EverGen Infrastructure (TSXV: EVGN) (OTCQX: EVGIF) has provided operational updates for its facilities. At Pacific Coast Renewables (PCR), the company secured increased tipping fees to offset higher operating costs resulting from enhanced regulatory standards and a December 2024 fire. Record rainfall in Greater Vancouver impacted processing capabilities. The PCR RNG expansion project received endorsement from Abbotsford’s Agricultural Advisory Committee, with final Agricultural Land Commission review expected in H2 2025.
At Prairie Sky Organics, EverGen and the City of Regina agreed to terminate their organic waste processing agreement effective January 31, 2025. Additionally, the company formed a Special Committee to evaluate multiple inbound interests regarding potential strategic transactions, though no specific decisions have been made.
EverGen Infrastructure (TSXV: EVGN) (OTCQX: EVGIF) ha fornito aggiornamenti operativi per le sue strutture. Presso Pacific Coast Renewables (PCR), l’azienda ha ottenuto un aumento delle tariffe di conferimento per compensare i costi operativi più elevati derivanti da standard normativi migliorati e da un incendio avvenuto a dicembre 2024. Le piogge record nella Grande Vancouver hanno influito sulle capacità di lavorazione. Il progetto di espansione del RNG di PCR ha ricevuto il supporto del Comitato Consultivo Agricolo di Abbotsford, con la revisione finale della Commissione Agricoltura prevista per il secondo semestre del 2025.
Presso Prairie Sky Organics, EverGen e la Città di Regina hanno concordato di terminare il loro accordo per il trattamento dei rifiuti organici con effetto dal 31 gennaio 2025. Inoltre, l’azienda ha costituito un Comitato Speciale per valutare vari interessi in entrata riguardo a potenziali transazioni strategiche, sebbene non siano state prese decisioni specifiche.
EverGen Infrastructure (TSXV: EVGN) (OTCQX: EVGIF) ha proporcionado actualizaciones operativas para sus instalaciones. En Pacific Coast Renewables (PCR), la empresa aseguró tarifas de vertido aumentadas para compensar los mayores costos operativos resultantes de estándares regulatorios mejorados y un incendio en diciembre de 2024. Las lluvias récord en la Gran Vancouver afectaron las capacidades de procesamiento. El proyecto de expansión de RNG de PCR recibió el respaldo del Comité Asesor Agrícola de Abbotsford, con la revisión final de la Comisión Agrícola esperada para el segundo semestre de 2025.
En Prairie Sky Organics, EverGen y la Ciudad de Regina acordaron terminar su acuerdo de procesamiento de residuos orgánicos con efecto a partir del 31 de enero de 2025. Además, la empresa formó un Comité Especial para evaluar múltiples intereses entrantes sobre posibles transacciones estratégicas, aunque no se han tomado decisiones específicas.
EverGen Infrastructure (TSXV: EVGN) (OTCQX: EVGIF)는 자사의 시설에 대한 운영 업데이트를 제공했습니다. Pacific Coast Renewables (PCR)에서는 회사가 향상된 규제 기준과 2024년 12월에 발생한 화재로 인한 높은 운영 비용을 상쇄하기 위해 증가된 수수료를 확보했습니다. 그레이터 밴쿠버의 기록적인 강우가 처리 능력에 영향을 미쳤습니다. PCR의 RNG 확장 프로젝트는 애보츠포드의 농업 자문 위원회의 지지를 받았으며, 최종 농업 토지 위원회의 검토는 2025년 하반기에 예상됩니다.
Prairie Sky Organics에서는 EverGen과 레지나 시가 2025년 1월 31일부로 유기 폐기물 처리 계약을 종료하기로 합의했습니다. 또한, 회사는 잠재적인 전략적 거래에 대한 여러 가지 유입 관심을 평가하기 위해 특별 위원회를 구성했지만, 구체적인 결정은 내려지지 않았습니다.
EverGen Infrastructure (TSXV: EVGN) (OTCQX: EVGIF) a fourni des mises à jour opérationnelles pour ses installations. À Pacific Coast Renewables (PCR), l’entreprise a sécurisé des frais de déversement accrus pour compenser les coûts d’exploitation plus élevés résultant de normes réglementaires renforcées et d’un incendie en décembre 2024. Des pluies record dans la Grande Vancouver ont eu un impact sur les capacités de traitement. Le projet d’expansion du RNG de PCR a reçu le soutien du Comité Consultatif Agricole d’Abbotsford, avec une révision finale de la Commission Agricole attendue pour le second semestre 2025.
À Prairie Sky Organics, EverGen et la Ville de Regina ont convenu de mettre fin à leur accord de traitement des déchets organiques à compter du 31 janvier 2025. De plus, l’entreprise a formé un Comité Spécial pour évaluer plusieurs intérêts entrants concernant des transactions stratégiques potentielles, bien qu’aucune décision spécifique n’ait encore été prise.
EverGen Infrastructure (TSXV: EVGN) (OTCQX: EVGIF) hat betriebliche Updates für seine Anlagen bereitgestellt. Bei Pacific Coast Renewables (PCR) sicherte sich das Unternehmen erhöhte Annahmegebühren, um höhere Betriebskosten aufgrund verbesserter regulatorischer Standards und eines Brandes im Dezember 2024 auszugleichen. Rekordniederschläge in Greater Vancouver beeinflussten die Verarbeitungskapazitäten. Das PCR RNG-Erweiterungsprojekt erhielt die Unterstützung des Landwirtschaftlichen Beratungsausschusses von Abbotsford, wobei die endgültige Überprüfung durch die Landwirtschaftskommission für das zweite Halbjahr 2025 erwartet wird.
Bei Prairie Sky Organics einigten sich EverGen und die Stadt Regina darauf, ihre Vereinbarung zur Verarbeitung organischer Abfälle zum 31. Januar 2025 zu beenden. Darüber hinaus hat das Unternehmen einen Sonderausschuss eingerichtet, um mehrere eingehende Interessen bezüglich potenzieller strategischer Transaktionen zu bewerten, obwohl noch keine spezifischen Entscheidungen getroffen wurden.
Positive
- Secured increased tipping fees at PCR facility to offset higher costs
- Received key endorsement for RNG expansion project from Agricultural Advisory Committee
- Multiple parties showing interest in potential strategic transactions
Negative
- Fire incident at PCR facility in December 2024 increased disposal costs
- Record rainfall limiting material processing capabilities at PCR
- Termination of City of Regina waste processing agreement
EverGen Infrastructure Corp. (“EverGen” or the “Company”) (TSXV: EVGN) (OTCQX: EVGIF), announces operational updates at its Pacific Coast Renewables (“PCR”), and Prairie Sky Organics facilities.
Pacific Coast Renewables
Since acquiring the facility in 2021, EverGen has invested in a series of environmental performance improvements to meet the highest regulatory standards and prepare for the facility’s expansion. As part of these efforts, EverGen has sought recognition from its municipal partners in the form of increased tipping fees now secured for the facility.
This increased revenue is anticipated to offset higher operating costs at the site, largely driven by increased regulatory standards and disposal costs from a fire at the facility in early December 2024.
Additionally, EverGen has secured a permitting milestone for the PCR RNG expansion project. The City of Abbotsford Agricultural Advisory Committee (“AAC”) has endorsed the RNG expansion project and recommended it for approval. Upon receiving the City of Abbotsford Council approval, the final regulatory step is securing authorization from the Agricultural Land Commission, which is expected to be reviewed in the second half of 2025.
“We would like to thank the
Prairie Sky Organics
After executing a temporary agreement in late 2023 during the search for a permanent operating site, EverGen and the City of Regina mutually agreed to terminate the organic waste processing service agreement, effective January 31, 2025.
“We have valued our collaboration with the City of Regina and the opportunity to support its organic waste management goals,” said Mischa Zajtmann. “As we continue to focus on key projects that maximize our impact and expansion objectives, this step allows us to allocate resources where they can best support our long-term goals.”
Formation of Special Committee
EverGen has received inbound interest from multiple parties with respect to potential strategic transactions (a “Potential Strategic Transaction”). In response the board of directors of the Company has struck an independent special committee (the “Special Committee”) to evaluate and review these opportunities with the goal of maximizing value for EverGen shareholders and other stakeholders of the Company. The Special Committee will make recommendations to the Company’s board of directors in respect of all such matters.
No decisions relating to any specific Potential Strategic Transaction has been made as at the date of this news release and there are no assurances that any Potential Strategic Transaction, or transactions, will result from the formation of the Special Committee and the strategic review process, generally. The Company does not intend to comment further with respect to the strategic review process unless and until it determines that additional disclosure is appropriate in the circumstances and in accordance with applicable securities laws.
About EverGen Infrastructure Corp.
EverGen, Canada’s Renewable Natural Gas Infrastructure Platform, is combating climate change and helping communities contribute to a sustainable future. Headquartered on the West Coast of
For more information about EverGen Infrastructure Corp. and our projects, please visit www.evergeninfra.com.
Cautionary Statements Regarding Forward Looking Information
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes”, and or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the receipt of increased tipping fees; the ability of the Company to offset higher operating costs and use of potential increased revenues; approval of the PCR RNG expansion project by the City of Abbotsford Council; the ability to secure authorization for the PCR RNG expansion project by the Agricultural Land Commission and the anticipated timing thereof; and the potential strategic opportunities available to the Company and the ability of the Company to consummate any such opportunities. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, regulatory, competitive, political and social uncertainties; the delay or failure to receive required approvals (including shareholder, board, third party and regulatory approvals); uncertainties relating to the strategic review to be conducted by the Special Committee and the terms of any definitive agreements that may be entered into in connection with a Potential Strategic Transaction; and the viability of any Potential Strategic Transaction. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, EverGen assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Not for distribution to
View source version on businesswire.com: https://www.businesswire.com/news/home/20250228438601/en/
EverGen Infrastructure Corp.
Co-founder & CEO
Mischa Zajtmann
604-202-7004
mischa@evergeninfra.com
Source: EverGen Infrastructure Corp.
FAQ
What caused the increased operating costs at EverGen’s Pacific Coast Renewables facility?
Operating costs increased due to stricter regulatory standards and disposal costs from a December 2024 fire, which EverGen offset by securing higher tipping fees.
When will EVGIF’s PCR RNG expansion project receive final regulatory approval?
Final approval from the Agricultural Land Commission is expected in the second half of 2025.
Why did EverGen terminate its agreement with the City of Regina?
EverGen and the City of Regina mutually agreed to end their temporary organic waste processing agreement to allow EverGen to focus on key projects aligning with their expansion objectives.
What is the purpose of EverGen’s newly formed Special Committee?
The Special Committee will evaluate multiple inbound interests regarding potential strategic transactions to maximize value for shareholders.