- There is an accelerating trend to utilize Renewable Natural Gas (“RNG”), including investments by companies big and small to produce RNG from waste to greatly reduce carbon emissions
- Shell has its first U.S. facility in Oregon and agreements to provide RNG to power busses and garbage trucks in Los Angeles
- EverGen Infrastructure Corp. owns Western Canada’s first producing RNG facility and is making acquisitions to ensure its leadership market position in part through a relationship with FortisBC
- EverGen has made its move eastward through a new RNG agreement in Alberta and expects to continue this path with moves into Ontario and Quebec
There may not be a more topical subject today than that of renewable natural gas (“RNG”), an alternative energy product derived from processing feedstocks such as animal waste, crops and crop residue, and food waste. From possible re-routing of global supply chains to implementation of more environmentally friendly energy sources, the world is talking about RNG. Any discussion about RNG in North America needs to include not just industry giants like Shell (NYSE: SHEL), but also upstarts like Vancouver-based EverGen Infrastructure (TSX.V: EVGN) (OTCQB: EVGIF), as it begins its eastward expansion from its roots in British Columbia.
EverGen is focused on combatting climate change and contributing to a sustainable future as an independent renewable energy producer that acquires, develops, builds, owns, and operates a portfolio of RNG, waste-to-energy, and related infrastructure projects.
RNG is a relatively straightforward process wherein biogas is made from feedstock via anaerobic digestion, with the biogas then processed into RNG that is injected into the existing natural gas grid for consumption. Any liquid and solid byproducts of the RNG production process can be used for fertilizer or any other multitude of applications. RNG uses abound, including applications in heating and cooling, electricity generation, and fuel for all different types of vehicles, amongst other things.
Utilizing RNG solves multiple problems our world faces today, namely reducing carbon emission and responsibly disposing of waste that otherwise would pollute the atmosphere. Companies like EverGen are spearheading mainstream adoption into existing infrastructure with upstream processing solutions.
Compared to fossil fuels, renewable compressed natural gas can slash carbon dioxide emissions by 50% to 100%, according to Shell, which has launched its first RNG facility in Junction City, Oregon. The energy juggernaut is committed to the initiative, inking a contract that will result in 20% of Los Angeles Metro’s CNG (compressed natural gas) busses and all the city’s garbage trucks soon to run on Shell RNG.
Fact is that while electric vehicles may get all the headlines, RNG is quietly gathering plenty of momentum on its own by creating energy from decomposing organic waste from landfills, food, agriculture and even wastewater treatment plants.
EverGen is executing an aggressive growth strategy to capitalize on the RNG trend. The company has made three acquisitions already to cement its position in the market and owns the first producing RNG facility in Western Canada through its Fraser Valley Biogas project (“FVB”). In addition to FVB, EverGen operates two other facilities through its acquired subsidiaries: Net Zero Waste Abbotsford Inc. (“NZWA”) and Sea to Sky Soils and Composting Inc. (“SSS”).
EverGen has an important partner/customer in its corner in FortisBC, an electricity and natural gas utility in B.C. valued at CDN$30+ billion. EverGen’s businesses currently have multi-decade agreements in place to supply FortisBC RNG, which puts the upstart alongside a Shell Energy North America (Canada), which supplies FortisBC RNG from a wastewater operation in Iowa. The supply agreements are part of FortisBC’s Clean Growth Pathway to 2050 and aligned with provincial goals to achieve net-zero emissions by 2050.
Last month, EverGen made its initial foray into Alberta, signing a letter of intent to acquire a controlling interest (67%) in a biogas facility for CDN$6.6 million in cash and stock. Phase 1 of the project is expected to produce 80,000 gigajoules of RNG annually beginning next quarter with expansion planned to 140,000 gigajoules. A familiar face, FortisBC, is there again agreeing to purchase the RNG for its customers.
FortisBC says it is on track to meet or exceed its RNG targets by 2030, which will equate to supplying at least 333,000 homes with carbon-neutral energy, a milestone made possible in part by EverGen, a little company that has its sights set on big things.
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://nnw.fm/EVGIF
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