M&A Deal Summary

EverGen Infrastructure Acquires GrowTEC

On July 14, 2022, EverGen Infrastructure acquired renewable energy company GrowTEC

Acquisition Highlights
  • This is EverGen Infrastructure’s 1st transaction in the Renewable Energy sector.
  • This is EverGen Infrastructure’s 2nd transaction in Canada.
  • This is EverGen Infrastructure’s 1st transaction in Alberta.

M&A Deal Summary
Date 2022-07-14
Target GrowTEC
Sector Renewable Energy
Buyer(s) EverGen Infrastructure
Deal Type Add-on Acquisition

Target

GrowTEC

Alberta, Canada
GrowTEC is a multi-faceted bioenergy venture by the Perry Family Farm that is a model of sustainable industry and innovative synergy. Growtec’s goal is the creation of a “first of its kind” diverse agricultural / renewable energy industry cluster. This cluster would include leading edge technology companies with the ability to manufacture biofuels, bio-based chemicals/materials, and environmentally friendly fertilizers, as well as ICT services. GrowTEC is based in Alberta.

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Buyer(S) 1

Buyer

EverGen Infrastructure

Vancouver, British Columbia, Canada
Category Company
Founded 2020
Sector Renewable Energy
Employees35
Revenue 8M CAD (2023)
DESCRIPTION

EverGen Infrastructure is combating climate change and helping communities contribute to a sustainable future, starting on the West Coast. EverGen is now established to acquire, develop, build, own and operate a portfolio of Renewable Natural Gas, waste to energy, and related infrastructure projects. EverGen is focused on British Columbia with continued growth expected across other regions in North America. EverGen Infrastructure was founded in 2020 and is based in Vancouver, British Columbia.

DEAL STATS #
Overall 2 of 2
Sector (Renewable Energy) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (Alberta) 1 of 1
Country (Canada) 2 of 2
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-22 Fraser Valley Biogas

Abbotsford, British Columbia, Canada

FortisBC operates the interconnection facility at Fraser Valley Biogas, monitoring gas quality and connecting this source of Renewable Natural Gas to its customers. The facility currently produces over 80,000 gigajoules of RNG annually enough to heat roughly 1,000 homes for a year. EverGen plans to expand and enhance the project, planning to boost RNG production to over 125,000 gigajoules per year an increase of approximately 50 percent.

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