EverGen Narrows Quarterly Losses YoY

Renewable natural gas (RNG) producer EverGen Infrastructure Corp on Wednesday reported a net loss of CAD 386,000 (around $278,000) for the second quarter (Q2), an improvement from -CAD 1.95 million for the same three-month period last year.

The improvement was driven by an increase in production to a record 54,675 gigajoules in April-June 2026 from 49,297 gigajoules in Q2 2025 as stabilization continues at EverGen’s FVB plant in Abbotsford, British Columbia and GrowTEC RNG plant in Lethbridge County, Alberta.

Vancouver-based EverGen also reported higher incoming organic feedstock at 23,151 metric tons, compared to 17,220 metric tons in Q2 2025.

"Q2 provides further evidence that the operational improvements made across EverGen are translating into continued performance enhancement, including our strongest second-quarter RNG production to date and higher feedstock volumes across the platform", chief executive Chase Edgelow said in an online statement.

Revenue rose to CAD 4.76 million for Q2 2026 from CAD 2.78 million for Q2 2025 "primarily due to higher tipping revenues from increased volumes received at the organic waste and composting facilities, increased RNG production at FVB and GrowTEC and the settlement of carbon credit sales during the quarter", EverGen said.

Earnings before interest, taxes, depreciation and amortization (EBITDA) bounced back from a negative CAD 822,000 for Q2 2025 to CAD 1.35 million for Q2 2026. EBITDA adjusted for nonrecurring items stood at CAD 1.75 million, compared to CAD 339,000 for Q2 2025.

EverGen had CAD 3.7 million in cash, cash equivalents and restricted cash at the end of Q2 2026. It reported a working capital surplus of CAD 2.97 million.

In Q1 2026 it closed a new CAD 13-million asset-level credit facility and operating line of credit with Farm Credit Canada, as well as paid down CAD 12 million in corporate-level debt.

Also in Q1 EverGen raised around CAD 1.9 million through the second tranche of a non-brokered private placement.

At the end of Q2 assets totaled CAD 75.11 million while long-term liabilities stood at CAD 24.83 million.

"With FVB and GrowTEC performing consistently and PCR advancing toward FID on the RNG expansion project, we are building on a stronger operating foundation and increasingly focused on growth", Edgelow said. "Our priority is to advance our existing growth projects while selectively evaluating opportunities to expand the platform in a disciplined and accretive manner".

The PCR project is designed to enable biogas production at the Pacific Coast Renewables net-zero waste compost facility in Abbotsford, in operation since 2013.

EverGen said in its Q1 report the PCR project had received regulatory approval to build an anaerobic digester.

Separately on Wednesday EverGen announced the appointment of four directors for the coming year: Blake Almond, Varun Anand, Chase Edgelow and Mischa Zajtmann.

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