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EverGen Infrastructure Corp. (TSX.V: EVGN) (OTCQX: EVGIF) Cements Position as Market Leader
The market for renewable energy enjoys considerable tailwinds due to growing concerns about climate change, energy security and global initiatives to reign in carbon emissions. The tailwinds turned into a tempest late in 2022 when the Inflation Reduction Act (“IRA”) was signed into law. The IRA is the largest investment ever by the U.S. government in renewable energies, earmarking $369 billion to accelerate efforts to reduce dependence on fossil fuels. According to some experts, the IRA is expected to more than triple America’s clean-energy production by 2030, resulting in about 40% of the nation’s energy coming from sources such as wind, solar and renewable natural gas (“RNG”). For this to happen, about 550 gigawatts of new energy supply from green sources will come online over the next seven years. Against the backdrop of this generational opportunity, EverGen Infrastructure Corp. (TSX.V: EVGN) (OTCQX: EVGIF) (Profile), a specialist in RNG, has positioned itself as an emerging leader in the booming renewables sector. Others in the space that are recognized as leaders include oil juggernaut BP plc (NYSE: BP), utility Fortis Inc. (NYSE: FTS), cleantech 374Water Inc. (NASDAQ: SCWO) and Anaergia Inc. (TSX: ANRG).
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