EverGen Infrastructure Announces Record RNG Production at Fraser Valley Biogas in June 2024

Rhea-AI Summary

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.

Positive

• Record single-day RNG production of 530 GJs.
• Record monthly RNG production of 10,758 GJs.
• Successful commissioning of additional feedstock processing equipment.
• 20-year offtake and feedstock agreements in place.

Negative

• None.

VANCOUVER, British Columbia--(BUSINESS WIRE)-- EverGen Infrastructure Corp. (“EverGen” or the “Company”) (TSXV: EVGN) (OTCQX: EVGIF) is pleased to announce it has achieved new record single-day and monthly production of Renewable Natural Gas (“RNG”) at the Fraser Valley Biogas facility for June of 2024. The new production records are as follows:

Daily Production Record: 530 GJs
Monthly Production Record: 10,758 GJs

In addition to the record production it has now successfully commissioned additional feedstock processing equipment, which allows the facility to accept an increased range of feedstock.

“The record production at Fraser Valley Biogas demonstrates our team’s ability to deliver a world class RNG facility,” said Mischa Zajtmann, CEO of EverGen. “With the previously announced 20-year offtake and feedstock agreements now in place, we look forward to continuing to deliver increased volumes to FortisBC.”

About Fraser Valley Biogas

FVB, a wholly owned subsidiary of EverGen, is the original producing RNG project in Western Canada and first project to inject RNG into FortisBC’s network, part of the North American natural gas infrastructure network. The facility combines anaerobic digestion and biogas upgrading to produce RNG, including converting agricultural waste from local dairy farms. FVB also produces an organic liquid fertilizer that is used by surrounding farms to displace synthetic fertilizers. This macronutrient rich, odour free fertilizer has been a key part of many local farms’ nutrient management planning for over a decade.

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 revenue growth 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 22, 2024, 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/20240703818991/en/

Co-founder & CEO

Mischa Zajtmann

604-202-7004

mischa@evergeninfra.com

Source: EverGen Infrastructure Corp.

FAQ

What were the record production figures for EverGen Infrastructure's Fraser Valley Biogas facility in June 2024?

The Fraser Valley Biogas facility achieved a single-day production record of 530 GJs and a monthly production record of 10,758 GJs in June 2024.

What new equipment has EverGen Infrastructure commissioned at Fraser Valley Biogas?

EverGen Infrastructure has successfully commissioned additional feedstock processing equipment at the Fraser Valley Biogas facility.

What agreements support EverGen Infrastructure's increased RNG production?

EverGen Infrastructure's increased RNG production is supported by 20-year offtake and feedstock agreements.

Which company will receive the increased RNG volumes from EverGen Infrastructure?

FortisBC will receive the increased RNG volumes from EverGen Infrastructure.

What is the stock symbol for EverGen Infrastructure?

The stock symbol for EverGen Infrastructure is EVGIF.