- The global waste-to-energy market size is projected to grow from $32.15 billion in 2021 to $44.62 billion in 2029, representing a compound annual growth rate of 4.3 percent
- Sea to Sky Soils (“SSS”), a unit of EverGen Infrastructure Corp., is a leading processor of organic waste in B.C., processes inbound organic waste for a fee, turning it into high-quality organic compost and soils
- In recent weeks, SSS signed multiple contracts for the processing of organic waste at its facility, which provides over 10,000 tonnes per annum. The contract updates provide SSS with increased certainty on the supply of organic feedstock through 2025
Owing to rapid urbanization and bloated landfills, amongst other factors, waste management has become a problem on a global scale. Waste-to-energy is a solution that is gaining traction, turning a liability into an asset while matching government mandates to reduce dependence on fossil fuels and slash emissions across the board. The uptake is beneficial to companies like EverGen Infrastructure (TSX.V: EVGN) (OTCQX: EVGIF) and its portfolio of projects specialized in converting municipal, agricultural, water, and other types of waste into readily usable energy.
Waste-to-energy is a technologically advanced method of waste management whereby organic material that would otherwise be burned, buried, or left to rot is processed into heat, energy, or other functional products, such as fertilizer. According to Fortune Business Insights, the global waste-to-energy market size is projected to grow from $32.15 billion in 2021 to $44.62 billion in 2029, representing a compound annual growth rate of 4.3 percent.
EverGen, known as “Canada’s Renewable Natural Gas (“RNG”) Infrastructure Platform” because of its market-leading position in the sector, is combating climate change and helping communities contribute to a sustainable future. The British Columbia-based company is partnered with municipalities, corporations, and farms to collect feedstock for its anaerobic digestors that start the process that produces biogas, digestate, or RNG, a green alternative that is indistinguishable from conventional natural gas.
On the downstream side, EverGen has multiple agreements to supply FortisBC, one of Canada’s largest natural gas utilities, with essentially all the RNG it can produce.
The company’s projects and operations include Fraser Valley Biogas, Net Zero Waste Abbotsford, GrowTec, Project Radius, and Sea to Sky Soils. EverGen has four assets generating revenue, two RNG expansions under construction, and one greenfield 3-phase in development. The pipeline includes 8,000,000 gigajoules of RNG production, 1.7 million of which are part of Project Radius in Ontario.
Sea to Sky Soils (“SSS”) is one of the current EverGen revenue generators as an organics processing facility in B.C. SSS is partnered with the Lil’wat Nation, operating on the community’s land since 2012 and employing the majority of staff from the First Nation community while actively supporting it. Working with the indigenous people is in tune with the Sea to Sky Soil’s focus of a circular economy creating top quality soil amendments and blends for use on farms, gardens, and landscapes from local municipal and agricultural waste.
The company processes inbound organic waste for a contracted tipping fee, subsequently converting it into high-quality organic compost and soils for farmers, gardeners, and developers.
In recent weeks, SSS signed multiple contracts with a B.C. regional district for the processing of organic waste at the facility, which provides over 10,000 tonnes per annum. The company has applied to expand permitted capacity to 60,000 tonnes per annum. The contract updates provide SSS with increased certainty on the supply of organic feedstock through 2025 with a preferred partner.
A top processor of organics in B.C., EverGen is committed to own and operate the best-in-class facilities to provide its municipal and commercial partners cost-effective, sustainable solutions for waste. The company is checking all the boxes for sustainability and regional support, including building infrastructure, supplying jobs, providing waste management solutions, helping local agriculture, and generating greenhouse-gas-free energy.
“Contracts such as this de-risk our core business and represent another step towards our goal of providing solutions for over 300,000 tonnes of organic waste per annum in the region,” said Chase Edgelow, CEO of EverGen.
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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