EverGen Infrastructure Corp. Sells Fraser Valley Bio Gas Project Land
Vancouver, British Columbia – In a recent business development, EverGen Infrastructure Corp. (EverGen) announced that one of its subsidiaries, Fraser Valley Biogas Ltd., has entered into an agreement to sell the land where the Fraser Valley Bio Gas Project operates. The land sale was made to 2065947 Alberta Ltd. and James Betts, collectively referred to as the “Purchasers,” for a total purchase price of $2,620,000.00.
Details of the Land Sale
According to the press release, the Agreement outlines the terms of the sale, which includes the transfer of the Property’s title and all associated assets to the Purchasers. The Property, located in British Columbia, hosts the Fraser Valley Bio Gas Project, which is a renewable natural gas (RNG) facility that produces biomethane from agricultural waste.
Impact on EverGen
The sale of the land is a significant event for EverGen as it marks the company’s strategic decision to focus on its core business – the development, ownership, and operation of renewable energy projects. By divesting non-core assets, EverGen aims to streamline its operations and allocate resources more effectively towards expanding its RNG portfolio.
- The sale will bring EverGen a cash infusion of $2,620,000.
- EverGen will no longer be responsible for the operational and maintenance costs of the Fraser Valley Bio Gas Project.
- The company can now dedicate more resources to its ongoing projects and the development of new opportunities in the renewable energy sector.
Impact on the World
The sale of the Fraser Valley Bio Gas Project land has broader implications for the renewable energy sector and the environment. RNG, which is produced from biomethane, is a low-carbon alternative to traditional fossil fuels. By selling the land, EverGen is no longer directly involved in the production of RNG from agricultural waste.
- The sale may potentially lead to new investments and innovations in the RNG sector as the new owners explore ways to optimize the facility.
- The continued operation of the Fraser Valley Bio Gas Project contributes to reducing greenhouse gas emissions and promoting a more sustainable energy mix.
- This transaction sets a precedent for other companies in the renewable energy sector to consider divesting non-core assets and focusing on their core competencies.
Conclusion
EverGen Infrastructure Corp.’s decision to sell the land where the Fraser Valley Bio Gas Project operates is a strategic move that will allow the company to focus on its core business and allocate resources more effectively. The sale also has broader implications for the renewable energy sector and the environment, as it may lead to new investments and innovations in the RNG sector and contribute to reducing greenhouse gas emissions.
As we continue to navigate the ever-evolving landscape of renewable energy, it’s essential to stay informed about the latest developments and their potential impact on our world. With the sale of the Fraser Valley Bio Gas Project land, EverGen is taking a step forward in its mission to create a more sustainable energy future. Stay tuned for more updates on this exciting sector!
