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Evergen Infrastr (EVGIF) drives innovation in energy infrastructure management through technology-integrated solutions. This dedicated news hub provides stakeholders with authoritative updates on operational developments and strategic initiatives within the evolving energy sector landscape.
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EverGen Infrastructure Corp. (TSXV: EVGN, OTCQX: EVGIF) has signed a 20-year offtake agreement with FortisBC Energy Inc. for purchasing up to 160,000 GJs of Renewable Natural Gas (RNG) annually. This deal, pending approval by the British Columbia Utilities Commission, provides EverGen with a long-term revenue stream and ensures a stable RNG supply for FortisBC. Additionally, EverGen has secured a feedstock supply agreement covering more than 50% of the off-farm waste needed for the Fraser Valley Biogas facility. This move aims to de-risk the FVB project by ensuring input security.
EverGen Infrastructure reported its Q1 2024 financial results, showcasing significant advancements.
Key highlights include record quarterly revenues of $3.2 million, a 92% increase year-over-year, driven by enhanced RNG production.
Fraser Valley Biogas achieved record daily and monthly RNG output following a project completion in December 2023.
Despite an improved adjusted EBITDA of $0.7 million, the company posted a net loss of $1.3 million, up from $1.0 million in Q1 2023, due to the absence of gains from contingent considerations.
Operational achievements encompass a 300% rise in RNG production to 35,440 gigajoules and a 144% increase in organic compost sales.
EverGen Infrastructure Corp. (TSXV: EVGN, OTCQX: EVGIF) has announced the release of its 2024 first quarter financial results on May 28, 2024, after market close.
The company will host a conference call on May 29, 2024, at 11:00 a.m. ET to discuss the results, led by CEO Mischa Zajtmann and CFO Sean Hennessy.
Investors and stakeholders can join the call via a provided Zoom link.
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