Welcome to our monthly recap, where we combine the latest in the RNG industry with exclusive Greenlane Renewables updates, as we collectively navigate the path to a more sustainable future.
Some great industry developments are at work as we continue to cover the RNG space!
Greenlane’s Latest News
Greenlane Renewables Announces First Quarter 2024 Financial Results
On May 9th, Greenlane announced its financial results for the first quarter ended March 31, 2024. For further information on these results please see the Company’s Condensed Consolidated Interim Financial Statements and Management’s Discussion and Analysis filed under the Company’s profile on SEDAR+ at www.sedarplus.ca.
“We recognized a significant improvement in Adjusted EBITDA with a reduced loss of $0.5 million in Q1 2024 compared to a loss of $1.7 million in Q4 2023,” said Ian Kane, President & CEO of Greenlane. “We continue to drive toward our goal of positive Adjusted EBITDA this year, which also requires us to refill our sales pipeline. We have significant sales activities ongoing and look to convert them into purchase orders as soon as possible. With respect to our collaborative agreement with ZEG Biogás in Brazil announced a year ago, we started to recognize royalty revenue this quarter, which will help improve our overall business and margin profile and further strengthen our brand presence in Brazil.” - Excerpt from Ian Kane, President and CEO of Greenlane’s news release comments, May 9th, 2024.
Read here for the complete press release.
Greenlane’s Product Insights
Saving H₂S Removal Costs and Reducing Downtime with Greenlane’s Cascade H2S
H₂S (Hydrogen Sulfide) is a hazardous chemical compound present in every biogas project. Its impact on health, safety, the environment, and process equipment means it must be removed before biomethane or renewable natural gas (RNG) is ready for pipeline use. Learn how Greenlane’s Cascade H2S removal solution fits into the market, effectively tackling high concentrations of H₂S and/or high flow rates.
Industry News
2024 International Biogas Congress & Expo Set to Begin June 18th
The 2024 International Biogas Congress & Expo is set to commence in Brussels on June 18th. Following on from the success of last year’s International Biogas Congress & Expo, which attracted over 350 attendees from across the bio spectrum, this year’s edition promises to deliver yet another world-leading program of presentations, knowledge-sharing and networking opportunities.
Energy Vision Report Offers Roadmap for Cutting U.S. Methane Emissions
A new report published by the non-profit Energy Vision lays out a data-driven roadmap for a complementary strategy to the EPA’s New Source Performance Standards (NSPS) which would allow the U.S. to cut methane emissions by 30% by 2030. The report suggests building more anaerobic digesters to capture the biogas created from the digestion of food waste and agricultural manure and converting this biogas into renewable energy is a practicable, cost-effective path to cutting U.S. methane emissions.
U.S Senate Introduces $1.00 RNG Motor Fuel Tax Credit Bill
A bipartisan effort to provide a $1.00 per gallon tax credit for motor vehicles that use renewable natural gas (RNG) to further support cleaner and more efficient transportation across America was introduced by Senators Thom Tillis (R-NC) and Mark Warner (D-VA). The Renewable Natural Gas Incentive Act of 2024 would create a $1.00 per gallon tax credit for dispensers of renewable natural gas used for transportation, thereby encouraging commercial truck and transit fleets to convert their vehicles to ultra-low emission RNG or biomethane.
CIP Invests in One of Denmark’s Largest Biogas Plants
KK Invest, DBC Invest and Copenhagen Infrastructure Partners have entered into an agreement regarding the acquisition of the majority of the shares in Sindal Biogas. The plant is currently owned by KK Invest and DBC Invest. With Copenhagen Infrastructure Partners, the purpose is to jointly develop, expand and operate the existing biogas plant as a continued hub for sustainable bioenergy in Northern Jutland.
White Summit Capital Purchases Majority Stake in Portuguese Biomethane Producer
Energy transition infrastructure manager White Summit Capital has agreed to buy a majority stake in Ferbgas Renewable, a leading independent biomethane producer in Portugal dedicated to developing, building and operating biomethane plants. This transaction makes White Summit Capital a key independent player in Portugal’s emerging biomethane industry with Ferbgas holding a project pipeline accounting for roughly 15% of the country’s estimated biomethane production by 2030.
Ireland’s National Biomethane Conference Supports the Implementation of the National Biomethane Strategy
The National Biomethane Conference 2024 is a timely stakeholder engagement to support the implementation of the National Biomethane Strategy. 'Ireland Biomethane – pathway to 2030', is organised by Renewable Gas Forum Ireland in partnership with the Department of Agriculture, Food and the Marine, the Department of Environment, Climate and Communications, and KPMG. Having set a national target of 5.7TWh biomethane production by 2030 will require the construction of 150-200 large-scale AD biomethane plants with some already through the planning process.
Thank you for your time and interest in Greenlane Renewables and have a great day!
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