Greenlane Renewables Signs $12.1 Million Contract with FortisBC to Supply Biogas Upgrading System to Vancouver Landfill
~Greenlane will supply biogas upgrading system for landfill gas to pipeline-injection renewable natural gas project in British Columbia~
Vancouver, British Columbia, Canada – December 23, 2021 Greenlane Renewables Inc. (“Greenlane”) (TSX: GRN / FSE: 52G) today announced that its wholly-owned subsidiary, Greenlane Biogas North America Ltd., has been awarded a $12.1 million contract by FortisBC Energy Inc. (“FortisBC”) for the supply of a biogas upgrading system for a new project at the Vancouver landfill in British Columbia, Canada. Order fulfillment is expected to commence immediately.
Greenlane will supply its two-stage pressure swing adsorption (“PSA”) system to upgrade the landfill gas to clean, low carbon renewable natural gas (“RNG”) for direct injection into FortisBC’s regional natural gas pipeline system.
“Greenlane is proud to have been chosen by FortisBC as a key supplier in the City of Vancouver’s landfill gas-to-RNG project for the supply of our PSA biogas upgrading system,” commented Brad Douville, President and CEO of Greenlane. “Greenlane’s continued success in winning supply contracts for complex projects is a testament to our people, proven track record, and comprehensive portfolio of biogas upgrading systems using the most compelling core technologies. We look forward to working yet again with FortisBC, an early mover in adopting RNG as a low carbon and carbon-negative fuel to help decarbonize its natural gas supply.”
“Increasing the amount of RNG supply in our natural gas delivery system is an important driver in helping our customers reduce their greenhouse gas emissions by 30 per cent by 2030, and this project will meaningfully increase that RNG supply,” said David Bennett, Director of Renewable Gas and Low Carbon Fuels with FortisBC. “Greenlane’s expertise and experience in biogas upgrading is a welcome addition to this exciting project.”
FortisBC Energy Inc. is a regulated utility focused on providing safe and reliable energy, including natural gas, renewable gas, propane and thermal energy solutions. FortisBC Energy Inc. employs more than 2,000 British Columbians and serves approximately 1,054,097 customers across British Columbia. FortisBC Energy Inc. owns and operates approximately 50,182 kilometres of natural gas transmission and distribution pipelines. FortisBC Energy Inc. is a subsidiary of Fortis Inc., a leader in the North American regulated electric and gas utility industry. FortisBC Energy Inc. uses the FortisBC name and logo under license from Fortis Inc. For further information on FortisBC, visit www.fortisbc.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 and carbon-negative 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 125 biogas upgrading systems sold into 19 countries worldwide, including the world’s largest biogas upgrading facility, Greenlane is inspired by a commitment to helping waste producers, gas utilities or project developers turn a low-value product into a high-value low-carbon renewable resource. For further information, please visit www.greenlanerenewables.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”, “is expected”, “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. In particular, this news release contains forward looking information relating to the expected order fulfillment of the $12.1 million contract; the supply and use of Greenlane’s PSA technology to create clean renewable natural gas. 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 and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances. While management considers 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 the Company’s control, could cause actual results to differ materially from the forward-looking information in this press release. Such factors include, without limitation, risks identified in the Company's annual information form and in other documents filed with Canadian securities regulatory authorities on the Company's SEDAR profile at www.sedar.com. Readers are cautioned not to put undue reliance on forward-looking information. Actual results may differ materially from those anticipated. 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.