EverGen Infrastructure (TSX.V: EVGN) (OTCQB: EVGIF), Canada’s renewable natural gas (“RNG”) infrastructure platform, has inked a deal with Grow the Energy Circle Ltd. (GrowTEC). EverGen signed a letter of intent with GrowTEC, a general partner of CKPPQ Farms LP, to acquire a 67% interest in an Alberta-based biogas facility. The agreement also calls for EverGen to work with GrowTEC to develop and expand the renewable gas output at the facility. The anticipated acquisition is EverGen’s first step into the Alberta market and marks the launch of EVGN’s infrastructure platform expansion. The announcement noted that the acquisition was a “cornerstone project” in a strategic jurisdiction. Located on the Perry Family farm near Lethbridge, Alberta, GrowTEC is a multifaceted bioenergy venture of sustainable agriculture that follows best practices and renewable energy. The LOI calls for EverGen to acquire its interest in the project either directly or through ownership in a newly formed special purpose vehicle corporation; the transaction is anticipated to be completed this spring. “We are thrilled to be partnering with GrowTEC and working with the Perry Family Farm on EverGen’s first project in the Alberta market,” said EverGen CEO Chase Edgelow in the press release. “Alberta is a region with high-quality organic feedstock and represents a strategic market for EverGen as it plans to become a dominant RNG producer in the province. As we expand our RNG infrastructure platform, we are focused on investing in truly sustainable operations that contribute to carbon-negative energy production and positively impact climate change initiatives. GrowTEC is a true green leader, and we are looking forward to building a strong relationship in this agricultural community and having GrowTEC as a long-term equity holder in EverGen. This is another great example of the win-win strategic partnerships that EverGen has been able to strike with existing project owners and developers alike.”
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About EverGen Infrastructure Corp.
EverGen, Canada’s renewable natural gas infrastructure platform, is combating climate change and helping communities contribute to a sustainable future, starting on the West Coast. EverGen is an established independent renewable energy producer that acquires, develops, builds, owns and operates a portfolio of renewable natural gas, waste to energy, and related infrastructure projects. EverGen is focused on Canada, with continued growth expected across other regions in North America and beyond. For more information about EverGen and its products, visit www.EverGenInfra.com.
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