Evergen Infrastr Stock Price, News & Analysis

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.

EverGen Infrastructure Corp. (TSXV: EVGN, OTCQX: EVGIF) has partnered with Adelaide Capital for investor relations and consulting services. Adelaide, known for its innovative approach, will help EverGen enhance its capital markets program, including organizing roadshows and investor communications. The agreement entails a monthly fee of C$10,000 and 15,000 stock options priced at $2.75 per share over a three-year term, pending board approval. This collaboration aims to strengthen shareholder communication as EverGen continues its growth in renewable energy infrastructure.

EverGen Infrastructure Corp. has signed a term sheet for a long-term offtake agreement to sell up to 190,000 GJ of Renewable Natural Gas (RNG) annually from its Fraser Valley Biogas Facility. This agreement replaces an existing one and is timed with stronger market pricing. The agreement supports a fully funded Core RNG Expansion project, which aims to double the facility's production capacity to approximately 160,000 GJ per year. EverGen's long-term goal is to reach 1,000,000 GJ of RNG annually across its portfolio.

EverGen Infrastructure Corp. (TSXV:EVGN)(OTCQX: EVGIF) announced its common shares will commence trading on the OTCQX Best Market in the U.S. starting September 15, 2022. This upgrade from the OTCQB Venture Market aims to provide enhanced liquidity and accessibility for U.S. investors interested in renewable natural gas (RNG) infrastructure. CEO Chase Edgelow highlighted the company's growth trajectory, intending to deliver over 1 million gigajoules of RNG annually. The OTCQX is recognized by the SEC, allowing for expanded visibility and trading options for investors.

EverGen Infrastructure Corp. (TSXV: EVGN, OTCQB: EVGIF) reported key developments in their Q2 2022 results. The company acquired a 50% interest in Project Radius and completed a 67% interest acquisition in GrowTEC, expected to yield significant RNG production by late 2022. A $31 million Senior Term Loan Facility with Roynat and EDC was secured for funding core RNG projects, which are fully funded. Despite these advancements, Q2 revenues decreased to $2.4 million, impacted by seasonal factors and lower feedstock volumes. The company also recorded a net loss of $0.5 million due to flood-related impacts.

EverGen Infrastructure Corp. has secured a $31 million senior term loan facility from Roynat Capital and EDC to fund its Renewable Natural Gas (RNG) expansion projects. This funding supports the upgrade of its Fraser Valley Biogas and Net Zero Waste Abbotsford facilities, aiming to achieve annual production of 480,000 GJ of RNG. The loan has a five-year term, interest-only payments for the first year, and is subject to due diligence. Key upcoming projects include significant expansions in British Columbia and Alberta, contributing to EverGen's enhanced RNG production capacity.

EverGen Infrastructure Corp. (TSXV: EVGN, OTCQB: EVGIF) plans to announce its 2022 Q2 financial results on August 23, 2022, after market close. A conference call will be held on August 24, 2022, at 10:00 a.m. ET, hosted by CEO Chase Edgelow. EverGen is committed to combatting climate change by developing and operating renewable natural gas and waste-to-energy projects in Canada and beyond.

EverGen Infrastructure Corp. (TSXV: EVGN, OTCQB: EVGIF) has acquired a 67% interest in Grow the Energy Circle Ltd. (GrowTEC) for $2.1 million plus potential additional cash up to $4 million upon hitting operational milestones. This acquisition aims to convert GrowTEC's existing biogas facility into a Renewable Natural Gas (RNG) facility, expected to produce 140,000 gigajoules of RNG annually. With this move, EverGen expands its footprint across Canada, supporting the transition to carbon-negative energy production.