mr. Debs, please contact media@zefiromethane.com.
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“As the international community seeks greater consensus on collective actions aimed at building a more sustainable future, COP28 provides an essential forum for leading experts, energy sector decision-makers, and government officials from around the world to forge the innovative solutions needed to combat the most pressing environmental threats of our time,” said Talal Debs, Founder & Chief Executive Officer, Zefiro Methane Corp. “Reducing the alarming proliferation of unplugged oil and gas wells will require unprecedented levels of coordination among public agencies, private companies, and non-profit entities, and we at Zefiro are honored to have been entrusted by the conference and our partners at the Global Alliance with the responsibility of helping lead this critical conversation.”
On behalf of the Board of Directors of the Company,
ZEFIRO METHANE CORP.
“Talal Debs”
Talal Debs, Founder & Chief Executive Officer
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
(347) 774-1125
About Zefiro Methane Corp.
Zefiro develops methodologies to reduce methane emissions by plugging orphaned and abandoned oil/gas wells, while originating carbon offsets. Under executive leadership to include the former carbon market team at J.P. Morgan, Zefiro actively deploys crews to decommission wells throughout the United States. With unprecedented global demand for carbon offsets as corporations and institutions work towards net-zero targets, Zefiro is strategically aligning with industry leaders for a greener future.
Forward-Looking Statements
This press 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. Forward-looking information in this press release includes statements regarding the Company, the Company’s business, the industry in which the Company operates, the Company’s opportunities, strategies, competition, expected activities and expenditures as the Company pursues its business plan, the adequacy of the Company’s available cash resources and other statements about future events or results. 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: (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; and (iv) other factors beyond the control of the Company. 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. The forward-looking information is based on a number of assumptions, including assumptions regarding general market conditions, the availability of financing for proposed transactions and programs on reasonable terms, and the ability of outside service providers to deliver services in a satisfactory and timely manner. The forward-looking information included in this press release are made as of the date of this press 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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7b6d4c74-9c95-4fbe-b4bc-03fc57331530
