EverGen Infrastructure Announces Completion of the Fraser Valley Biogas Expansion and Delivery of First Gas

Rhea-AI Summary

EverGen Infrastructure Corp. (EVGN) has successfully completed the Fraser Valley Biogas expansion, positioning itself as a leader in Renewable Natural Gas production. The facility is expected to double its output, producing 160,000 gigajoules of RNG annually.

VANCOUVER, British Columbia--(BUSINESS WIRE)-- EverGen Infrastructure Corp. (“EverGen” or the “Company”) (TSXV: EVGN) (OTCQX: EVGIF), announces the successful completion of the Fraser Valley Biogas expansion and the delivery of first gas injection.

Having acquired the facility in 2021, EverGen has delivered Fraser Valley Biogas’s original intended design, positioning itself as a leader in Renewable Natural Gas (“RNG”) production. Fraser Valley Biogas is now poised to enter a ramp-up phase to reach its full design capacity, ultimately doubling output which is expected to produce 160,000 gigajoules of RNG annually.

“With the successful completion of the Fraser Valley Biogas expansion and the delivery of first gas, we continue to fulfill our commitment to advance renewable energy solutions in Canada,” said Mischa Zajtmann, CEO of EverGen. “I am proud of what our team achieved in delivering this significant milestone for the Company.”

“The seamless integration of our facility’s original design, under EverGen’s management and operations team, showcases our capacity and capability to execute these RNG projects,” said Jamie Betts, COO of EverGen. “This is a model that can be replicated across the platform as we continue to prioritize core project delivery.”

About Fraser Valley Biogas

Fraser Valley Biogas is British Columbia’s first RNG facility and has been digesting manure and off-farm organics since 2011. The RNG generated through this project is part of FortisBC’s program to supply renewable gas to homes, businesses and its customers. Fraser Valley Biogas also provides Abbotsford farms with renewable fertilizer via the digestate produced as part of the RNG process. EverGen acquired Fraser Valley Biogas in early-2021.

Find the latest Corporate Presentation in the Investor Center: https://www.evergeninfra.com/investor-center

About EverGen Infrastructure Corp.

EverGen, Canada’s Renewable Natural Gas Infrastructure Platform, is combating climate change and helping communities contribute to a sustainable future. Headquartered on the West Coast of Canada, EverGen is an established independent renewable energy producer which acquires, develops, builds, owns, and operates a portfolio of Renewable Natural Gas, waste to energy, and related infrastructure projects. EverGen is focused on Canada, with continued growth expected across other regions in North America and beyond.

For more information about EverGen Infrastructure Corp. and our projects, please visit www.evergeninfra.com.

Forward-Looking Information

This news release contains certain forward-looking statements and/or forward-looking information (collectively, “forward looking statements”) within the meaning of applicable securities laws. When used in this release, such words as “would”, “will”, “anticipates”, “believes“, ”explores“, ”expects“ and similar expressions, as they relate to EverGen, or its management, are intended to identify such forward-looking statements. More particularly, and without limitation, this press release contains forward looking statements and information concerning the Company’s expectations regarding RNG production and future financial or operating performance. Such forward-looking statements reflect the current views of EverGen with respect to future events, and are subject to certain risks, uncertainties and assumptions. Many factors could cause EverGen’s actual results, performance or achievements to be materially different from any expected future results, performance or achievement that may be expressed or implied by such forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits EverGen will derive therefrom, and accordingly, readers are cautioned not to put undue reliance on the forward-looking statements contained in this press release.

The Company cautions that these forward-looking statements are subject to numerous risks and uncertainties, including but not limited to: the impact of general economic conditions in Canada, including the current inflationary environment; industry conditions including changes in laws and regulations and/or adoption of new environmental laws and regulations and changes in how they are interpreted and enforced, in Canada; volatility of prices for energy commodities; change in demand for clean energy to be offered by EverGen; competition; lack of availability of qualified personnel; obtaining required approvals of regulatory authorities in Canada; ability to access sufficient capital from internal and external sources; optimization and expansion of organic waste processing facilities and RNG feedstock; the realization of cost savings through synergies and efficiencies expected to be realized from the Company’s completed acquisitions; the sufficiency of EverGen’s liquidity to fund operations and to comply with covenants under its credit facility; continued growth through strategic acquisitions and consolidation opportunities; continued growth of the feedstock opportunity from municipal and commercial sources, and the factors discussed under ”Risk Factors” in the Company’s Annual Information Form dated April 12, 2023, which is available on SEDAR+ at www.sedarplus.ca, many of which are beyond the control of EverGen. Forward-looking statements included in this news release should not be read as guarantees of future performance or results. The forward-looking statements contained in this release are made as of the date of this release, and except as may be expressly required by applicable law, EverGen disclaims any intent, obligation or undertaking to publicly release any updates or revisions to any forward-looking statements contained herein whether as a result of new information, future events or results or otherwise. This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231221706815/en/

Co-founder & CEO

Mischa Zajtmann

604-202-7004

mischa@evergeninfra.com

Source: EverGen Infrastructure Corp.

FAQ

What is the latest announcement from EverGen Infrastructure Corp. (EVGN)?

EverGen has successfully completed the Fraser Valley Biogas expansion and delivered the first gas injection, positioning itself as a leader in Renewable Natural Gas production.

What is the expected outcome of the Fraser Valley Biogas expansion by EverGen Infrastructure Corp. (EVGN)?

The facility is expected to double its output, producing 160,000 gigajoules of RNG annually.

Who are the key executives mentioned in the press release from EverGen Infrastructure Corp. (EVGN)?

Mischa Zajtmann, CEO, and Jamie Betts, COO, are mentioned in the press release.

What is the significance of the Fraser Valley Biogas expansion for EverGen Infrastructure Corp. (EVGN)?

The successful completion of the expansion showcases EverGen's capacity and capability to execute RNG projects and advance renewable energy solutions in Canada.