Evergen Infrastructure Corp.

Good morning, everyone. This is Victoria from Adelaide Capital, and thank you for joining the Evergen Infrastructure Q1 earnings call today. So with me, I have CEO Chase Edgelow, COO, and President Misha Zatman, as well as the Chief Financial Officer, Sean Hennessey. I do want to remind everyone that there could be forward-looking information as well as non-IFRS financial measures in the presentation, so I would just advise everyone to refer to the disclaimer at the end of the investor presentation. And with that, I'm going to pass it over to Chase to walk us through the deck. I'll be back at the end. And if you have a question, just put it in the Q&A box and we'll get to it at the end of the verbal presentation.

Great. Thanks, Victoria. And welcome, everyone. We'll keep it relatively short and sweet today, given that we just went through our broader corporate updates at your end in May. But we are Excited to be here in front of investors again, talking about our Q1 results, which really represent a turning point for Evergen, where we've got, we transitioned from our historical core production out of our existing four assets that are online today, and we start ramping up that production with expanded capacity that we're building out that we built out at Grotech and then we're building out at Fraser Valley Biogas. So with that, I think in terms of the results themselves, just what that demonstrates, having that built out capacity provides opportunities for us to maximize our EBITDA from both taking in organic feedstock on the front end of our facilities and selling additional gas on the back end. And with that, I'll turn it over to Sean Hennessey to walk through our Q1 results.

Yeah thanks for that Chase and welcome everyone to the Q1 update call. Similar to Q4, Q1 2023 was another quarter where our primary focus was on the delivery of our projects, while managing our existing cash flows from our operations. We continue to progress our investments into Fraser Valley Biogas, Pacific Coast Renewables and Grotech with approximately $1.7 million of CapEx addition at each facility. And we ended Q1 with a cash position of just shy of $6 million with an additional $25 million of debt available from our previously announced debt facility. which we drew $2 million on subsequent to quarter end in early May to partially fund the Fraser Valley biogas projects. And we expect to draw an additional seven and a half million from that facility before the end of Q2. Moving on to revenues, our revenues increased 18% year over year. This was mainly driven by increased organic feed stock. and additional RNG production combined with higher pricing, as well as the electricity revenue generated from the acquisition of Grotech in mid 2022. Net income EBITDA and adjusted EBITDA all decreased slightly between 600 and 800k, and this was mainly due to $600,000 of insurance proceeds recorded in the prior year. Overall, Q1 2023 was a successful quarter for Evergen as we see our organic feedstock levels start to increase and we look forward to continuing to grow both of our RNG and organic waste production operating segments.