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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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