Plants & Goodwin Inc., a Subsidiary of Zefiro Methane Corp., Acquires a Minority Stake in, and Obtains an Exclusive U.S. Patent License from, Winterhawk Well Abandonment Ltd.

Winterhawk develops innovative technology to optimize oil and gas well casing operations

FORT LAUDERDALE, Fla., Aug. 14, 2024 (GLOBE NEWSWIRE) -- Plants & Goodwin Inc. (“P&G”), a subsidiary of ZEFIRO METHANE CORP. (Cboe Canada: ZEFI) (Frankfurt: Y6B) (OTCQB: ZEFIF) (the “Company”, “Zefiro”, or “ZEFI”), today announced the acquisition of a minority ownership interest in Winterhawk Well Abandonment Ltd. (“Winterhawk”) for an undisclosed amount. Winterhawk is a Calgary-based manufacturer of specialized downhole tools and technologies designed to expand casing in oil and gas wells to seal the leak pathways of surface casing vent flows. Sealing these methane leaks using conventional well decommissioning procedures is not always successful, but forward-thinking innovations patented by companies like Winterhawk can increase well intervention effectiveness and reduce costs.

P&G and Winterhawk also entered into an exclusive patent license agreement (“Exclusive License Agreement”) for Winterhawk’s U.S. patents for an undisclosed amount. The Exclusive License Agreement will position P&G as the only company that can use, deploy, distribute, offer for sale, sell ‎or otherwise dispose Winterhawk’s innovative “Casing Expansion Tool” and other covered products (“Winterhawk Products”) on project sites in the United States. The Exclusive License Agreement also allows P&G to sublicense Winterhawk Products to other entities operating in the United States which can generate additional revenue for the company.

 

A diagram illustrating the functionality of Winterhawk’s technology.
For more information, see this video by CEO of Zefiro Services, Luke Plants.

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“When Luke Plants, CEO of Zefiro Services, first told me about this technology, I was excited about having a new tool to address methane leaks from casing vent flows,” said Talal Debs, Founder & Chief Executive Officer, Zefiro Methane Corp. “Winterhawk’s one-of-a-kind casing expansion technology gives us one more way to eliminate harmful emissions and deliver the highest possible quality with every deployment.”

“From Winterhawk’s inception, we have always aimed to have our Casing Expansion Tool routinely deployed on the most complex, high-priority job sites,” said Ian Thomson, Chief Executive Officer, Winterhawk. “P&G’s proven ability to quickly scale their nationwide field operations aligns with our founding mission, and we cannot wait to see their crews deploy our innovative technology on projects across the country.”