Welcome to our dedicated page for Evergen Infrastr news (Ticker: EVGIF), a resource for investors and traders seeking the latest updates and insights on Evergen Infrastr stock.
EverGen Infrastructure Corp. (EVGIF) generates a steady flow of corporate and operational news as a Renewable Natural Gas (RNG) and waste to energy infrastructure company based on the West Coast of Canada. As Canada’s Renewable Natural Gas Infrastructure Platform, EverGen reports on developments across facilities such as Fraser Valley Biogas (FVB), GrowTEC, Pacific Coast Renewables, Sea to Sky Soils and Prairie Sky Organics.
News coverage for EverGen commonly includes quarterly and year-end financial results, where the company discloses RNG production volumes, organic feedstock processed, compost and soil sales, electricity generation and non-GAAP measures such as EBITDA, adjusted EBITDA and working capital. These updates often highlight record RNG production at FVB and GrowTEC, changes in revenues linked to tipping fees and organic waste volumes, and the impact of optimization initiatives at core assets.
Investors following EVGIF news will also see financing and capital structure announcements, including non-brokered private placements of common shares, asset-level debt refinancing at Fraser Valley Biogas, and additional equity financing plans subject to TSX Venture Exchange approvals. Operational updates provide detail on environmental performance improvements, regulatory milestones and permitting progress for projects such as the PCR RNG expansion, as well as changes in service agreements like the termination of the Prairie Sky Organics organic waste processing agreement.
Other notable news items include government funding and offtake agreements at GrowTEC, such as support from Agriculture and Agri-Food Canada and long-term RNG contracts with FortisBC and Irving Oil. EverGen also reports on corporate governance developments, including the formation of a special committee to review potential strategic transactions. This news page allows readers to track how these financial, operational and strategic updates shape the company’s RNG infrastructure platform over time.
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.
EverGen Infrastructure Corp. (TSXV: EVGN, OTCQX: EVGIF) has commenced construction on its Core RNG Expansion Project at Fraser Valley Biogas, which is set to double the facility's renewable natural gas (RNG) production capacity to approximately 160,000 GJ annually. The project, started in Q3 2022, remains on schedule and within its capital budget of C$13M-C$15M. Additionally, a new long-term offtake agreement aligns with a stronger RNG market, expected to significantly enhance revenues and EBITDA. The expansion is anticipated to complete by Q1 2023.
EverGen Infrastructure Corp. (TSXV: EVGN, OTCQX: EVGIF) has appointed Sean Hennessy as Chief Financial Officer (CFO), effective immediately. Previously Vice President, Finance & Controller, Sean brings over 15 years of experience in finance and accounting within the clean energy sector. His notable roles include work at a global energy infrastructure firm and as a chartered accountant at PwC New Zealand. His appointment aims to strengthen EverGen's financial leadership as the company continues to focus on renewable energy projects across Canada and North America.
EverGen Infrastructure Corp. (TSXV: EVGN, OTCQX: EVGIF) announces that construction on Phase 1 of the GrowTEC RNG Expansion Project is 80% complete and ahead of schedule. This biogas facility focuses on converting organic waste to renewable natural gas (RNG) and is set to produce 80,000 gigajoules of RNG annually, supported by a long-term offtake agreement with FortisBC. Phase 2 is projected to add another 60,000 gigajoules, totaling 140,000 gigajoules of annual production. The project is expected to enhance EverGen's cash flow position.