Evergen Infrastr Stock Price, News & Analysis

EverGen Infrastructure Corp. (TSXV: EVGN, OTCQX: EVGIF) announced its Q4 and fiscal year 2022 financial results, reporting revenues of $1.7 million for Q4, down from $2.7 million in Q4 2021, and $7.5 million for the fiscal year, compared to $9.6 million in 2021. The net loss increased to $1.5 million for Q4 and $4.1 million for the fiscal year, up from $1.1 million and $2.0 million respectively in 2021. Cash and cash equivalents decreased to $8.9 million from $19.6 million, largely due to investments of $11 million into expansion projects. Notably, EverGen secured a $31 million senior term loan to fund its growth projects and reported significant progress in its RNG projects, including the completion of Phase I of GrowTEC expansion and ongoing construction at the Fraser Valley Biogas facility.

EverGen Infrastructure Corp. (TSXV: EVGN, OTCQX: EVGIF) announces that its Sea to Sky Soils organic waste facility has secured contracts with a BC regional district to process over 10,000 tonnes of organic waste annually. This positions EverGen as a leading regional processor of organics, enhancing its operational stability. The facility, in partnership with Lil’wat First Nation, will ensure consistent organic feedstock supply through 2025, supporting local agriculture and generating renewable natural gas. CEO Chase Edgelow highlighted that these contracts mitigate business risks while aiming to manage a total of 300,000 tonnes of organic waste per year.

EverGen Infrastructure Corp. (OTCQX: EVGIF) has announced a new broadcast titled, “Inflation Reduction Act Fans Red-Hot Trend in Renewable Energy Market.” A BNY Melon study notes that around $100 trillion in investment is needed to achieve net zero carbon emissions by 2050, aligning with IEA estimates. Currently, over $1 trillion is invested annually in clean energy, which must increase to $4 trillion. EverGen is positioned as a leader in the renewable energy sector, operating biogas and RNG projects across Canada, including the first renewable natural gas facility in Canada through its subsidiary, Fraser Valley Biogas, since 2011.

EverGen Infrastructure Corp. (TSX.V: EVGN) (OTCQX: EVGIF) has been featured in an editorial by NetworkNewsWire, highlighting the surge in the renewable energy market due to the Inflation Reduction Act (IRA). The IRA allocates $369 billion to boost clean energy production, potentially tripling output by 2030. EverGen, a key player in renewable natural gas (RNG), aims to capitalize on this growth as over 550 gigawatts of new energy supply from green sources is expected. The company, headquartered in Canada, focuses on developing and operating RNG and waste-to-energy projects, anticipating expansion across North America.

EverGen Infrastructure Corp. has secured a $31 million syndicated senior term loan facility, enhancing its funding strategy for expansion projects. The agreement was made with Roynat Capital and Export Development Canada, each contributing 50%. This financing aims to support the construction and upgrades of EverGen's Renewable Natural Gas facilities, including $15 million for refinancing existing debt and $16 million for new projects. The facility has a five-year term with a 10-year amortization period and initial interest-only payments.

EverGen Infrastructure Corp. (EVGIF) reported stable revenues of $2.0 million for Q3 2022, in line with last year's figures. The company completed a significant acquisition of a 67% stake in GrowTEC and is nearing completion of its RNG expansion project, currently at 80%. EverGen secured $31 million in funding for expansion and signed a long-term RNG offtake agreement, enhancing its market position. Despite flood-related costs impacting net income, the company anticipates growth with ongoing projects.

EverGen Infrastructure Corp. (TSXV: EVGN, OTCQX: EVGIF) is set to release its 2022 Q3 financial results on November 21, 2022, after market close. A conference call for results and corporate updates will follow on November 22, 2022, at 10:00 a.m. ET, led by CEO Chase Edgelow. As a key player in Canada's Renewable Natural Gas infrastructure, EverGen focuses on acquiring and operating clean energy projects, aiming for growth across North America.