Zefiro was able to expand into these two new states as a direct result of the Viking Well Service equipment acquisition that took place in May of 2026. Rigs acquired as part of this equipment acquisition are being used on these new projects in both Indiana and Michigan.
BRADFORD, PENNSYLVANIA - SEPTEMBER 22, 2026 – Zefiro Methane Corp. (Cboe Canada: ZEFI) (Frankfurt: Y6B) (OTCQB: ZEFIF) (the “Company”, “Zefiro”, or “ZEFI”), a North American environmental services company specializing in methane abatement and the plugging of orphaned and end-of-life oil and gas wells, today announced that it has commenced its first-ever operations in Indiana and Michigan, including the Company’s first in carbon sequestration.
Indiana Expansion
In eastern Indiana, Zefiro is executing an eight-week carbon sequestration project representing approximately US$750,000 in revenue, for which work is already underway. The project marks two firsts for the Company — its first operations in the state of Indiana, and its first project in carbon sequestration, a multi-billion dollar category that broadens the scope of Zefiro’s service offerings beyond the remediation work that has historically formed the core of its business.
The sequestration wells are drilled into a target geologic strata that has been evaluated as a suitable storage reservoir. The scope draws on the same crews, rigs, and downhole expertise the Company applies to well plugging, directed toward placing carbon underground rather than sealing a well at the end of its life. Management views this as a natural extension of an existing capability into a second source of demand.
Michigan Expansion
In Michigan, Zefiro is on site and underway with an emergency response project representing approximately US$500,000 in revenue from a single well — a figure well above the Company’s typical per-well economics. It is Zefiro’s first project in the state of Michigan.
The project is classified as an emergency response because hydrogen sulfide is flowing to the surface at the site. Hydrogen sulfide can be fatal even at low levels of exposure, and the work consequently requires extensive protective measures, including supplied air and full ventilator systems for crews on location. Relatively few operators are equipped and trained to take on work of this nature, which is reflected in the economics of the project.
Management Commentary
Zefiro Chief Executive Officer Catherine Flax commented: “Entering two new states, with crews and work already underway in both, reflects the operating capacity this company has built over the past year. These awards would not have been available to us before the Viking acquisition, and that is precisely the return we underwrite when we invest in new capabilities and equipment.”
“The Indiana project is particularly interesting as it is our first carbon sequestration well. Carbon sequestration is a rapidly growing category, and the work of installing tubulars and downhole tools to bring a storage well online sits squarely within what our crews do every day. We are not learning a new trade here — we are aligning an existing one at a second and growing source of demand,” concluded Flax.
About Zefiro Methane Corp.
Zefiro Methane Corp. (Cboe Canada: ZEFI) (Frankfurt: Y6B) (OTCQB: ZEFIF) is a North American environmental services company specializing in methane abatement and the plugging of orphaned and end-of-life oil and gas wells. Through operating subsidiary Plants & Goodwin, Inc., a third-generation well services company with a 50-plus-year operating history, Zefiro is vertically integrated across the well lifecycle — measurement and monitoring, plugging and abandonment, site restoration, and carbon credit origination — serving government and private-sector customers across 15 U.S. states. For more information, visit zefiroglobal.com.
Investor Relations Contact
Lucas A. Zimmerman
Managing Director
MZ Group - MZ North America
(949) 259-4987
Notice Regarding References to Zefiro Entities
In this press release, the standalone name/term "Zefiro" collectively refers to both (i) Zefiro Methane Corp. (incorporated in the province of British Columbia, Canada) and (ii) Subsidiaries of Zefiro Methane Corp. unless explicitly stated or otherwise implied by the context. Likewise, first-person linguistic mechanisms such as "We", "Our", and "Us" also collectively refer to Zefiro Methane Corp. and its subsidiaries unless explicitly stated or otherwise implied by the context.
For instances in which a precise entity must be identified, the exact legal name of the entity in question will generally be stated (e.g., "Zefiro Methane Corp." would refer to this entity only and not any of its subsidiaries).
This convention is used only for convenience to facilitate simple and plain-language disclosures to investors, and a comprehensive overview of Zefiro Methane Corp.’s subsidiaries that are collectively referred to with the "Zefiro" name/term can be found in the Company’s most recent MD&A, which can be accessed on SEDAR+ at www.sedarplus.ca/.
Forward-Looking Statements
This news release may contain forward-looking statements within the meaning of applicable securities laws, including U.S. and Canadian securities regulations and laws. These forward-looking statements are based on current expectations, estimates, projections, beliefs, and assumptions of management, including those of Zefiro Methane Corp., as of the date of this news release. Forward-looking statements typically include words such as “anticipates,” “outlook”, “seeks”, “expects,” “intends,” “plans,” “believes,” “estimates,” “may,” “will,” “should,” “could,” “would,” “continue,” “forecast,” “potential,” “targets,” “goals,” “vision,” “strategy,” and similar expressions or variations thereof. These statements may relate to, among other things, the Company’s operational outlook, expansion plans, future direction, strategic initiatives, business plans, regulatory environment, growth prospects, pipeline, financial performance, timing and scope of projects, future market conditions, funding and capital requirements, partnerships, or other business developments. 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.
In addition, any statements made in this news release are not guarantees of future performance and are subject to a number of known and unknown risks, uncertainties, and other factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those expressed or implied by such forward-looking statements. These factors include, but are not limited to: fluctuations in commodity prices, changes in regulatory or political environments, operational risks, financing risks, market demand for emissions reduction or environmental services, delays in project execution, reliance on third-party partners or vendors, competition, and the overall economic environment. For a more detailed discussion of these factors and other risks, see the section entitled “Financial Risks” in Zefiro’s management’s discussion and analysis for the year ended June 30, 2025 and “Risk Factors” in Zefiro’s annual information form for the year ended June 30, 2025, each of which is available under Zefiro’s profile on SEDAR+ at www.sedarplus.ca/.
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; (v) The timing of commencement, duration and completion of the projects described in this press release, which remain subject to weather, permitting, site conditions and scheduling; (vi) Variability in the revenue and margin ultimately realized on these projects relative to the amounts described herein; (vii) Operational, safety and environmental risks associated with emergency response work and with hydrogen sulfide exposure; (viii) The Company's ability to expand its service offerings into carbon sequestration and to secure additional work in that category or in the states of Indiana and Michigan; (ix) The continued availability and deployment of federal and state funding for orphaned well remediation; (x) The Company's ability to realize the anticipated benefits of the Viking Well Service equipment acquisition; (xi) Anticipated outcomes from the projects as outlined in the press release; as well as other risk factors set forth in the Company’s most recent 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.
Zefiro Methane Corp. does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on these forward-looking statements.
Also, this news release may include market and industry data obtained from various publicly available sources and other sources believed by the Company to be true. Although the Company believes it to be reliable, the Company has not independently verified any of the data from third-party sources referred to in this presentation or analyzed or verified the underlying reports relied upon or referred to by such sources, or ascertained the underlying assumptions relied upon by such sources. The Company does not make any representation as to the accuracy of such information.
This news release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of Zefiro Methane Corp., nor shall it form the basis of or be relied upon in connection with any investment decision.
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/ .