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EverGen Infrastructure Corp (EVGIF) is a leading provider of sustainable infrastructure solutions. The company focuses on renewable energy projects, waste management, and water treatment facilities. With a strong emphasis on environmental sustainability, EverGen is committed to reducing carbon emissions and promoting a cleaner, greener future. Their innovative approach to infrastructure development has led to numerous successful projects across North America, positioning them as a key player in the industry.
EverGen Infrastructure Corp. (TSXV: EVGN) (OTCQX: EVGIF) has announced that its operating farm scale biogas facility, Grow the Energy Circle (GrowTEC), has been awarded up to $2 million from Agriculture and Agri-Food Canada (AAFC) for Phase 2 of its anaerobic digester expansion project. This funding will support the significant expansion and optimization of RNG production at the GrowTEC facility.
The expansion will increase the facility's annual production capacity to up to 120,000 gigajoules of RNG. EverGen plans to install preprocessing and depackaging equipment to broaden the range of organic waste the facility can process and enhance the RNG upgrading system. The GrowTEC facility currently holds two long-term offtake agreements: a 20-year contract with FortisBC and a 10-year contract with Irving Oil.
EverGen Infrastructure Corp. (TSXV: EVGN) (OTCQX: EVGIF) has announced a change in its auditors. PricewaterhouseCoopers LLP, the former auditor, was terminated effective October 1, 2024. Davidson & Company LLP has been appointed as the successor auditor from the same date until the next Annual General Meeting.
The change was initiated by the company and approved by both the board of directors and the audit committee. Importantly, there were no reservations, modified opinions, or reportable events in the former auditor's reports on EverGen's financial statements for the period covering the company's two most recently completed financial years up to the termination date.
In compliance with National Instrument 51-102, the Notice of Change of Auditor and required letters from both auditors have been reviewed by EverGen's audit committee and board of directors, and subsequently filed on SEDAR+.
EverGen Infrastructure Corp. (TSXV: EVGN) (OTCQX: EVGIF) reported record financial results for Q2 2024. Revenues increased by 96% to $4.2 million, primarily due to record RNG production from the Fraser Valley Biogas (FVB) project and GrowTEC facility. The company achieved a net loss of $0.9 million, consistent with Q2 2023. Adjusted EBITDA rose to $1.1 million, up from $0.4 million in Q2 2023. Key milestones include executing a 20-year RNG offtake agreement with FortisBC and a long-term feedstock supply contract at FVB. The company's RNG production increased by 555% to 42,219 gigajoules. CEO Mischa Zajtmann highlighted the company's positioning for significant, sustained growth in the renewable energy sector.
EverGen Infrastructure Corp. (TSXV: EVGN) (OTCQX: EVGIF) has announced the release date for its 2024 second quarter financial results. The company will publish the results on Wednesday, August 21, 2024, after market close. A conference call to discuss the results and provide a corporate update is scheduled for Thursday, August 22, 2024, at 4:00 p.m. Eastern Time.
Additionally, EverGen has granted 69,354 restricted share units (RSUs) and 94,141 stock options to certain executive officers on June 17, 2024. The stock options have an exercise price of $2.21 per share, a seven-year exercise period, and will vest annually over three years.
EverGen Infrastructure Corp. (TSXV: EVGN, OTCQX: EVGIF) announced record Renewable Natural Gas (RNG) production at its Fraser Valley Biogas facility in June 2024. The facility achieved a single-day production record of 530 GJs and a monthly production record of 10,758 GJs. Additionally, EverGen successfully commissioned new feedstock processing equipment, expanding the range of acceptable feedstock. CEO Mischa Zajtmann highlighted the company's commitment to increasing RNG volumes for FortisBC, supported by recently established 20-year offtake and feedstock agreements.
EverGen Infrastructure Corp. (TSXV: EVGN, OTCQX: EVGIF) has signed a 20-year offtake agreement with FortisBC Energy Inc. for purchasing up to 160,000 GJs of Renewable Natural Gas (RNG) annually. This deal, pending approval by the British Columbia Utilities Commission, provides EverGen with a long-term revenue stream and ensures a stable RNG supply for FortisBC. Additionally, EverGen has secured a feedstock supply agreement covering more than 50% of the off-farm waste needed for the Fraser Valley Biogas facility. This move aims to de-risk the FVB project by ensuring input security.
EverGen Infrastructure reported its Q1 2024 financial results, showcasing significant advancements.
Key highlights include record quarterly revenues of $3.2 million, a 92% increase year-over-year, driven by enhanced RNG production.
Fraser Valley Biogas achieved record daily and monthly RNG output following a project completion in December 2023.
Despite an improved adjusted EBITDA of $0.7 million, the company posted a net loss of $1.3 million, up from $1.0 million in Q1 2023, due to the absence of gains from contingent considerations.
Operational achievements encompass a 300% rise in RNG production to 35,440 gigajoules and a 144% increase in organic compost sales.
EverGen Infrastructure Corp. (TSXV: EVGN, OTCQX: EVGIF) has announced the release of its 2024 first quarter financial results on May 28, 2024, after market close.
The company will host a conference call on May 29, 2024, at 11:00 a.m. ET to discuss the results, led by CEO Mischa Zajtmann and CFO Sean Hennessy.
Investors and stakeholders can join the call via a provided Zoom link.
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