- EverGen renews offtake agreement at Fraser Valley Biogas that covers up to 190,000 gigajoules of RNG annually at more favorable pricing compared to original agreement
- Offtake marks key milestone that enables full funding of company’s Core RNG Expansion project at FVB and another step towards its target of 1,000,000 GJ of RNG per year
- Company partnered with Adelaide, investor relation firm with developed network of investors across North America and globally, to raise its visibility before expanded pool of investors as it prepares to embark on rapid expansion chapter in its growth trajectory
EverGen Infrastructure (TSX.V: EVGN) (OTCQX: EVGIF) has announced that its wholly owned subsidiary Fraser Valley Biogas Ltd. has signed a term sheet for a long-term RNG offtake agreement intended to replace the existing agreement as it approaches the end of the term (https://ibn.fm/rw136). As a legal contract in which a buyer agrees to purchase a certain amount of the product at set price points, offtakes are an essential tool for producers to secure a predictable revenue stream for the project and improve access to funding. The term sheet for the new deal, expected to cover the purchase of up to 190,000 gigajoules of RNG annually from FVB, is penned amid considerably stronger market pricing compared to when the facility initially started. This milestone supports full funding of EverGen’s Core RNG expansion project at FVB and marks an important step towards the company’s goal of 1,000,000 GJ of RNG per year from its core RNG expansion and development project portfolio.
EverGen acquired Fraser Valley Biogas in 2021 and is currently working to enhance and expand the facility. Located in Abbotsford, BC, Fraser Valley Biogas, has been digesting manure and off-farm organics since 2011, combining anaerobic digestion and biogas upgrading to produce RNG, mainly by…
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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