British Columbia RNG firm EverGen does not expect material impact from flooding

British Columbia-based renewable natural gas (RNG) infrastructure platform EverGen Infrastructure Corp (CVE:EVGN) currently does not expect a material impact to its business from the devastating flooding that hit the Canadian province, it said on Wednesday.

The company’s Fraser Valley Biogas and Net Zero Waste Abbotsford facilities are in regions affected by the flooding. Fraser Valley Biogas has been temporarily shut down as the areas around it have been subject to an evacuation order, while Net Zero Waste Abbotsford remains in operation.

EverGen said it will continue to monitor the situation.

Set up in 2020, the company completed a CAD-20-million (USD 15.9m/EUR 14.1m) initial public offering (IPO) in August. It aims to create a portfolio consisting of RNG, waste-to-energy and related infrastructure projects with an initial focus on British Columbia.

Heavy rains struck regions of Canada that were affected by extreme temperatures and wildfires several months ago. In a news conference on Wednesday, British Columbia premier John Horgan said these events are increasing in regularity because of human caused climate change and added that there is hope in terms of work done by British Columbia and Canada “to bring the other seven billion souls on this planet to the position where we can understand that we need to act now to make the changes in our community and our economy that will protect us from these types of events in the future.”

(CAD 1 = USD 0.797/EUR 0.704)

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