EverGen Infrastructure Corp. F – GuruFocus.com
LOS ANGELES, June 22, 2022 (GLOBE NEWSWIRE) — via InvestorWire — EverGen Infrastructure Corp. (TSX.V: EVGN) (EVGIF), Canada’s Renewable Natural Gas (“RNG”) infrastructure platform, today announces that it has been featured on a show via NetworkNewsAudio (“NNA”), a solution that provides visibility, recognition and additional brand awareness in the investment community via distribution to thousands of syndication points. The audio press release covers EverGen’s recent announcement that it has entered into definitive agreements with Northeast Renewables LP (“Northeast”) to acquire a 50% interest in a portfolio of RNG development projects.
To listen to the audio production, visit: https://nnw.fm/6lF8S
To read the original press release, visit: https://nnw.fm/PRohG
As detailed in the press release, Project radius, located in southern Ontario, is an advanced-stage portfolio of three high-quality, on-farm RNG projects, collectively capable of producing approximately 1.7 million GJ/yr of RNG that will help reduce farm emissions in southern Ontario. Each of the three projects is expected to produce around 550,000 GJ/year and will be built throughout 2023 and 2024.
“The acquisition of Project Radius provides a foothold in Ontario – a strategic new jurisdiction in which EverGen can continue to participate in the consolidation and growth of the RNG industry in the near term, as well as benefit from the economy. of the project in line with or exceeding those we have seen with our initial projects,” said Chase Edgelow, CEO of EverGen, in the press release. “By working alongside Northeast to advance projects, EverGen will deliver on our platform expansion commitments with the potential to exceed 1,000,000 GJ of RNG production per year. Ontario has a bountiful supply of excess organic feedstock, and as a leader in the RNG industry, EverGen can develop the sustainable infrastructure that contributes to carbon-negative energy production and greening of the province.
Under the terms of the agreements, EverGen has acquired a 50% interest in Project Radius for a cash contribution of $1.5 million, representing 50% of the initial tranche of development funding of $3.0 million. . EverGen’s share of the initial tranche of development funding will be provided from existing working capital and operating cash flow and is expected to advance the projects to the Notice of Proceeding development phase ( “NTP”) within the next six months.
EverGen will work with Northeast on the development of the Radius Project to realize the NTP, at which time EverGen will be entitled to participate in financing its proportionate share of capital to build large-scale anaerobic digesters that convert biodegradable waste into biogas, which is then upgraded to RNG for use in the gas network. Additionally, EverGen has a right of first offer to transition as the exclusive operator of Project Radius at NTP. The Radius project is in advanced negotiations for the supply of raw materials with several aggregators, as well as off-take agreements with large-scale distribution companies.
About EverGen Infrastructure Corp.
EverGen, Canada’s renewable natural gas infrastructure platform, is fighting climate change and helping communities contribute to a sustainable future. Based on the west coast of Canada, EverGen is an established independent renewable power 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 in other regions of North America and beyond.
For more information on EverGen Infrastructure Corp. and his projects, please visit www.evergeninfra.com.
NetworkNewsAudio (“NNA”), one of more than 50 brands within NBI (InvestorBrandNetwork), lets you sit back and listen to market updates, CEO interviews and AudioPressRelease (“APR”) productions. These audio clips provide snapshots of position, opportunity, and momentum. NNA can help by reducing the information overload in today’s market, while providing its customers with unparalleled visibility, recognition and brand awareness. IBN is where news, content and information converge. IBN is a comprehensive provider of news aggregation and syndication, enhanced press release services and a full range of social communications solutions. As a multi-faceted financial news and distribution company with an extensive team of journalists and writers, IBN has the unrivaled ability to reach a wide audience of investors, consumers, journalists and the general public. audience with an ever-expanding distribution network of over 5,000 key syndication points. Across the country.
For more information visit: www.NetworkNewsAudio.com
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain because they are based on current expectations and assumptions regarding future events or the future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating these statements, potential investors should carefully consider the various risks and uncertainties identified in this release and the matters set forth in the company’s filings with the SEC. These risks and uncertainties could cause the company’s actual results to differ materially from those indicated in the forward-looking statements.