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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.
EverGen Infrastructure Corp. (TSXV: EVGN, OTCQB: EVGIF) reported its financial results for 2021, revealing a revenue increase to $9.6 million, up from previous periods, but a net loss of $1.1 million. The company faced operational challenges due to severe flooding that temporarily shut down its Fraser Valley Biogas facility. However, insurance recoveries exceeding $1.7 million are anticipated. EverGen outlined plans for significant capital expansions at multiple facilities to enhance RNG production, while maintaining a robust cash position of $19.6 million for future growth.
EverGen Infrastructure Corp. (TSXV: EVGN, OTCQB: EVGIF) will release its 2021 fourth quarter and year-end financial results on April 21, 2022, after market close. A conference call hosted by CEO Chase Edgelow is scheduled for April 22, 2022, at 10:00 a.m. ET, to discuss the results and provide a corporate update. EverGen, focused on renewable natural gas projects, aims to combat climate change and expand its operations across North America from its base in British Columbia.
EverGen Infrastructure Corp. (TSXV: EVGN, OTCQB: EVGIF) has announced a letter of intent to acquire a 67% stake in a biogas facility in Alberta from GrowTEC for $6.6 million. The deal consists of $3.3 million cash and 600,000 shares valued at $5.50 each. The facility is expected to produce 80,000 gigajoules of Renewable Natural Gas (RNG) yearly, with plans to expand to 140,000 gigajoules. This move marks EverGen's entry into Alberta and is part of its strategy to become a leading RNG producer in the region, contributing to sustainable energy initiatives.
EverGen Infrastructure Corp. (OTCQB: EVGIF) has begun trading its common shares on the OTCQB Venture Market in the U.S. as of February 15, 2022. This move aims to attract a wider base of investors and enhance liquidity. The company is also seeking eligibility for the DTC, facilitating electronic settlements. Co-Founder and CEO Chase Edgelow highlighted that this listing aligns with EverGen's growth strategy, particularly with its long-term RNG expansion projects boosting financial performance. The OTCQB offers an accessible platform for U.S. investors to trade EverGen's shares.