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New Listing: EverGen Infrastructure Corp. (TSXV:EVGN)

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EverGen Infrastructure was incorporated in early 2020, EverGen was established to acquire, develop, build, own and operate a portfolio of renewable natural gas, waste to energy, and related infrastructure projects.

Additional Information:

Company: EverGen Infrastructure Corp.
Website: http://www.EverGenInfra.com
Stock Symbol: TSXV: EVGN
Date Published: Aug 11, 2021
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for Investmentpitch Media

EverGen Infrastructure Corp. is one of the latest new listings on the TSX Venture Exchange, trading under the symbol “EVGN”, following its initial public offering.

The company raised gross proceeds of $20,020,000 from the placement of 3,080,000 units priced at $6.50 per unit.

Each unit consisted of one share and one-half a warrant, with each full warrant exercisable at $10.50 for 24 months.

The shares are trading at $6.00.

Incorporated in early 2020, EverGen was established to acquire, develop, build, own and operate a portfolio of renewable natural gas, waste to energy, and related infrastructure projects.

Over the last 9 months, the company acquired Sea to Sky Soils, Net Zero Waste Abbotsford, and Fraser Valley Biogas, BC’s original renewable natural gas facility which is directly connected into the North American natural gas infrastructure network.

Renewable natural gas is produced differently than conventional natural gas.

It is derived from biogas, which is produced from decomposing organic waste from landfills, agricultural waste and wastewater from treatment facilities.

In April 29, the company’s wholly owned subsidiary Net Zero Waste Abbotsford entered into a 20-year offtake agreement with FortisBC Energy Inc.

Under the agreement, FortisBC will purchase up to 173,000 gigajoules of Renewable natural gas annually for injection into its natural gas system

EverGen plans to begin construction on the anaerobic digester at its Net Zero Waste Abbotsford facility later this year.

Upon regulatory approval and completion, EverGen expects to start supplying FortisBC with Renewable Natural Gas by the end of 2022.

At the time, Chase Edgelow, EverGen’s Co-Founder and CEO, stated: “This agreement is truly a win for everyone involved—providing a solution and highest end use for organic waste in the Lower Mainland region, creating jobs in the local community, and capturing greenhouse gases to supply low-carbon energy to FortisBC’s customers.”

Based on the company’s analysis, there are numerous sources of waste organics, biogas and landfill gas in Canada and the United States that are generated close to natural gas utility infrastructure and could serve as potential future project opportunities.

Methane biogas, the second leading contributor to climate change, after carbon dioxide, is more than 80 times more damaging to the atmosphere and more powerful than carbon dioxide over a 20-year time frame.

EverGen expects to realize on the societal and local changes in policies, programs and demand for more waste recycling and renewable natural gas production.

For more information, please visit the company’s website www.EverGenInfra.com or email investors@EverGenInfra.com.

I’m Cassandra Bolinski for Investmentpitch Media