Greenlane Renewables Signs $6.1 Million System Supply Contract for RNG Project with Green Impact Partners
~Greenlane selected to supply two PSA units for dairy RNG project in Colorado~
Vancouver, British Columbia, Canada – September 16, 2021 Greenlane Renewables Inc. (“Greenlane”) (TSX: GRN / FSE: 52G) today announced that its wholly-owned subsidiary, Greenlane Biogas North America Ltd., has signed with Green Impact Partners, through its EPC contractor, a biogas upgrading system supply agreement for $6.1 million (US$4.8 million) for a renewable natural gas (“RNG”) project in the State of Colorado. Green Impact Partners’ GreenGas Colorado Project consists of two dairy farms, broke ground in July 2021, and has an expected completion date in the second half of 2022. The project will utilize two of Greenlane’s pressure swing adsorption (“PSA”) upgrading systems, one for each of the two dairy farms in the project. Greenlane’s order fulfillment for this project will commence immediately.
“We’re excited to work with Green Impact Partners on its GreenGas Colorado project to showcase our market-leading biogas upgrading systems,” said Brad Douville, President and CEO of Greenlane. “RNG is a rapidly growing industry with new entrants and increasing amounts of project capital being deployed. Green Impact Partners is seizing this opportunity and making a difference as it strives to have a positive impact on the environment through its energy transition projects.”
“We selected Greenlane’s gas upgrading system for their ingenuity in its design and their commitment to quality. We look forward to working with Greenlane on this project and potentially many more,” says Jesse Douglas, CEO. “With this milestone now complete, we continue to focus on site construction ensuring all civil work is done before the winter season with a commitment from our EPC contractor to have gas flowing in 2022.”
About Green Impact Partners
Green Impact Partners (“GIP”) is a publicly traded TSX-V clean energy company. GIP is focused on leading the transition to a green and sustainable economy through clean energy and water distribution. GIP seeks to be impactful partners in a green, more sustainable future by optimizing late-stage technology to repurpose by-products into clean energy and other value-added substances. For more information please visit www.greenipi.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: waterwash, 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 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”, “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. In particular, this news release contains forward-looking statements relating to the anticipated supply of biogas equipment for the contracted project, the fact that order fulfilment will commence immediately, that the expected completion date of the project is in the second half of 2022, that RNG is a rapidly growing industry with new entrants and increasing amounts of project capital being deployed, and that Green Impact Partners may work with Greenlane on future projects. 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, which has 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.