- EverGen Infrastructure CEO, Chase Edgelow, was recently featured on IBN’s Bell2Bell podcast
- Edgelow elucidated on the origins of the company as well as its commercial objectives going forward
- EverGen recently purchased a 50% stake in an Ontario-based RNG project, with a cumulative production capacity of 1.7 million GJ per year
Chase Edgelow, Co-Founder and CEO of EverGen Infrastructure (TSX.V: EVGN) (OTCQB: EVGIF), a British-Columbia based Natural Gas operator, was recently featured on the latest episode of the InvestorBrandNetwork’s Bell2Bell Podcast, with Edgelow seizing on the opportunity to expand on EverGen’s business model and operating markets (https://ibn.fm/s1tdx). Edgelow separately elaborated on EverGen’s recent announcement of its entry into definitive agreements with Northeast Renewables LP to acquire a 50 percent interest in a portfolio of Ontario-based renewable natural gas (“RNG”) development projects.
Drawing from his background working at one of the world’s largest infrastructure asset managers, Edgelow initially expounded on the commercial philosophy underpinning his decision to co-found EverGen in 2020.
“[In my previous role] I had an emphasis on finding assets that we could acquire or companies we could partner with where there was long-term contracted cash flow. In this environment, that stability of earnings is something that is highly sought-after,” Edgelow added. “[My co-founder and I] really wanted to find an opportunity to replicate some of that success in our own business, so we came up with EverGen”.
Whilst setting out to create a stable, cash-generative business, Edgelow and co-founder, Mischa Zajtmann were simultaneously able to mold EverGen into a significant player within Canada’s renewable energy sector – helping drive the nation’s power grid’s transition towards a more sustainable, and carbon-free future.
“We are a renewable natural gas energy company. We’re a developer, owner and operator of projects that take organic waste and convert that organic waste into renewable energy in the form of renewable natural gas (‘RNG’),” Edgelow said. “[Canadian utilities, like FortisBC] offer 20-year contracted offtakes to companies like ours to supply them with green energy, which provides a certainty for our business. Our business is then going out and building facilities that will take organic waste and convert it into RNG.”
EverGen has sought to cater to the growing demand for renewable natural gas over the past two years, aggressively developing and expanding upon its supply capabilities. In addition to the company’s ownership of Fraser Valley Biogas, Western Canada’s first RNG facility which has been in continuous operation since 2011, EverGen also manages two composting and organic processing facilities, which will be expanded to combine anaerobic digesting and biogas upgrading technologies to produce RNG from the manure generated by local dairy farms as well as other organic waste.
More recently, EverGen Infrastructure revealed that the company had purchased a 50% stake in a portfolio of renewable natural gas development projects in Ontario, Canada from Northeast Renewables (https://ibn.fm/afivq). The deal, which saw EverGen pay a gross cash consideration of $1.5 million, has a targeted cumulative production capacity of approximately 1.7 million gigajoules (“GJ”) per year, with projects set to come online between 2023 and 2024. Ultimately, EverGen expects the Ontario-based project to more than triple its RNG capacity to upwards of 1 million GJ per year.
“The acquisition of Project Radius provides a foothold in Ontario – a new and strategic 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 project economics in line with or exceeding those we have seen with our initial projects,” Edgelow stated in relation to the stake purchase. “Ontario has an abundant amount 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 the greening of the province.”
For more information, visit the company’s website at www.EvergenInfra.com.
NOTE TO INVESTORS: The latest news and updates relating to EVGIF are available in the company’s newsroom at https://ibn.fm/EVGIF
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