EverGen Infrastructure Announces New 20-Year Offtake Agreement with FortisBC Energy Inc. Now in Effect

Executive Summary

• EverGen’s subsidiary Fraser Valley Biogas Ltd. has entered into a new 20‑year Biomethane Purchase Agreement (BPA) with FortisBC Energy Inc., securing a long‑term contracted revenue stream for its Renewable Natural Gas (RNG) production.
• The BPA reinforces EverGen’s position as an early RNG supplier in British Columbia and supports FortisBC’s goal of increasing renewable gas content in its network, contributing to lower carbon emissions.
• The agreement is expected to provide stable cash flow and underpin future growth initiatives, including debt refinancing and a second tranche of a private placement referenced in the forward‑looking statements.

Key Details

• Parties: FortisBC Energy Inc. (buyer) and Fraser Valley Biogas Ltd., a wholly owned subsidiary of EverGen Infrastructure Corp. (seller).
• Term: 20 years, commencing upon effectiveness of the agreement.
• Product: Renewable Natural Gas (RNG) produced at the Fraser Valley Biogas facility, to be injected into FortisBC’s natural gas system.
• Revenue Impact: Provides EverGen with a long‑term, contracted revenue stream from one of BC’s earliest RNG supply relationships.
• Strategic Benefits: Enhances FortisBC’s renewable and lower‑carbon gas supply; supports EverGen’s business model of acquiring, developing, building, owning, and operating RNG infrastructure.
• Operational Context: The FVB facility combines anaerobic digestion and biogas upgrading, processing agricultural waste from local dairy farms and producing an organic liquid fertilizer for nearby farms.
• Quotes:
• “This agreement reflects the strength of our long‑standing relationship with FortisBC and reinforces the stability and durability of our RNG platform.” – Chase Edgelow, Co‑founder & CEO, EverGen.
• “Our agreement with EverGen strengthens a long‑standing partnership… supports the continued growth of a lower carbon, more resilient energy system while meeting BC climate action goals.” – Nick Bloomfield, Director of Renewable Gas and Low Carbon Fuels, FortisBC.

Notable Quotes

• Chase Edgelow (CEO): “This agreement reflects the strength of our long‑standing relationship with FortisBC and reinforces the stability and durability of our RNG platform.”
• Nick Bloomfield (FortisBC): “This 20‑year Biomethane Purchase Agreement reinforces our commitment to securing a stable supply of locally produced RNG and supports the continued growth of a lower carbon, more resilient energy system while meeting BC climate action goals.”