- Formed just two years ago, EverGen began with the acquisition of two waste-to-energy facilities in British Columbia
- In the last two months, EverGen has expanded its Canadian presence, making acquisitions of facilities and projects in Alberta and Ontario
- The company is targeting RNG production in excess of 1 million gigajoules annually
Have garbage, will travel. That could easily be the mantra of Chase Edgelow and Mischa Zajtmann, the founders of EverGen Infrastructure (TSX.V: EVGN) (OTCQB: EVGIF), a company working on disrupting Canada’s energy industry with its renewable natural gas (“RNG”) infrastructure platform. As recently as May, EverGen described itself as being focused on its home province of British Columbia, but that is no longer the case, as the company has made important acquisitions that have taken EverGen’s organic waste-to-energy technology as far east as Ontario so far.
With RNG, different types of organic waste (e.g., food or agricultural waste) are feedstock for an anaerobic digester where it can be turned into digestate or biogas. Digestate is used for products such as fertilizer and soil amendments. The biogas is further processed with the RNG output comparable with pipeline-grade natural gas. RNG is Earth-friendly and sustainable, requiring no drilling while making meaningful use of rubbish rather than sending it to a landfill where it rots and emits greenhouse gases.
Edgelow and Zajtmann formed EverGen in 2020 for the purpose of acquiring, developing, building, owning, and operating a portfolio of RNG and related infrastructure projects. The initial focus was B.C., where EverGen bought its first two organic waste processing facilities and began establishing relationships with utilities to purchase their RNG, which would be added to the gas grid.
For its feedstock, EverGen has contracts with municipalities and waste haulers. For its production, EverGen has fixed-price, long-term contracts to supply RNG to offtake partners, including FortisBC.
Earlier this month, EverGen announced closing its acquisition of a 67% interest in Grow the Energy Circle Ltd., marking its entrance into the Alberta energy market. Located on the Perry Family farm outside Lethbridge, Alberta, GrowTEC is an operating farm scale biogas facility consisting of an anaerobic digester which has been converting biodegradable waste into biogas and generating renewable power for over seven years. With EverGen in the mix, the facility is undergoing some upgrades to process the biogas into RNG, which will be purchased by FortisBC as part of its goal to have a minimum of 15 percent of its gas supply carbon neutral by 2030.
The GrowTEC acquisition came six weeks after EverGen inked a deal with Northeast Renewables LP to acquire a 50% interest in a portfolio of RNG development projects in southern Ontario known as Project Radius. Project Radius is a late-development-stage portfolio of three high-quality, on-farm RNG projects, collectively capable of producing about 1.7 million gigajoules (“GJ”) annually of RNG. The three projects are expected to be constructed during 2023-2024. Feedstock supply and offtake agreements are being negotiated.
“EverGen is expanding across the country, now in three of the four largest Canadian jurisdictions for RNG. Our focus on industry consolidation and the build out of our RNG infrastructure platform is well underway as we move toward the potential to produce over 1,000,000 GJ of RNG annually,” said Chase Edgelow in a press release on the GrowTEC investment.
To that end, the company has erased its “focus on the West Coast of Canada” and replaced it with “continued growth expected across other regions in North America and beyond.”
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://nnw.fm/EVGIF
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