Vancouver, British Columbia, Canada – July 4, 2024 Greenlane Renewables Inc. (“Greenlane” or the “Company”) (TSX: GRN / FSE: 52G) today announced that the Company has extended its $26.5 million standby letter of credit facility (the “Facility”) to April 30, 2025. The Facility is secured by a guarantee from Export Development Canada.
“This extension marks a significant milestone in supporting the Company's financial flexibility,” said Monty Balderston, CFO of Greenlane. The Facility supports the Company’s pursuit and fulfillment of larger projects and larger portfolios of projects in the global RNG market.
About Greenlane Renewables
Greenlane is driving change: accelerating the energy transition to a net-zero emissions economy. We are cleaning up two of the largest and most difficult to decarbonize sectors of the global energy system: the natural gas grid and commercial transportation. As a pioneer and leading specialist in biogas upgrading, we have been actively contributing to the decarbonization of our planet for over 35 years. The systems we provide transform biogas generated from organic waste into high-value grid-ready renewable natural gas (“RNG”). Our systems produce clean, low-carbon and carbon-negative RNG from organic waste sources including agriculture (such as dairy and hog manure), water resource recovery facilities, food waste, landfills, and sugar mills. Greenlane is the only biogas upgrading company offering and actively deploying the three main upgrading technologies: waterwash, pressure swing adsorption, and membrane separation, plus proprietary biogas desulfurization technology. Greenlane has delivered over 145 biogas upgrading systems into 19 countries, including some of the largest RNG production facilities in the world, and over 160 biogas desulfurization units. For further information, please visit www.greenlanerenewables.com.
For more information please contact:
Incite Capital Markets
Eric Negraeff / Darren Seed
Ph: 604.493.2004
Ian Kane, President & CEO, Greenlane Renewables
Email: IR@greenlanerenewables.com
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Greenlane Renewables
110 - 3605 Gilmore Way
Burnaby BC
V5G 4X5, Canada.
IR@greenlanerenewables.com