IN THE NEWS
Greenlane (TSX:GRN) is a pioneer in the rapidly emerging renewable natural gas (RNG) market. We work with waste producers, gas utilities, and project developers to turn low-value biogas into a valuable low-carbon and carbon-negative clean energy resource.
Greenlane issued the following news release this week:
Greenlane signs $12.8 million in biogas upgrading system supply contracts for RNG projects in the U.S.
Greenlane announces second quarter 2021 financial results
Greenlane announced that has signed a total of $12.8 million (US$10.2 million) in contracts for RNG projects in the United States. One of the contracts involves the supply by Greenlane of its membrane separation biogas upgrading system for a project owned by an international energy company, which is a repeat order within eight months from the last one. Greenlane also announced contracts signed for the supply of two biogas upgrading systems, one each for separate RNG dairy farm projects in the States of Wisconsin and New York developed and owned by a proven leader in the waste-to-energy industry in the U.S. These two projects will each utilize Greenlane’s pressure swing adsorption (“PSA”) biogas upgrading system. “We are seeing an increase in the number and calibre of RNG project developers and owners, including large global energy producers as they seek to expand their clean energy portfolios to meet the demand for carbon negative fuel options,” said Brad Douville, President & CEO of Greenlane.
Greenlane also announced financial results for the second quarter of 2021, reporting record revenue of $12.6 million, an increase of 200% over the $4.2 million reported in the second quarter of 2020, and a gross margin of $3.2 million or 26% of revenue. “We continue to concentrate on successfully executing our business plan, while experiencing rapid growth and now generating a fourth consecutive record revenue quarter,” said Brad Douville, President and CEO of Greenlane. “With our multi-technology approach that enables us to offer compelling biogas upgrading systems, combined with our relentless focus on the global RNG market, we have positioned Greenlane as the go-to industry partner for upgrading any biogas anywhere for any project size or type.”
Greenlane is a pure play in the RNG space, offering multiple core biogas upgrading technologies, in use and proven in the industry today. Biogas upgrading sales are forecasted by industry to grow at a minimum 30% compound annual growth rate (CAGR) over the next five years in North America and Europe. Our demonstrated leadership in biogas upgrading, scope and breadth of product offerings, and 30+ years’ industry experience are fierce competitive advantages.
Today, we are a trusted partner globally and are ranked number one in installed capacity, having sold more than 125 biogas upgrading systems into 19 countries and counting. We’ve learned a lot along the way. First to market in 12 of the 19 countries where our systems have been sold, we’re also proud to have supplied the systems for the largest RNG production facilities in North America and Europe, respectively.
Through the Greenlane Digest, our goal is to provide weekly updates and the latest articles on the RNG industry. Make sure you forward our newsletter to your contacts!
Green Gas Day 2021, the UK’s largest gas-to-grid industry gathering, will take place in Birmingham on September 9. The Association for Renewable Energy and Clean Technology (REA) and CNG Services have been running Green Gas Day (formerly Biomethane Day) since 2012. The event will cover policy and technical developments relevant to all green gases, including biomethane, low-carbon hydrogen, and bio-propane. The UK has 143 existing biomethane injection points, with a further 36 projects in the pipeline. Even more biomethane-to-grid projects are expected to be built under the new Green Gas Support Scheme (GGSS), expected to be launched by the Department for Business Energy and Industrial Strategy in the fall. Additionally, changes to the Renewable Heat Incentive, which came into effect on 1 April, made it easier for biomethane producers to access support under the Renewable Transport Fuel Obligation (RTFO), boosting biomethane production at existing plants.
The World Biogas Association (WBA) has responded to the latest Intergovernmental Panel on Climate Change (IPCC) report, stating that anaerobic digestion (AD) is 'dangerously overlooked' as an immediate climate solution. The WBA has renewed its call for the potential of the biogas industry to be ‘urgently unlocked’ so that it can help deliver the “rapid reductions in greenhouse gas (GHG) emissions and, in particular, methane” that the IPCC says is needed to address the climate emergency. The WBA believes that with the right policy framework in place, AD can cut emissions by 10% by 2030.
FortisBC Energy is now receiving carbon-neutral RNG from Alberta-based Lethbridge Biogas, which has signed an agreement to provide FortisBC with up to 350,000 gigajoules of RNG annually. This is FortisBC’s third source of RNG from outside of British Columbia to date, as the firm continues to add new volumes of renewable gases and cut GHG emissions.
For the latest articles on the RNG sector, click on the links below!
Aug 6-13, 2021
UK Green Gas Day 2021 to be held in-person on September 9
Anaerobic digestion ‘dangerously overlooked’ as immediate climate solution, WBA warns
FortisBC receives RNG from Lethbridge Biogas
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