The founder and CEO of Zefiro Methane [Cboe Canada: ZEFI, Frankfurt: Y6B], Talal Debs, has exercised 637,500 warrant certificates at an exercise price of $0.75 (CAD) per warrant into 637,500 common shares in ZEFI.
The common shares were acquired through the X Machina Capital Strategies Fund, an entity of which Debs is a control person. Debs now beneficially owns or has control or direction over approximately 30.2% of Zefiro Methane’s issued and outstanding common shares.
Zefiro Methane Corp: US origin high quality carbon credits
Zefiro is an environmental services company, specializing in methane abatement. It is aiming 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. It has already built a fully integrated ground operation driven by an innovative monetization solution for the emerging methane abatement marketplace.
As an originator of high-quality US-based methane offsets, Zefiro aims to generate long-term economic, environmental, and social returns.
Record consolidated revenues
Zefiro Methane announced last month that it had generated record consolidated revenues of USD 8.5 million, an approximate 10% increase from the quarter that ended on December 31, 2023, resulting in a gross profit of USD 2.7 million (approximate 31% gross profit margin).
“In just a matter of months, Zefiro’s comprehensive and fully integrated business model as an environmental services company has had a measurable impact on American communities, while also driving robust and scalable value for shareholders,” Debs said at the time. “I believe these results signal to the market that Zefiro’s operations are sustainable and profitable, aligning quite well with investors’ objectives.”
Zefiro had zero revenue as of 31 March 2023 and is now looking at well over seven figures USD in gross profit. The company looks well-positioned to benefit from both private and public sources of capital focused on the issue of methane-producing industrial sites across several US states.
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With extensive energy and commodities experience, Debs served as chair of J.P. Morgan’s oil and gas price deck committee, as well as in leadership roles covering infrastructure and commodities credit, insurance, and reservoir engineering and technical analysis; his time at the institution spanning 15 years. He has nearly a decade of experience as a researcher and lecturer within the technically demanding field of the foundations of quantum mechanics and relativity theory.
Last month Zefiro announced the opening of a new operations facility in Buckhannon, West Virginia. The facility will allow Zefiro to expand their abandoned oil and gas well plugging operations by strategically aligning its goal of efficiently deploying portions of the USD 29.2 million Phase 1 Bipartisan Infrastructure Law funds in West Virginia. There are over 6,300 orphaned oil and gas wells in West Virginia.
