EverGen Infrastructure Corp (TSX-V:EVGN) announced that it has been awarded $10.5 million from Natural Resources Canada’s (NRCan's) Clean Fuels Fund which will be used to expand its renewable natural gas (RNG) facility at Pacific Coast Renewables to produce approximately 185,000 gigajoules.
The Clean Fuels Fund, developed by the Government of Canada’s NRCan department, aims to support the growth of the domestic clean fuels industry and reduce Canada’s greenhouse gas emissions, EverGen noted in a statement.
The company said the funding announcement underscored EverGen’s pivotal role in driving sustainable energy solutions and commitment to a greener future.
The expansion of its Pacific Coast Renewables facility is now fully funded, unlocking further earnings growth, the company noted.
It said the capital expansion at the facility will add anaerobic digestion capabilities to produce biogas. The biogas in turn will be upgraded to RNG to feed into FortisBC’s gas network under an existing 20-year off-take agreement.
In addition to RNG, the facility will also produce liquid digestate fertilizer and solid organic fertilizer, which is produced through the anaerobic digestion process.
"We are honored to be recognized and awarded funding by NRCan’s Clean Fuels Fund. As a leader in Canada’s domestic clean fuels industry, the confidence and support from the federal government is an important endorsement,” said EverGen CEO Chase Edgelow in a statement.
“We are a Canadian-based platform focused on building, owning, and operating RNG infrastructure, and are actively consolidating Canada's fragmented RNG industry to create a more sustainable future for all Canadians."
Headquartered in Western Canada, EverGen is an established independent renewable energy producer which acquires, develops, builds, owns, and operates a portfolio of renewable natural gas, waste-to-energy, and related infrastructure projects.
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