EverGen Infrastructure Breaks Ground at the Fraser Valley Biogas RNG Expansion Project and Provides Construction Update

EverGen Infrastructure Corp. (“EverGen” or the “Company”) (TSXV: EVGN) (OTCQX: EVGIF), is pleased to announce that construction has commenced at the company’s Core RNG Expansion Project at Fraser Valley Biogas.

Fraser Valley Biogas

Fraser Valley Biogas (“FVB”), located in Abbotsford, BC, has been in operation since 2011 and is the original producing renewable natural gas (RNG) project in Western Canada to supply FortisBC’s network. The facility combines anaerobic digestion and biogas upgrading to produce RNG, primarily by converting agricultural waste from local dairy farms. Once the FVB Core RNG expansion project is complete, the new RNG production volumes are expected to double the capacity of the facility to produce ~160,000 GJ of RNG per year.

The FVB RNG Expansion Project broke ground during the third quarter of 2022, with the initial construction focused on an additional anaerobic digestor and improvements to the existing feedstock processing system designed to increase production capacity of the facility. We anticipate that the expansion project will be completed in Q1 2023, at which time the facility will ramp-up RNG production to the expanded capacity.

“We are proud of what our team has been able to achieve at FVB to date and pleased to see the project advancing on schedule and on budget,” said Chase Edgelow, CEO of EverGen. “All major mechanical equipment is on track for delivery and costs are within our C$13M-C$15M capital budget. These developments, coupled with the execution of a new long-term offtake agreement in a significantly stronger RNG market, will provide a substantial lift to our revenues and EBITDA.”

RSU Grant

Pursuant to the Company’s Equity Plan, on October 5, 2022, the Company granted 20,000 restricted share units (RSUs) to an officer of the Company.

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 which 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 Infrastructure Corp. and our projects, please visit www.evergeninfra.com.

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The Evergen Infrastructure Stock at the time of publication of the news with a fall of -3,91 % to 2,21CAD on TSX Venture stock exchange (18. Oktober 2022, 21:56 Uhr).