EverGen Infrastructure Corp. (TSX.V: EVGN) (OTCQB: EVGIF) Looks to Target Society’s Most Pressing Issues

April 7, 2022 09:05:00
  • Chase Edgelow and the EverGen Infrastructure team has sought to cater to the rapidly rising demand for carbon-free energy sources through a focus on renewable natural gas (“RNG”)
  • Current forecasts suggest that as much as 10% of North America’s natural gas demand could be satisfied by RNG in the coming future
  • EverGen is planning to expand their production footprint, recently signing a letter of intent to acquire a stake in an agricultural project in Alberta wherein biodegradable waste will be converted into RNG and sold to FortisBC
  • RNG proponents increasingly believe that the fuel source could eventually play a role in targeting two of society’s most pressing issues – the world’s growing waste production as well as its mission to achieve a carbon neutral future

The world produces over 2.12 billion tons of waste per annum; To put that figure into perspective, if all the waste was put on trucks, it would circle around the world 24 times (https://ibn.fm/UJnsY). For Chase Edgelow, that is an opportunity. The CEO and Founder of British Columbia-based EverGen Infrastructure (TSX.V: EVGN) (OTCQB: EVGIF) is creating a cutting edge renewable energy company, focused around converting organic waste into renewable natural gas (“RNG”), a non-fossil fuel form of natural gas. With governments the world over pledging to pursue a carbon neutral future in the coming years, RNG stands to play a significant role in the decarbonization of North America’s gas supply going forward. Forecasts suggest that as much as 10% of the continent’s natural gas demand could be satisfied by RNG in the not-too-distant future. Nowhere is that phenomenon more evident than within the utilities sector. 

Canada’s Enbridge Gas Inc, North America’s largest natural gas utility by volume, has already begun to work towards this goal, recently announcing a partnership to design and build eight new RNG project sites across the United States (https://ibn.fm/z7qeZ) and construct seven large-scale Canadian RNG projects with an additional 50+ projects in various stages of development; all whilst simultaneously breaking ground on what is soon set to be Ontario’s largest RNG facility by Niagara Falls (https://ibn.fm/hd2iE).

EverGen Infrastructure Corp caters to the burgeoning RNG market, most recently through the signing of a letter of intent for the acquisition of a 67% interest in a biogas facility in Alberta. The facility, which will be centred around the currently operating Perry Family Farm, will seek to convert biodegradable agricultural waste into biogas which will subsequently be upgraded to RNG for use in the gas grid. The facility has an offtake agreement with FortisBC, with the supplied RNG contributing to FortisBC’s target to source at least 15% of its gas supply from carbon neutral sources by 2030 (https://ibn.fm/7g2fF).

“We are thrilled to be partnering with GrowTEC and working with the Perry Family Farm on EverGen’s first project in the Alberta market. Alberta is a region with high quality organic feedstock and represents a strategic market for EverGen as it plans to become a dominant RNG producer in the province,” said Chase Edgelow, CEO of EverGen.

EverGen manages two organic waste processing facilities in British Columbia in addition to Fraser Valley Biogas, Western Canada’s first RNG facility which has been in production since 2011. The Net Zero Waste compost facility in Abbotsford will be expanding this year with construction of an Anaerobic Digester facility that will use blended feedstock from agricultural, municipal, and commercial organic waste to produce RNG that will feed into FortisBC’s gas network under a long-term contract. The Sea to Sky Soils facility near Pemberton, BC plans to grow its waste processing capacity by approximately 50% and has future RNG potential as well. The company has plans to further its geographic footprint, and is evaluating several RNG projects in Alberta, Ontario, and Quebec. 

Organic waste derived from food production, food waste, farming, landfill, and wastewater treatment are said to be responsible for up to 25 percent of human-caused global emissions of methane, a harmful greenhouse gas. Chase Edgelow and other RNG advocates the world over believe that they can, rather uniquely, address two critical issues through the production of renewable natural gas, namely – how to tackle the world’s increasing waste production whilst simultaneously, targeting cleaner, renewable energy sources (https://ibn.fm/6PCtJ).

“We need to deal with our waste, as humans,” [Edgelow] stated. “We need waste infrastructure. But we also want to decrease carbon emissions. So why would we let the energy from that waste infrastructure go straight into the atmosphere and go to waste?”

For more information about EverGen Infrastructure Corp. and its projects, 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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