This is a new game currently in Alpha and is using the Unreal Engine 4. Unfortunately the game's ver-, and the FoV is being constrained just like in UE3. I tried using the old fix from UE3 that involved editing the Engine.ini file and changing the line "...AspectRatio_MaintainXFOV" to "...AspectRatio_MaintainYFOV", but it wasn't in any of the game's ini files. Adding it doesn't effect the game.
Not sure if someone has the Alpha, or experience in getting UE4 games to run Surround correctly like in UE3, but if someone does would someone please care to look into this?

EDIT: Credit goes to skid for this fix, seems I was missing a minor detail when editing the .ini files:
1. Navigate to Users\USERNAME\AppData\Local\RSG\Saved\Config\WindowsNoEditor
2. Open Engine.ini
3. Add this line to the file:
[/Script/Engine.LocalPlayer]
AspectRatioAxisConstraint=AspectRatio_MaintainYFOV
4. Save the file, close it and play. You should now be able to play Everspace in nVidia Surround or 21:9 without fear of Vert-.
Now the only thing missing is to lower the FoV somewhat. Getting the fish eye lens effect from high FoV.