March 11th Issue of Greenlane Digest
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. 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’s CEO Brad Douville appeared in the following video interview this week:
Greenlane issued the following news release this week:
Greenlane announced financial results for the fourth quarter and fiscal year ended December 31, 2021, generating record revenues in both the fourth quarter and the full year. Fourth quarter revenue in 2021 of $17.1 million increased 94% over the $8.8 million reported in the fourth quarter of 2020. Full year revenue of $55.4 million for 2021 increased 146% over $22.5 million reported in 2020. “2021 was another outstanding year for Greenlane as we advanced our business strategy focused on 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,” said Brad Douville, President and CEO of Greenlane. “The year was highlighted by the strongest revenue generation in the Company’s history. We also generated adjusted EBITDA of over $1 million for the fiscal year, a first for the Company.”
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 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!
Gas utility operators are poised to become bigger players in the RNG market in 2022 as customers expand commitments to procure low-carbon fuels. Utility executives touted the RNG volumes flowing through their distribution networks and promoted project portfolios during quarterly earnings conference calls. For some gas distributors, new state policies promoting low-carbon fuel use presented opportunities to initiate or increase RNG purchases, executives said. Amid dire warnings about climate change and a growing building electrification movement, RNG has become a critical decarbonization pathway for gas utilities.
TotalEnergies said it has formed a partnership with the French federation of farmers' unions (FNSEA) to develop renewable energy, including biofuels and biomethane, one of three moves it recently took to further its energy transition strategy. The link with FNSEA aims to develop projects to produce renewable power from agrivoltaic installations, produce biomethane from agricultural waste, and manufacture biofuels from agricultural residues or "low greenhouse gas" crops. TotalEnergies is targeting net zero emissions by 2050 and plans to spend $100 million annually to build a portfolio of projects capable of generating carbon credits worth a minimum of 5mn t/CO2 equivalent per year by 2030.
The EU plans to use funding under the Common Agricultural Policy (CAP) to double the planned production of biomethane by 2030 to reduce the reliance on gas from Russia. The European Commission aims to double the biomethane production objective of the ‘Fit for 55’ plan – the EU plan to reduce greenhouse gas emissions by 55% by 2030 – which would lead to the creation of 35 billion cubic metres of biomethane per year by that year (the current plan envisages 17 billion cubic metres per year). The boost in European biomethane output is part of an EU plan to make the bloc independent of Russian fossil fuel energy, as part of the backlash against that country’s invasion of Ukraine.
For the latest articles on the RNG sector, click on the links below!
Mar 4-11, 2022
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