EverGen Infrastructure Inaugurates Fraser Valley RNG Biogas Expansion Project and Provides Construction Update

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VANCOUVER, British Columbia — EverGen Infrastructure Corp. (“EverGen” or the “Company”) (TSXV: EVGN) (OTCQX: EVGIF) is pleased to announce that construction has commenced on the Company’s main RNG expansion project at Fraser Valley Biogas.

Fraser Valley Biogas

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

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The FVB RNG expansion project commenced during the third quarter of 2022, with initial construction focusing on an additional anaerobic digester and upgrades to the existing feedstock processing system designed to increase the facility’s production capacity . We expect the expansion project to be completed in the first quarter of 2023, at which time the facility will ramp up RNG production to the increased capacity.

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

RSU grant

In accordance with the Company’s stock 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 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 our projects, please visit www.evergeninfra.com.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20221019005592/en/

contacts

EverGen Investors
Victoria Rutherford
480-625-5772
[email protected]

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