Zefiro Methane Corp. Provides Update On Recent Strategic Execution And Milestones Achieved

(MENAFN- Newsfile Corp) Zefiro Methane Corp. Provides Update on Recent Strategic Execution and Milestones Achieved

March 16, 2026 7:30 AM EDT | Source: Zefiro Methane Corp.

Shareholders of Zefiro are reminded that the deadline for submitting proxy votes is 12:00 p.m. (Eastern time) on Wednesday, March 18, 2026 in advance of the Annual and Special Meeting of Shareholders taking place at 12:00 p.m. (Eastern time) on Friday, March 20, 2026 in Toronto. Please refer to Zefiro's February 24, 2026 Press Release for more information.

Fort Lauderdale, Florida--(Newsfile Corp. - March 16, 2026) - ZEFIRO METHANE CORP. (Cboe Canada: ZEFI) (FSE: Y6B) (OTCQB: ZEFIF) (the "Company", "Zefiro", or "ZEFI") is pleased to provide a consolidated update of its accomplishments following the appointment of Catherine Flax as Zefiro's Chief Executive Officer and Michael Downs as Chief Financial Officer in June of 2025. Along with Luke Plants as CEO of Zefiro subsidiary Plants & Goodwin, Inc. ("P&G"), this team has led transformational change, driving vastly improved value for shareholders and charting a course for sustained long-term growth.

All financial figures listed herein are approximate and in U.S. Dollars unless otherwise stated.

Overview of Key Highlights Since June 2025

Expect revenue to be approximately $10.0 million for the current quarter (Fiscal Q3'26); On target to achieve a run rate of $40.0 million of revenue for fiscal year 2026; During the first half of Zefiro's fiscal 2026 year, Zefiro generated Adjusted EBITDA of $3.8 million, as well as $300,000 in positive Net Income; Reduced approximately $2.8 million of high-interest debt during the present fiscal quarter which was due within the calendar year of 2026; Completed the sale of 92,956 metric tonnes of carbon credits to four separate counterparties; Sustained win rate of over 30% of all funding received by the State of Ohio from the Phase 1 Formula Grant under the Infrastructure Investment and Jobs Act ("IIJA"); Expanded operations into Louisiana, the eighth state in which P&G has generated revenue; and Monitored over 800 wells in West Virginia funded through the Methane Emissions Reduction Program ("MERP").

Since June 2025, Zefiro has made several notable achievements as outlined in greater detail below, while also laying the groundwork for generating further business value at scale going forward.

Luke Plants, CEO, Zefiro Environmental Services, commented, "Working with Catherine since she stepped into CEO role has created a very proactive growth-oriented environment that was needed to drive the business and capitalize on the immense opportunities in both segments of the business, environmental services and environmental markets."

Financial Performance: During the first two full fiscal quarters under the current Company's administration (each ended September 30, 2025 and December 31, 2025), Zefiro had record financial performance over this six-month period, with highlights that include those listed below:

$22.2 million in Revenue, an increase of nearly $4.7 million or ~27% compared to the six months of the prior period; $8.1 million in Gross Profit, an increase of over $4.2 million or ~108% compared to the six months of the prior period; and $3.8 million in Adjusted EBITDA, representing an improvement of almost $6.3 million compared to the six months of the prior period.

Zefiro also notably cleared $300,000 in net income during this six-month period, a monumental improvement over the operating loss of $6.1 million during the six months of the prior period.

Debt Reduction: In January 2026, the Company completed a strategic transaction to eliminate more than $2.0 million in high-interest debt at the parent level. As a result, total parent-level debt was reduced by 65.7% from $3.5 million to $1.2 million in 2026. The Company further paid off the remainder of the $0.5 million high-interest debt at the parent level with a new $0.3 million promissory note due in 2027 and free cash flow from the business.
Carbon Credit Fulfillment: Zefiro completed its seventh sale of carbon credits during February 2026. Zefiro has now sold carbon credits to four buyers, as a direct result of commercialization efforts by Tina Reine, who heads Zefiro's activities in the voluntary carbon markets. In August of 2025, Zefiro completed the first-ever sale of carbon offsets originated under the American Carbon Registry ("ACR") methodology for orphaned oil/gas wells. After plugging a single well in Custer County, Oklahoma (ACR Project 959), Zefiro was issued offsets reflecting confirmed emissions reductions of 92,956 metric tonnes of CO2 equivalent. These were then delivered to institutional clients including Mercuria Energy America, LLC and EDF Trading.

"We're actively working behind the scenes to prepare for ACR's updated orphan well methodology, which is set to be published this year and will give us the ability to continue originating and selling carbon offsets from plugging orphan oil/gas wells here in the United States," commented Zefiro's Chief Commercial Officer Tina Reine. "Zefiro was actually one of the only carbon offset originators to complete a deal of this size during the 2025 year in the voluntary carbon markets. The unique and transparent value proposition behind Zefiro's carbon offsets has enabled us to stand out in this hyper-competitive marketplace even when not many deals were being made, and we are keen to build upon that momentum, keeping carbon credits a continued focus for us at Zefiro as a fully integrated environmental services company."

Government Contracts in Ohio: As of last month, P&G had won approximately 37% of all funding received by the State of Ohio from the Phase 1 Formula Grant under the Infrastructure Investment and Jobs Act. Between the months of June 2025 and February 2026, P&G was awarded more than $25 million worth of government-funded contracts in Ohio between a $19.6 million Construction Manager at Risk ("CMAR") three-year contract for marginal wells (Press Release ), another CMAR contract for orphan wells valued at $4.5 million (Press Release ), the Belmont 6 project for $420,784.45 (Press Release ), and the Morrow 8 project for $522,233 (Press Release ).

Expansion into Louisiana: In January 2026, P&G commenced work on a three-month energy infrastructure project near Lake Charles, Louisiana with more than $5 million in revenue to be realized upon completion. This expansion into Louisiana allowed full-scale work to be done during the winter months, which is traditionally "Low Season" in the plug-and-abandonment business. As a result of this expansion, Zefiro/P&G now have a footprint in eight states including Pennsylvania, New York, Ohio, West Virginia, Kentucky, Oklahoma, Virginia, and Louisiana.

Methane Monitoring: In July 2025, the West Virginia Department of Environmental Protection awarded Zefiro a contract to perform pre-plugging and post-plugging methane monitoring work, funded through the Methane Emissions Reduction Program ("MERP") under the Inflation Reduction Act. An increased scope of work initially had this project valued at $800,000, though a later expansion further increased the total value to $1.3 million. To date over 800 wells have been monitored by Zefiro under this program.

Daryl Heald, a global philanthropist based in Tennessee who was also one of Zefiro's founding members on its Board of Directors, added "These are very exciting times for Zefiro, both as a business that is now consistently driving positive EBITDA, but also as an environmental services company that is making a noticeable difference in American communities with each well that gets plugged. These efforts are only continuing to gain momentum as federal and state IIJA funds are expected to increase in the year 2026, particularly in states where Zefiro already has a strong presence. It continues to be a pleasure to work with Catherine and Zefiro's management team in our efforts to scale the Zefiro enterprise and further solidify the Company's market presence."

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.

Catherine Flax

Chief Executive Officer

For further information, please contact:

Zefiro Investor Relations
1 (800) 274-ZEFI (274-9334)
...

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 .

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) Anticipated future performance based on results outlined in this 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 .

To view the source version of this press release, please visit

Source: Zefiro Methane Corp.

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