EverGen Infrastructure Corp. (“EverGen” or the “Company”) (TSXV: EVGN) (OTCQX: EVGIF) has announced the signing of a 20-year offtake agreement with FortisBC Energy Inc (“FortisBC”) through its subsidiary Fraser Valley Biogas Ltd. (“FVB”). This agreement is subject to approval by the British Columbia Utilities Commission.
Under this agreement, FortisBC will purchase Renewable Natural Gas (“RNG”) from FVB to inject into its natural gas system. The deal ensures a stable and predictable RNG supply for FortisBC, providing EverGen with a reliable customer and long-term revenue stream.
CEO Mischa Zajtmann commented, “Executing this agreement strengthens EverGen’s longstanding partnership with FortisBC. We appreciate FortisBC’s ongoing support as a valued stakeholder of the EverGen platform.”
David Bennett, Director of Renewable Gas and Low Carbon Fuels at FortisBC, added, “We are pleased to continue our collaboration with EverGen and Fraser Valley Biogas, one of our earliest RNG suppliers. Increasing our RNG supply helps us reduce greenhouse gas emissions and supports our goal of making around 75% of our gas renewable and low-carbon by 2050.”
In addition to the offtake agreement, EverGen has secured a long-term feedstock supply agreement with a waste disposal consolidator in the region. This agreement covers over 50% of the off-farm waste needed to achieve nameplate capacity at the FVB project.
“Securing this long-term supply of energy-rich waste, along with our existing feedstock agreements, ensures stability for the FVB project,” Zajtmann noted. “With both offtake and feedstock agreements in place on a long-term basis, EverGen has significantly reduced the project’s risk profile.”
