- EverGen expanding RNG infrastructure across Canada with projects in British Columbia, Alberta, Ontario
- RNG demand and pricing unpredictable in US due to carbon credit system
- Canada’s RNG companies have competitive advantage over US companies due to long-term offtake agreements for energy derived from RNG projects
Renewable natural gas (“RNG”) is considered carbon-neutral because it is produced by decomposing organic materials such as animal and food waste that otherwise would produce methane if left to decay naturally. In addition, RNG production does not pollute the air, water or land like traditional natural gas extraction methods while still being fully compatible with the existing pipeline system.
EverGen Infrastructure (TSX.V: EVGN) (OTCQX: EVGIF), an energy company that is developing Canada’s RNG Infrastructure Platform, is leading RNG development by acquiring, developing, building, and operating a portfolio of RNG, waste-to-energy, and related infrastructure projects. The company aims to expand its network across the country with support from Canada’s energy sector – an environment that provides significant advantages compared to the United States.
“In Canada, we can build infrastructure with certainty of long-term contracted revenue,” said EverGen Co-Founder and CEO Chase Edgelow in a recent interview (https://ibn.fm/73n3c). “This is different from the US model, which is reliant on carbon credits which have a pricing mechanism that can be difficult to predict.”
“What’s unique about this landscape and industry in Canada comes from what we see as a really strong tailwind for our business: the strength of the Canadian regulated gas utilities in terms of providing long-term offtake agreements for energy derived from these RNG projects.”
EverGen is expanding nationwide, starting in the West with three British Columbia projects and one in Alberta. With a focus on the East, the company recently acquired a 50 percent interest in Project Radius – a portfolio of RNG development projects in Ontario that can collectively produce approximately 1.7 million RNG GJ/year.
“When you add it all together, we’ve got a business capable of delivering $30 million of EBITDA from the portfolio that we have in front of us, and we see 25+ projects in Canada that could deliver 4x growth beyond that, said Edgelow (https://ibn.fm/WMarn).
“There’s a tremendous amount of opportunity in this space right now.”
Besides growing sustainable energy alternatives in Canada, EverGen is equally dedicated to achieving “Net Zero” – a global initiative to reach carbon neutrality by 2050. With Net Zero in focus, Canada’s natural gas utilities set targets to blend RNG into natural gas streams at a rate of 5 percent by 2025 and 10 percent by 2030 (https://ibn.fm/ElShD).
Based in Vancouver, British Columbia, EverGen is an established independent renewable energy producer committed to a carbon-neutral future. The company currently focuses on building its network in Canada with the long-term goal of developing RNG infrastructure throughout North America and beyond.
For more information, visit the company’s website at www.EverGenInfra.com.
NOTE TO INVESTORS: The latest news and updates relating to EVGIF are available in the company’s newsroom at https://ibn.fm/EVGIF
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