EverGen Infrastructure Reports Q3 2025 Results
Executive Summary
- EverGen reported Q3 2025 results, achieving a record quarterly RNG production of ~18,000 GJ and turning EBITDA positive for the quarter.
- The company advanced its PCR RNG Expansion project with regulatory support from Abbotsford City Council and is progressing on a $13 M asset‑level debt facility plus up to $2 M private placement slated to close in Q4 2025.
- Despite lower revenues, cash balances rose sharply to C$2.9 M and total long‑term liabilities fell by C$3.3 M, improving the balance sheet ahead of 2026 growth plans.
Key Details
- RNG Production:
- July 2025 – 16,000 GJ; August 2025 – 17,000 GJ; September 2025 – 18,000 GJ (record month: >13,000 GJ in Sept).
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Q3 total RNG output: 51,770 GJ vs. 40,674 GJ YoY (+27%).
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Financial Highlights (C$ thousands):
- Revenue: 2,810 (‑22% YoY).
- Net loss: (1,106) (‑134% YoY).
- EBITDA: 205 (turns positive; ‑83% YoY from a loss of (1,023)).
- Adjusted EBITDA: 471 (‑52% YoY).
- Cash & cash equivalents: 2,911 (↑263%).
- Total assets: 76,537 (‑16% YoY).
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Long‑term liabilities: 24,750 (‑12% YoY).
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Operating Metrics:
- Incoming organic feedstock: 15,310 t (‑40% YoY).
- Organic compost & soil sales: 11,172 yd³ (+14%).
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Electricity generation: 975 MWh (‑8%).
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Refinancing Update:
- Asset‑level debt facility for FVB plant: $13 M targeted to close Q4 2025.
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Additional private placement up to $2 M, funds already committed, also expected to close Q4 2025.
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Regulatory Milestone:
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PCR RNG Expansion project received formal support from Abbotsford City Council in July 2025.
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Management Commentary (CEO Chase Edgelow): Emphasized transition after May 2025 equity transaction, record RNG output, balance‑sheet strengthening, and positioning for scalable growth in 2026+.
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Conference Call:
- Date: Friday, 21 Nov 2025, 11:00 a.m. ET (Zoom link provided).
Notable Quotes
“Q3 2025 was a pivotal quarter of transition… we delivered record RNG production, advanced our PCR expansion project, and strengthened our balance sheet.” – Chase Edgelow, CEO
Materiality Assessment: Material – Positive (quarterly results, EBITDA turnaround, significant operational milestones, and financing updates that are likely to influence investor decisions).