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EverGen Infrastructure Corp. reports developments tied to its renewable natural gas infrastructure platform in Canada. The company acquires, develops, builds, owns and operates renewable natural gas, waste-to-energy and related infrastructure projects, with operating updates centered on RNG production, carbon credit revenue, tipping volumes and facility optimization.
Recurring company news also covers project and commercial activity at assets such as Fraser Valley Biogas, GrowTEC, Pacific Coast Renewables and Prairie Sky Organics, including offtake arrangements, construction milestones, financing transactions, private placements, equity incentives, shareholder voting matters, governance updates and periodic financial results.
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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.