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EverGen says construction on Phase 1 of GrowTEC RNG Expansion project is 80% complete

Published: 10:49 04 Oct 2022 EDT

EverGen Infrastructure Corp - says construction on Phase 1 of GrowTEC RNG Expansion project is 80% complete
Once complete, Phase 1 is expected to produce 80,000 gigajoules of RNG annually, which is underpinned by a long-term offtake agreement with FortisBC, according to the company

EverGen Infrastructure Corp (TSX-V:EVGN) revealed that construction on the first phase of its GrowTEC RNG Expansion project is 80% complete and is “tracking ahead of schedule.”

Headquartered on the west coast of Canada, EverGen is an established independent renewable energy producer and GrowTEC is its operating biogas facility focused on sustainable agriculture through the conversion of organic waste to soil amendments and clean energy.

Since acquiring a 67% interest and assuming operatorship of the project earlier this year, EverGen has been successful in implementing the project designed to upgrade existing biogas and power production to renewable natural gas (RNG).

READ: EverGen Infrastructure says subsidiary signs new term sheet for long-term offtake agreement

The company said the project is finalizing construction of the injection infrastructure for tie-in into the local pipeline network and is anticipated to be ready to commission in the next month.

Once complete, Phase 1 is expected to produce 80,000 gigajoules of RNG annually, which is underpinned by a long-term offtake agreement with FortisBC, according to the company.

On the other hand, the Phase 2 expansion is expected to add an additional 60,000 gigajoules of RNG annually for a total of 140,000 gigajoules of RNG production annually from the project, added the firm.

"We are thrilled with the pace at which our team has delivered this project," EverGen CEO Chase Edgelow said in a statement. "Phase 1 is tracking ahead of schedule and once commissioned, the project will further contribute to and strengthen our positive cash flow position."

EverGen is an independent renewable energy producer which acquires, develops, builds, owns, and operates a portfolio of renewable natural gas, waste-to-energy, and related infrastructure projects.

Contact the author Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive

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on 08/10/2022