InvestorWire NewsRoom

InvestorNewsBreak

InvestorNewsBreaks – EverGen Infrastructure Corp. (TSX.V: EVGN) (OTCQB: EVGIF) Releases Q3 2022 Earnings Report and Corporate Update, Plans Earnings Call
November 22, 2022

InvestorNewsBreaks – EverGen Infrastructure Corp. (TSX.V: EVGN) (OTCQB: EVGIF) Releases Q3 2022 Earnings Report and Corporate Update, Plans Earnings Call

EverGen (TSX.V: EVGN) (OTCQB: EVGIF), Canada’s renewable natural gas (“RNG”) infrastructure platform, has released its financial results and corporate update for the three- and nine-month periods ended Sept. 30, 2022. The Q3 report milestones include quarterly revenue numbers that were in line with last year, poised for growth with core expansion projects under construction on schedule and on budget; a signed term sheet for a long-term RNG offtake agreement at Fraser Valley Biogas (“FVB”); the completed acquisition of GrowTEC and construction of RNG expansion reaching 80% completion; secured funding for EVGN’s core RNG expansion projects, including a signed term sheet for a $31 million senior term loan; and the groundbreaking of the FVB expansion project. Specific financial numbers (all amounts are in Canadian dollars) show cash and cash equivalents of $12.8 million post-Capex spend of $3.5 million and $1.5 million of insurance proceeds received; revenues of $2 million, up from $1.9 million in Q3 2021; net income loss of ($1.8) million; and adjusted EBITDA of $0.7 million, which was in line with Q3 2021 results of $0.8 million, despite a carryover impact from flood-related costs as well as increased general and administrative costs related to future growth. The company has scheduled a Zoom earnings conference call, which will be held today at 10 a.m. ET. EverGen CEO Chase Edgelow will host the call. “It is an exciting time for EverGen with strong momentum in the RNG market and as one of the first movers in Canada in terms of consolidating assets across the country,” said EverGen CEO Chase Edgelow in the press release. “We are thrilled with the progress at our core RNG expansion projects that, once producing, will see us jump from C$3 million to C$13 million in run rate EBITDA and are fully funded. With our GrowTEC facility commissioning imminently and construction at Fraser Valley Biogas underway, we are anticipating a strong start to 2023.”

To participate in the zoom call, visit https://ibn.fm/1T5C9

To view the full press release, visit https://ibn.fm/5dpoG

About EverGen Infrastructure Corp.

EverGen, Canada’s renewable natural gas infrastructure platform, is combating climate change and helping communities contribute to a sustainable future. EverGen is an established independent renewable energy producer that acquires, develops, builds, owns and operates a portfolio of renewable natural gas, waste-to-energy and related infrastructure projects. EverGen is focused on Canada, with continued growth expected across other regions in North America and beyond. For more information about EverGen and its products, visit 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

About InvestorWire

InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent.

As part of its service, InvestorWire provides coverage of noteworthy announcements. To further expand visibility of achievements being made throughout a multitude of sectors, InvestorWire’s syndication partners have extended the digital coverage to include individual broadcasts on financial websites and platforms visited by millions of investors daily.

For more information, please visit https://www.investorwire.com

Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://ibn.fm/Disclaimer

InvestorWire (IW)
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
310.299.1717 Office
www.investorwire.com
[email protected]

InvestorWire is part of the InvestorBrandNetwork.

Recent NewsBreaks

NewsBreaks Categories

Get Started with InvestorWire

To distribute a release in the next 24 hours. Contact our client services team.

(310) 299-1717

Distribute a press release. Submit your release to get started.

Submit Press Release

Set up a Live demonstration. Schedule a date and time that works for you.

Schedule a LIVE Demo

Press Distribution

Explore Press Distribution Solutions

All releases include an unlimited word count* with full wire-grade syndication, our press release enhancement service, and a follow-up InvestorNewsBreak article distributed to thousands of editorial syndication partners.

Discover Add-on Solutions

Increase the impact of your achievements by adding these exclusive solutions from InvestorWire, delivered in conjunction with the InvestorBrandNetwork (IBN).