- Legislative changes driven by public policy commitment to slashing greenhouse emissions are driving increased demand for renewable natural gas (“RNG”)
- RNG generation avoids toxic emissions of methane, a greenhouse gas with a warming potential 25–34 times greater than Carbon Dioxide
- EverGen, Canada’s established renewable natural gas producer, appears ready to act on this rising market opportunity in Canada and beyond; responds with plans to consolidate projects, enter merger, and acquisition transactions, and grow core portfolio projects
“We set up EverGen to execute on space that has a tremendous amount of tailwind”, are the words Chase Edgelow, co-founder and CEO of EverGen Infrastructure (TSX.V: EVGN) (OTCQB: EVGIF), an independent renewable energy producer, used in a recent interview with Proactive — one of the world’s fastest-growing financial media portals — to describe how the company is positioned within the current renewable energy marketplace. “From the organics management side, municipalities are increasingly looking to decarbonize. One of the biggest ways they can do that is by ensuring that minimal organics are going to landfills and no methane is going into the atmosphere. Those are the types of services that we provide on the front end and then green energy on the back end”, he continued, presenting details of the company’s 2021 financial results and plans for the future.
As concerns about the climate threat grow, countries around the world take urgent climate action to combat climate change and decarbonize the economy. Leading up to COP26 — the most recent annual UN climate change conference – 64 countries worldwide have pledged or legislated their commitment to achieving net-zero greenhouse emissions in the coming years.
As the global push to reduce greenhouse gas emissions has gained momentum, so did RNG — a waste-derived fuel used to power homes, businesses, and vehicles and one of the promising decarbonization technologies which prevents methane from polluting the air. Instead of allowing this greenhouse gas with a warming potential 25–34 times greater than Carbon Dioxide to enter the atmosphere, RNG technology turns it into a usable energy source (https://ibn.fm/DRgHI).
EverGen produces RNG by solving two problems at once. Not only does it offer an organic waste management solution, but it also transforms this waste — which is one of the biggest methane culprits – into a non-fossil fuel form of natural gas. The World Biogas Association estimates that organic waste from food waste, food production, farming, landfill, and wastewater treatment creates around 25% of human-caused global emissions of methane (https://ibn.fm/UCByL).
The Canadian government has demonstrated a strong commitment to achieving net-zero greenhouse gas emissions by 2050 by enacting The Canadian Net-Zero Emissions Accountability Act, heightening the industry’s interest in RNG. Following the public policy’s lead, commercial entities also take resolute action. For example, the country’s natural gas utilities have set an ambitious target of 5% RNG blended into natural gas streams by 2025 and 10% by 2030.
To seize this rising market opportunity and continue to participate in the growth and consolidation of the RNG industry, EverGen entered a letter of intent with Grow the Energy Circle Ltd. to acquire a 67% interest in a biogas facility in Alberta. The company will work with GrowTEC to develop and expand the RNG output at the facility, which is considered a cornerstone asset in a strategic jurisdiction for the Canadian RNG producer.
According to the company, this move is one of many to follow. “For us, it’s about consolidating projects, announcing merger and acquisition transactions, and growing our core portfolio projects to six and beyond. We have portfolio projects across Canada, allowing us to leverage our operational expertise from one side of the country to the other and bring projects that had been sitting on the fifty-yard line to the hundred-yard line — getting them into production and into producing green energy for the utilities, and giving Canadians real options for energy diversification”, concluded Edgelow in the interview, unveiling strategy for the company’s expansion in times to come.
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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