Greenlane Renewables Signs New $7.0 Million System Supply Contract with the Renewable Natural Gas Company, a Leader in Landfill Gas to RNG Projects
~Greenlane to supply three biogas upgrading systems for use in eastern United States landfill applications~
Burnaby, British Columbia, Canada – February 6, 2020 Greenlane Renewables Inc. (“Greenlane”) (TSXV: GRN / FSE: 52G) today announced that its wholly-owned subsidiary, Greenlane Biogas North America Ltd., has signed a $7.0 million (US$5.3 million) contract with Ligonier, Pennsylvania based Renewable Natural Gas Company (“RNGC”). Greenlane to supply three biogas upgrading systems, which utilize Greenlane’s proprietary water wash technology, for landfill applications in the eastern United States.
“We are delighted to have been selected by RNGC to provide the biogas upgrading systems for RNGC’s landfill projects where the resulting clean, low carbon renewable natural gas will be injected into the natural gas pipeline,” said Brad Douville, President & CEO of Greenlane. “Our technology is ideally suited for this application developed by RNGC to provide robust low-cost operation. We look forward to working with RNGC to make this project a success.”
The biogas systems will be used in landfill gas projects in Virginia and Missouri. Order fulfilment by Greenlane will start upon receipt of a notice to proceed from RNGC and RNGC’s financing approval, expected by the end of the first quarter.
“We chose Greenlane’s water wash technology based on its reliability, price and performance,” said Jeffrey Craig, CEO of RNGC. “We look forward to working with Greenlane on this project and exploring future opportunities to work together.”
About Renewable Natural Gas Company
The principals of RNGC have over 50 years of combined experience in the landfill gas project space. RNGC is uniquely positioned to deliver renewable natural gas to the transportation market. RNGC is a developer of landfill gas to renewable natural gas (“RNG”) projects encompassing the full design, construction, ownership, and operation process. For more information please visit www.rngas.com.
About Greenlane Renewables
Greenlane Renewables is a leading global provider of biogas upgrading systems that are helping decarbonize natural gas. Our systems produce clean, low-carbon renewable natural gas from organic waste sources including landfills, wastewater treatment plants, dairy farms, and food waste, suitable for either injection into the natural gas grid or for direct use as vehicle fuel. Greenlane is the only biogas upgrading company offering the three main technologies: water wash, pressure swing adsorption, and membrane separation. With over 30 years industry experience, patented proprietary technology, and over 100 biogas upgrading units supplied into 18 countries worldwide, including the world’s largest biogas upgrading facility, Greenlane is inspired by a commitment to helping waste producers improve their environmental impact, green credentials, and bottom line. For further information, please visit www.greelanerenewables.com.
For more information please contact:
Incite Capital Markets
Eric Negraeff / Darren Seed
Brad Douville, President & CEO, Greenlane Renewables
FORWARD-LOOKING INFORMATION – This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not historical in nature contain forward-looking information. Forward-looking information can be identified by words or phrases such as “may”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions "may" or "will" happen. The forward-looking information contained in this press release, includes, but is not limited to, Greenlane will supply RNGC with biogas upgrading systems utilizing Greenlane’s proprietary water wash technology for landfill applications in the United States; the resulting renewable natural gas will be injected into the natural gas pipeline; the RNGC developed application will provide a robust low-cost operation; the project will be a success; order fulfilment will start upon receipt of a notice to proceed; the customer receiving financing on approvable terms; the receipt of such notice will be expected by the end of the first quarter; and there will be future opportunities to work together with RNGC. The forward-looking information contained herein is made as of the date of this press release and is based on assumptions management believed to be reasonable at the time such statements were made, including management's perceptions of future growth, results of operations, operational matters, historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances. While we consider these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct. By their nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release. Such factors include, without limitation, the risks that Greenlane will not be able to supply RNGC with the biogas upgrading systems as contemplated; the resulting renewable natural gas may not be injected into the natural gas pipeline; the RNGC developed application may not provide a robust low-cost operation; the project may not be a success or as expected; order fulfilment may not occur as contemplated or at all; and future opportunities to work with RNGC may not be as expected. Additional risk factors can also be found in the Company's filing statement and prospectuses, which have been filed under the Company's SEDAR profile at www.sedar.com. Readers are cautioned not to put undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release or has in any way approved or disapproved of the contents of this press release.