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EverGen Infrastructure Corp. (TSX.V: EVGN) (OTCQB: EVGIF) Positioned for Growth Amid Compelling Market Opportunities for Expansion; Reports Financial Results
May 12, 2022

EverGen Infrastructure Corp. (TSX.V: EVGN) (OTCQB: EVGIF) Positioned for Growth Amid Compelling Market Opportunities for Expansion; Reports Financial Results

  • Tackling climate change opens up potentially compelling opportunities for growth for businesses driven by ESG values such as EverGen
  • Company is eyeing growth opportunities – both nationally and internationally – as RNG gathers steam in the world’s bid to combat climate threat
  • EverGen aims to unite social and environmental responsibility with market success; reports quarterly and annual financial results, announces plans to expand project pipeline

EverGen Infrastructure (TSX.V: EVGN) (OTCQB: EVGIF), an established independent renewable natural gas producer based in Canada, appears ready for rapid growth as the Company seeks opportunities to expand its market presence amid the strong global push for slashing the carbon footprint across the world. The Company recently reported financial results as at and for the three-month period and year ended December 31, 2021, highlighting important milestones achieved during the past year (https://ibn.fm/F40E0).

As the climate threat becomes one of the most pressing challenges of this generation and many more to come, decarbonization of the economy becomes a crucial element of the climate change solution. The goal of greenhouse emission cuts is to slow the pace of the world’s progression toward a dangerous temperature level beyond which climate impacts could be more severe and pervasive, resulting in floods, droughts, and extreme heatwaves. Renewable natural gas (“RNG”) offers an alternative energy source generated from processing feedstocks such as animal and food waste as well as crops and crop residue. RNG solves a number of pressing environmental problems, from reducing carbon emissions to responsible waste disposal. 

With the Environmental, Social, and Governance (“ESG”) values deeply ingrained in the company’s business model, EverGen aims to connect social and environmental responsibility with commercial success. In 2021, EverGen generated CAD 9.6 million of revenues and CAD 2.8 million of adjusted EBITDA, in line with expectations. In addition, the Company had its public market debut during the past year. After the initial public offering in August 2021, EverGen has maintained its strong cash position, reporting cash and cash equivalents of CAD 19.6 million, restricted cash of CAD 2.7 million and a working capital surplus of CAD20.9 million as of December 31, 2021, which gives the Company a unique opportunity to execute on existing and forthcoming growth projects.

The year 2021 was transformational for EverGen. It was the year when the Company laid the foundation for growth, poised to assume a leading position in the RNG infrastructure space in time to come. As a company focused on acquiring, developing, and operating a portfolio of renewable natural gas, waste to energy, and related infrastructure projects, EverGen remains committed to delivering strong shareholder returns in 2022 and beyond by leveraging a number of competitive advantages, including the established platform as the first mover in Canada, recently enhanced management team, growing project pipeline and diversified access to capital.

As one of the key players in the Canadian RNG space, EverGen boasts an expanding project pipeline and ample acquisition opportunities. The Company believes that the Canadian RNG industry is ready for consolidation, offering compelling opportunities for growth through acquisition. The management team is evaluating several projects across the country in a bid to replicate what has been successful with its existing assets. In line with these efforts is the Company’s recently announced letter of intent to acquire a 67% interest in GrowTec, an Alberta-based biogas facility. 

This acquisition opportunity appears to be one of many EverGen intends to pursue across its domestic market, investing in genuinely sustainable operations that contribute to carbon-negative energy production and positively impact climate change initiatives. Furthermore, this Vancouver-based renewable energy producer appears to be on the path to competing on the global RNG stage as it eyes opportunities for continued growth internationally, across North America and more. 

To deliver on these ambitious targets, EverGen has further fortified its management team, attracting talent from across the RNG and waste management industries to support the Company in its efforts to scale the business. The team of leaders inspired by values of sustainable growth has established the company as a reliable RNG infrastructure platform that can contribute to the reduction of greenhouse gas emissions.

Committed to being part of the circular economy and combating climate change toward a carbon-free future, EverGen is driven by ESG goals beyond environmental. Not only is it tackling the climate threat by producing renewable natural gas, but it also appears unequivocally committed to making a meaningful impact in the communities where it operates, helping them contribute to a sustainable future. The Company boasts a long-term partnership with First Nations and municipalities across BC that is designed to contribute to their economic and social upliftment by employing their talent and supporting social, cultural, and recreational programs targeted at these communities. 

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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