Providing Increased Capability to Meet Clean Energy Goals for Transition of the Gas Network Nationwide
VANCOUVER, BRITISH COLUMBIA, March 25, 2021 -- EverGen, Canada’s Renewable Natural Gas (RNG) Infrastructure Platform, announces that it has completed raising an additional $17 million to address a significant gap in renewable infrastructure across Canada, specifically focused on acquiring and building RNG & sustainable waste to energy projects. EverGen has raised $8 million in equity capital (via a special warrants offering) and secured a senior debt facility of $9 million to pursue this strategy. This follows EverGen’s previous financing and major project acquisitions of Sea to Sky Soils in Pemberton, BC and Net Zero Waste Abbotsford Inc. that were completed in December 2020
“There is a dire need for a Canadian-based platform focused on building, owning and operating renewable natural gas infrastructure to support the clean energy goals and demand of FortisBC and other utilities across Canada,” explains EverGen Co-Founder and CEO Chase Edgelow. “Starting in BC, but with plans for further expansion, EverGen has the leadership and capability to ‘infra-tize’ Canada’s fragmented renewable natural gas industry, meaning we apply a disciplined and practical approach to developing the necessary infrastructure to ensure long term sustainable returns for our investors, our communities and our stakeholders.”
About EverGen’s Projects
Sea to Sky Soils, located near Pemberton, British Columbia, is a composting and organic processing facility with existing municipal and commercial partnerships throughout the Sea to Sky corridor and Lower Mainland. The facility accepts organic waste (diverted from the landfill via green bin programs) and recycles it using proven composting technology into soil amendments and Class A compost for use by local farms and developers as part of the circular economy. Sea to Sky Soils is proud to be in partnership with the Lil'wat Nation and committed to the Lil'wat community, having operated on Lil’wat Nation land since 2012. In addition, Sea to Sky Soils has employed a majority of staff from the First Nation since inception and supports social, cultural and recreation programs in Mount Currie.
Net Zero Waste Abbotsford Facility
Net Zero Waste Abbotsford, is a composting and organic processing facility located in Abbotsford, British Columbia, with existing municipal and commercial partnerships throughout the Lower Mainland. The facility accepts municipal organic/green bin waste (diverted from the landfill via green bin programs) and recycles it using proven composting technology into soil amendments and Class A compost for use by local farms and developers as part of the circular economy.
Sustainable RNG Infrastructure Projects
EverGen’s projects involve the construction of infrastructure to capture and clean biogas (which may come from a variety of feedstock sources including organic waste, agricultural waste and wastewater) using proven technology to create sustainable or renewable natural gas as a clean energy source for our future.
For more information about EverGen Infrastructure Corp., visit www.evergeninfra.com.
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About EverGen Infrastructure Corp.
EverGen, Canada’s Renewable Natural Gas Infrastructure Platform, is combating climate change and helping communities contribute to a sustainable future, starting on the West Coast. Incorporated in 2020, EverGen is now established to acquire, develop, build, own and operate a portfolio of Renewable Natural Gas, waste to energy, and related infrastructure projects. EverGen is focused on British Columbia with continued growth expected across other regions in North America.
For more information about EverGen Infrastructure Corp. and our projects please, visit https://www.evergeninfra.com.
For inquiries, please contact:
EverGen Media Contact
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements.