Mentioned:
One of the only publicly traded companies in the world focused on turning methane reduction projects into carbon credits is making a new bet. And it’s on a Canadian company who has developed innovative technology to seal emissions from leaking out of oil and gas wells.
What’s happening:
- Zefiro Methane (CBOE: ZEFI) has acquired a minority ownership stake in Winterhawk, through their subsidiary Plants and Goodwin
The big idea:
- Winterhawk is a Calgary based manufacturer of specalized tools and technologies for sealing the leaking pathways of abandoned oil and gas wells
- The new equity ownership stake in Winterhawk will also launch a partnership between Plants and Goodwin and Winterhawk which will give Plants and Goodwin exclusive access to Winterhawk’s patented licenses in the United States
- The capabilities of Winterhawk’s technologies will enable Zefiro to more precisely eliminate methane emissions from abandoned oil and gas wells, which will accelerate their ability to turn those methane reduction projects into high quality carbon credits
Going deeper:
- Zefiro Methane has been making significant progress on turning abandoned oil and gas wells throughout the United States into high quality carbon credits, with their first methane reduction project previously becoming verified on the American Carbon Registry as well as pre selling methane offset credits to renewable energy company EDF Group’s subsidiary EDF Trading
The intrigue:
- Reducing methane emissions has become one of the largest trends in venture capital, with startups pursuing everything from capturing methane through microbes to using hyperspectral imaging technology to discover where energy infrastructure is leaking significant amounts of methane emissions into the atmosphere
