June 3rd Issue of Greenlane Digest
IN THE NEWS
Greenlane (TSX:GRN) is a pioneer in the rapidly emerging renewable natural gas (RNG) industry. 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. As a leading global provider of biogas upgrading systems, we are helping to clean up two of the largest and most difficult-to-decarbonize sectors of the global energy system: the natural gas grid and the commercial transportation sector.
Greenlane issued the following news releases this week:
Greenlane announced that it has been awarded a contract for $8.7 million (US$6.8 million) for a dairy manure to RNG project in the United States owned by an international energy company. This contract win marks the third project within 18 months for this customer that Greenlane has successfully bid. Greenlane will supply its membrane separation biogas upgrading system, with order fulfillment expected to commence immediately. “Greenlane continues to be selected for important RNG projects based not only on the attractiveness of our products, but also the commitment of our people to customer service,” said Brad Douville, President and CEO of Greenlane. “Despite a tough economic backdrop, efforts to decarbonize global energy systems through the use of RNG remain robust and dynamic.”
Greenlane also announced its first deployment of development capital to a company focused on developing RNG projects in California, based on the dairy cluster model. Greenlane is deploying pre-construction development capital in the form of a convertible note loan agreement with funds to be advanced on a milestone achievement basis up to US$0.9 million. The funds will be used to progress the development company’s dairy cluster project to construction financing, expected in Q4 2022, as well as to advance their pipeline of project development opportunities. Under the terms of the loan agreement, Greenlane has the option to convert the note into an equity interest in the development company in addition to realizing a return of capital. “Closing our first deployment of development capital opportunity is a major milestone for Greenlane after formally launching our program last year,” said Brad Douville, President and CEO of Greenlane. “This is the first of what we expect to be many opportunities to provide specialized RNG project development capital to accelerate RNG projects to the ready-for-construction phase, securing Greenlane system sales, and providing on-going services for each project.”
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 over 30 years of 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 135 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 many of the largest RNG production facilities in the world.
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!
The Netherlands’ first bio-LNG plant has now achieved a production milestone of one million kilograms, enabling about four million kilometres of sustainable transport with heavy-duty trucks. Nordsol, Renewi, and Shell have partnered on the project, with Nordsol opening the plant in October 2021. The plant produces 3.4 kilotons of bio-LNG per year and captures 6.3 kilotons of biogenic CO2. The biogas from which Nordsol produces bio-LNG originates from organic waste from supermarkets, collected by Renewi. Nordsol’s bio-LNG plant reprocesses the biogas into bio-LNG and Shell makes this bio-LNG available for its road transport customers at LNG service stations in the Netherlands.
FortisBC announced that it will produce RNG from its first project in Northern BC, teaming up with the Regional District of Fraser-Fort George to produce RNG from landfill gas generated at the Foothills Boulevard Regional Landfill, located in Prince George. FortisBC expects to produce approximately 90,000 gigajoules of RNG a year from this project over its 20-year contract, starting 2024. This is enough energy to meet the annual natural gas needs of approximately 1,000 homes in BC.
For the latest articles on the RNG sector, click on the links below!
May 27-Jun 3, 2022
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