- Agricultural digestion produces biogas by breaking down organic matter, including livestock manure, crop residues, and food waste
- Biogas is purified to create renewable natural gas, fully compatible with existing pipeline networks
- EverGen currently owns and operates five RNG and/or organic processing facilities across Canada
- RNG produced at Fraser Valley Biogas, Net Zero Waste Abbottsford, and GrowTEC bought by large Canadian utility company via long-term offtake agreement
Agricultural digestion produces biogas by breaking down organic matter such as livestock manure, crop residues, and food waste. The biogas is then purified of water vapor, sulfide, siloxanes, and hydrogen sulfide to create renewable natural gas – an environmentally friendly alternative that is fully compatible with existing pipeline networks.
EverGen Infrastructure (TSX.V: EVGN) (OTCQX: EVGIF) aims to advance Canada’s RNG infrastructure by building a network spanning 20+ facilities within five years. The company acquires, develops, builds, owns, and operates a portfolio of RNG waste-to-energy and related infrastructure projects on the west coast in British Columbia, and towards the east with facilities in Alberta and Ontario.
RNG is considered environmentally sustainable because it is derived from sources that otherwise would release methane into the atmosphere while decomposing. RNG production can also help increase crop yields by creating digestate – a nutrient-rich byproduct of the agricultural digestion process that can be used as a fertilizer. In addition, RNG production from waste does not consume land or other natural resources and can help protect areas by diverting waste from landfills.
Biogas demand is escalating substantially as governments worldwide shift their focus toward the use of renewable energy. Increased RNG use by gas utilities is expected to additionally catalyze growth. According to Grandview Research, the global biogas market size was valued at over $60 billion in 2021 and is expected to grow at a CAGR of 4.3% from 2022 to 2030 (https://ibn.fm/k1Xzf).
Many countries worldwide are leveraging the sustainable power of RNG, including the United States, Canada, and eighteen countries in the European Union (https://ibn.fm/fpoQD). Further, to meet emission-reduction goals, many gas utilities across North America have set targets to blend RNG into their natural gas supplies that range from 5-15%. Management at EverGen believes these shifts present a potential C$16 billion+ opportunity for RNG producers.
EverGen owns and operates five RNG and/or organic processing facilities across Canada. These include Fraser Valley Biogas, Sea to Sky Soils, and Net Zero Waste Abbottsford in British Columbia, a 67% ownership in Alberta-based GrowTEC, and a 50% stake in Ontario-based Project Radius. RNG produced at Fraser Valley Biogas, Net Zero Waste Abbottsford, and GrowTEC is bought via long-term offtake agreements by FortisBC – the largest natural gas distributor in British Columbia.
“Really, what EverGen is doing is facilitating the build of that infrastructure to take organic waste and convert it into usable RNG in the existing pipeline network,” said EverGen CEO Chase Edgelow in a recent interview (https://ibn.fm/1d2ij). “The utilities are providing 20-year offtake agreements for our projects, so this provides us a stable cashflow profile that allows us to continue to expand across the country.”
EverGen Infrastructure Corp. is an established independent renewable energy producer aiming to develop RNG infrastructure across Canada. With a focus on sustainability, the company is emerging as a leader committed to powering a net-zero future based on renewable energy sources.
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://ibn.fm/EVGIF
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