Zefiro Methane Secures $19.6 Million Contract for Environmental Safety
Zefiro Methane Corp. Lands Major Contract for Environmental Safety
FORT LAUDERDALE, Fla. — ZEFIRO METHANE CORP. (Cboe Canada: ZEFI) (Frankfurt: Y6B) (OTCQB: ZEFIF) is thrilled to share some exciting news regarding a monumental achievement by its wholly owned subsidiary, Plants & Goodwin, Inc. (P&G).
A Significant Investment in Environmental Management
P&G has been awarded a $19.6 million Construction Manager at Risk (CMAR) contract by the Ohio Department of Natural Resources (ODNR). This contract focuses on managing the plugging and abandonment (P&A) activities of high-priority marginal wells across Ohio. These efforts are funded through a federal grant program that aims to tackle and reduce methane emissions emanating from these marginal wells.
Impact on Ohio's Marginal Wells
Under this contract, P&G will oversee activities aimed at addressing emissions from approximately 200 marginal wells. This initiative is not only crucial for environmental conservation but also highlights Zefiro's commitment to active sustainability, a core tenet of the company.
Collaborative Efforts Ahead
The work on this project will involve P&G along with its subcontractors. At this point, while the contract award has been officially announced, the finalization of the agreement is pending management fee negotiations and a waiver for competitive selection from the State Controlling Board.
Business Prospects and Financial Implications
This contract marks a significant opportunity for Zefiro as it anticipates substantial positive impacts on both operational and financial fronts. The company is dedicated to keeping its stakeholders informed about this development and will submit a material change report in accordance with securities regulations to continue transparency.
Voices from Leadership
Luke Plants, Senior Vice President of Corporate Development and CEO of P&G, commented on the importance of this program. He emphasized how the initiative not only abates methane emissions from leaking marginal wells but also generates sustainable job opportunities for Ohio residents. The project will leverage Zefiro's existing footprint in the state, effectively optimizing its resources and workforce to yield the best possible results.
About Zefiro Methane Corp.
Zefiro Methane Corp. operates as an environmental services company with a specialization in methane abatement. The company aims to be a driving force for active sustainability, focusing on the remediation of air, soil, and water sources affected by methane leaks. With decades of operational expertise, Zefiro is working on innovative solutions to meet the emerging methane abatement market's demands. As a provider of U.S.-based methane offsets, Zefiro looks to create long-term economic, environmental, and social benefits.
For Further Information
Zefiro is committed to fostering strong communication with its stakeholders. For any inquiries, individuals can reach out to Zefiro Investor Relations at 1 (800) 274-ZEFI (274-9334) or via email at investor@zefiromethane.com.
Frequently Asked Questions
What is the purpose of the contract awarded to P&G?
The contract aims to manage the plugging and abandonment of approximately 200 marginal wells in Ohio, focusing on reducing methane emissions.
How much is the contract worth?
The contract awarded to P&G has a total value of $19.6 million.
Which organization is overseeing the project?
The Ohio Department of Natural Resources (ODNR) is administering the contract.
What is Zefiro's focus as a company?
Zefiro is dedicated to methane abatement and promoting active sustainability through effective environmental management practices.
How can I contact Zefiro for more information?
Individuals can reach Zefiro Investor Relations via phone at 1 (800) 274-ZEFI or email at investor@zefiromethane.com.
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