EverGen raises $17M for sustainable RNG Canadian infrastructure projects
EverGen has finished raising an additional $17 million to address a large gap in renewable infrastructure across Canada. Canada’s renewable natural gas (RNG) infrastructure platform said the funding is specifically focused on acquiring and building RNG and sustainable waste to energy projects.
EverGen has raised $8 million in equity capital (via a special warrants offering) and secured a senior debt facility of $9 million to pursue this strategy. This follows EverGen’s previous financing and major project acquisitions of Sea to Sky Soils in Pemberton, B.C. and Net Zero Waste Abbotsford Inc. that were completed in December 2020.
“There is a dire need for a Canadian-based platform focused on building, owning and operating renewable natural gas infrastructure to support the clean energy goals and demand of FortisBC and other utilities across Canada,” explains EverGen co-founder and CEO Chase Edgelow. “Starting in B.C,. but with plans for further expansion, EverGen has the leadership and capability to ‘infra-tize’ Canada’s fragmented renewable natural gas industry, meaning we apply a disciplined and practical approach to developing the necessary infrastructure to ensure long term sustainable returns for our investors, our communities and our stakeholders.”
About EverGen’s Projects
Sea to Sky Soils, located near Pemberton, is a composting and organic processing facility with existing municipal and commercial partnerships throughout the Sea to Sky corridor and Lower Mainland. The facility accepts organic waste (diverted from the landfill via green bin programs) and recycles it using proven composting technology into soil amendments and Class A compost for use by local farms and developers as part of the circular economy. Sea to Sky Soils is in partnership with the Lil’wat Nation and committed to the Lil’wat community, having operated on Lil’wat Nation land since 2012. In addition, Sea to Sky Soils has employed a majority of staff from the First Nation since inception and supports social, cultural and recreation programs in Mount Currie.
Net Zero Waste Abbotsford Facility
Net Zero Waste Abbotsford, is a composting and organic processing facility located in Abbotsford, with existing municipal and commercial partnerships throughout the Lower Mainland. The facility accepts municipal organic/green bin waste (diverted from the landfill via green bin programs) and recycles it using proven composting technology into soil amendments and Class A compost for use by local farms and developers as part of the circular economy.
Sustainable RNG Infrastructure Projects
EverGen’s projects involve the construction of infrastructure to capture and clean biogas (which may come from a variety of feedstock sources including organic waste, agricultural waste and wastewater) using proven technology to create sustainable or renewable natural gas as a clean energy source for our future.
For more information about EverGen Infrastructure Corp., visit www.evergeninfra.com.