December 4th Issue of Greenlane Digest
IN THE NEWS
Greenlane (TSXV: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 clean energy resource.
Greenlane signs $10 million system supply contract for a new RNG project in the U.S. owned by an international energy company
Greenlane announces exercise of warrants for gross proceeds of $4.5 million
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 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 delivered more than 110 biogas upgrading systems in 18 countries and counting. We’ve learned a lot along the way. First to market in 11 of the 18 countries where our systems operate, 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!
Greenlane announced that it has signed a $10 million (US$7.7 million) contract for a new RNG project in the United States owned by an international energy company. This project will utilize Greenlane’s membrane separation biogas upgrading system and order fulfilment by Greenlane will start immediately. “Greenlane continues to gain traction with global energy companies as they seek to diversify their energy portfolios and introduce low carbon intensity fuel options to their customer base.” said Brad Douville, President & CEO of Greenlane. “To be selected for this exciting new project showcases again our unique ability to provide the best solution from our portfolio of multiple upgrading technologies. This is becoming increasingly important as our customers originate, develop and finance a wide range of projects within their respective portfolios each with unique requirements. This ability, combined with our decades of experience and proven track record, makes Greenlane the ideal partner to help all of our customers scale up rapidly.”
Greenlane also announced that over the course of the last two weeks the company has received $4.5 million in gross proceeds from the exercise of 7,303,000 share purchase warrants, which entitled the warrant holders the right to purchase common shares of Greenlane at either $0.26 or $0.70. “The warrant exercises strengthen our balance sheet and show a vote of confidence in Greenlane’s business model and our future growth prospects,” said Mr. Douville.
The United States Green Building Council (USGBC) has announced the inclusion of RNG in the latest beta version of its LEED (Leadership in Energy and Environmental Design) certification program, which provides a framework for healthy, highly efficient, and cost-saving green buildings. The LEED certification is a globally recognized symbol of sustainability achievement and leadership, and now RNG procurement may contribute to the achievement of points toward LEED certification.
India has issued an open invitation to biogas developers to invest in the country through the launch of its “One Nation, One Gas Grid” initiative. The country has already laid 16,800 km of natural gas pipeline, with an additional 14,700 km under construction. An estimated US$60 billion is earmarked for developing gas infrastructure, which includes pipelines, city gas distribution networks, and LNG regasification terminals. As part of the massive natural gas infrastructure build out, India has also launched the Compressed BioGas (CBG) initiative through which it is targeting 5,000 compressed biogas plants with an annual capacity of 15 million metric tonnes that will support its Sustainable Alternative Towards Affordable Transportation (SATAT) program designed to reduce carbon emissions.
Thirteen commercial transportation organizations in British Columbia continued to progress on their business and climate action goals this year through the rollout of 144 new vehicles fuelled by FortisBC’s natural gas in 2020. The majority of these new natural gas vehicles are now fuelled by compressed natural gas, which reduces greenhouse gas emissions by up to 25 per cent compared to diesel fuel. In total, these organizations are expected to reduce more than 2,000 tonnes of carbon dioxide equivalent in emissions annually.
For the latest articles on the RNG sector, click on the links below!
Nov 27-Dec 4, 2020
RNG now recognized in LEED green building standards
“One Nation, One Gas Grid”, one big opportunity for biogas developers in India
Thirteen transportation organizations in BC hit the brakes on diesel and shift to natural gas
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