June 26th 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 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 100+ biogas upgrading installations 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!
Another global oil and gas producer announced a commitment to decarbonization and RNG, as Spanish energy company Repsol is investing €20 million into a waste-to-energy project at its Basque refinery, one of the largest in Spain. Biogas will be generated from urban waste and will be used to help power the refinery’s operating processes. In addition to the biogas project, Repsol will also be funding one of the largest net-zero emissions synthetic fuel production plants in the world based on green hydrogen generated with renewable energy.
In the United States, the House of Representatives released its proposal to rebuild U.S. communities with infrastructure and innovation, entitled The Moving Forward Act. The $1.5 trillion proposal includes several tax provisions that will directly benefit the biogas industry, notably the creation of an investment tax credit for RNG- and heat-based biogas systems. Currently the U.S. has 2,000 operational biogas systems, with the potential to build up to 15,000 systems resulting in an approximate $45 billion capital investment, 374,000 short-term construction jobs, and 25,000 permanent operations jobs.
DTE Energy, an electric and natural gas utility in Michigan, announced its plan to make its natural gas business a net-zero GHG emitter by 2050. Serving 1.3 million natural gas customers in the state, the utility plans to reach its target through a combination of efficiency measures within its operations and encouraging customers to improve their natural gas consumption efficiencies, as well as integrating a program to allow customers to purchase RNG and carbon credits.
Brian Moynihan, the Chairman and CEO of Bank of America, has challenged every public company to commit to carbon neutrality. In a panel discussion on stakeholder capitalism and ESG disclosure, Mr. Moynihan argued that a net-zero carbon emissions commitment is key to helping companies re-evaluate their current operational strategies in order to reduce environmental footprints, which could potentially lead to huge business opportunities for clean energy companies.
For the latest articles on the RNG sector, click on the links below!
June 19-26, 2020
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