EverGen (TSX.V: EVGN) (OTCQX: EVGIF), Canada’s renewable natural gas (“RNG”) infrastructure platform, is reporting its third-quarter financial results and corporate milestones. Highlights of the report include mechanical completion at EverGen’s Fraser Valley Biogas RNG expansion project, with the first RNG on track for December 2023; an agreement with Irving Oil for up to 60,000 GJ of RNG annually produced from the GrowTEC RNG facility; the signing of a 10-year organic waste-processing agreement with the city of Regina; and a $7 million senior term loan agreement with BDC. In addition, the company reported a 17% increase in revenues for the quarter, which came in at C$2.3 million, up from C$2 million in Q3 2022; net loss of C$1.1 million for quarter, down 40% from C$1.8 million the same quarter in 2022; and Adjusted EBITDA of C$0.4 million for Q3 2023, a slight decrease from Q3 2022. “This quarter marks the commencement of a significant ramp up in revenue across our platform,” said EverGen Infrastructure CEO Mischa Zajtmann in the press release. “With mechanical completion at Fraser Valley Biogas and the addition of another material organics processing facility in Regina, the foundation has been set for future revenue growth as we continue to execute on core project delivery.”
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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 that 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 and its products, visit www.EverGenInfra.com.
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