EverGen Infrastructure Corp (TSX-V:EVGN) co-founder and CEO Chase Edgelow said that despite being young, the company is establishing itself “very quickly” as one of the leaders in the renewable natural gas infrastructure space.
In an interview with The Bell2Bell Podcast, which belongs to the Investor Brand Network, Edgelow discussed EverGen’s business model and operating markets.
The Vancouver-based renewable natural gas energy company is a developer, owner and operator of projects that take organic waste and convert that organic waste into renewable energy in the form of renewable natural gas (RNG). The company operates a portfolio of RNG, waste to energy, and related infrastructure projects.
During the fourth quarter of 2021, the British Columbia Utilities Commission (BCUC) approved a 20-year RNG offtake agreement with FortisBC Energy Inc for the company's anaerobic digester expansion project at its NZWA composting and organic processing facility.
“There are a number of Canadian utilities that are hungry for renewable content… In British Columbia, where we’re headquartered, FortisBC is leading the charge with that,” Edgelow told the podcast.
“They offer 20-year contracted offtakes to companies like ours to supply them with green energy, which provides a certainty for our business. Our business is then going out and building facilities that will take organic waste and convert it into RNG,” he added.
Edgelow said that his co-founder, Mischa Zajtmann, and the operating team have done a “tremendous job” compiling assets and “a real strategic pipeline of growth” for EverGen.
“We’re a young company, but we’re establishing ourselves very quickly as one of the leaders in the space – especially in Canada,” continued Edgelow. “We’re solving the problem of organic waste and what municipalities and commercial organizations are doing with it. There’s no better alternative than to use that waste as a source of renewable or sustainable energy. That was a labor of love for all of us.”
Edgelow co-founded EverGen in 2020 and comes from an infrastructure background. He spent just over a decade at Macquarie Group, one of the largest infrastructure asset managers.
“There, I had an emphasis on finding assets that we could acquire or companies we could partner with where there was long-term contracted cash flow. In this environment, that stability of earnings is something that is highly sought-after,” Edgelow added. “[My co-founder and I] really wanted to find an opportunity to replicate some of that success in our own business, so we came up with EverGen. The business model is very similar to some of the large independent power producers in Canada that have portfolios of wind and solar projects. They’re de-risked and some of the largest companies in Canada today, and we’re trying to do the same thing on the gas side.”
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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