- Unlike fossil fuels, renewables are on the rise as climate and energy crises accelerate and countries rush to implement a range of policy responses
- Among renewable energy sources, biogas, also called renewable natural gas, solves for two modern challenges – bloated landfills and the need for rapid decarbonization
- EverGen emerges as a leader committed to powering a sustainable, net-zero future by tapping into the power of organic waste to electrify homes and vehicles using biogas
The energy sector seems to be at a crossroads: on one side, there are renewables – an emerging green energy sector such as solar, wind, hydro, biofuels, and others that aim to facilitate the transition to a more sustainable economy. And on the other, there are traditional, fossil-based sources – a class of energy has-beens that economies are slowly trying to wean themselves off of. As the energy transition accelerates in the wake of the climate and energy crises, the world needs more renewable energy to replace fossil fuels. That is where companies like EverGen Infrastructure (TSX.V: EVGN) (OTCQX: EVGIF), a leading Canadian renewable energy company, step in to offer solutions designed to speed up the shift toward a greener future.
Coal-fired power generation is expected to keep its downward trend, sinking from 20% of the U.S. energy mix in 2022 to 18% this year and 17% in 2024. A recent Morgan Stanley report expects renewable energy to entirely replace coal in as little as ten years (https://ibn.fm/fx2HJ). Gas is also projected to decline from 38% in 2023 and 37% in 2024. In contrast, renewables will continue to rise, reaching 24% of the generating mix in 2023 and 26% in 2024 (https://ibn.fm/KBXJ4).
Among currently available renewable options, biogas has some unique benefits. For example, sourcing energy from biogas could offer the optimal solution to two challenges of the modern world: mounting waste and the need to decarbonize the economy.
As a blend of gases created from waste materials like food waste, municipal waste, animal manure, plant material, and sewage – all of which methane and carbon dioxide make up the majority – biogas can release energy when oxygen is present during the burning process. This energy can be used for producing electricity, food preparation, transportation, and heating, which makes it a promising bioenergy source amid the heated fight against the threat of climate change (https://ibn.fm/Grotz).
Also called renewable natural gas (“RNG”), biogas is considered carbon-negative and, as such, can substantially lower the greenhouse gas (“GHG”) impact of the natural decomposition of waste, the process that releases methane into the atmosphere. Instead, these emissions are captured and transformed into biogas which is then cleaned to create a carbon-neutral or carbon-negative energy source that can be used in the existing gas pipeline grids. But the benefits of biogas do not stop here — byproducts of this process, including liquid and solid digestate matter, can be used as fertilizer and in other applications.
As a result, the global biogas or RNG market is expected to demonstrate considerable growth during 2023-2032. Valued at USD 3250.14 million in 2021, it is projected to grow at a CAGR of 14.5% by 2027, reaching USD 7323.37 million. Top regions include North America, Europe, and Asia-Pacific (https://ibn.fm/ZBOsg).
Tapping into the power of organic waste to electrify homes and vehicles across Canada, EverGen aims to combat climate change by acquiring, developing, and operating a portfolio of renewable natural gas, waste-to-energy, and other infrastructure projects.
Run by industry veterans with decades of combined experience across the energy and infrastructure sectors, EverGen maintains a commitment to continued growth beyond its home market in Canada into other regions of North America. The Company operated three projects in British Columbia before expanding its Canadian presence in 2022 by acquiring a 67% ownership in GrowTEC, an Alberta-based biogas project and a 50% stake in a late-development-stage portfolio of three high-quality, on-farm RNG projects. Founded in 2020, this young company poised for growth went public in 2021 to capitalize on the strong momentum of the green sector.
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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