May 6th 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 release this week:
Greenlane to Announce First Quarter 2022 Results on May 12, 2022 and Host Conference Call
Greenlane will announce its 2022 first quarter financial results on Thursday, May 12th, 2022 after markets close, followed by a conference call at 5:00 PM ET (2:00 PM PT). Representing management will be Brad Douville, President and Chief Executive Officer and Lynda Freeman, Chief Financial Officer. The public is invited to listen to the conference call in real time by telephone. To access the conference call by telephone, please dial: 1-800-319-4610 (Canada & USA toll-free) or 1-604-638-5340. Callers should dial in 5-10 minutes prior to the scheduled start time and ask to join the Greenlane Renewables conference call.
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!
Danish fund manager Copenhagen Infrastructure Partners (CIP) reached a €375 million first close for its new CI Advanced Bioenergy Fund (CI ABF). The fund, which has a target size of €1 billion, will focus on equity investments in advanced bioenergy infrastructure in Europe and North America. It enables institutional investors to contribute to the energy transition and participate in the decarbonization of hard to abate sectors through the production of advanced biofuels and biogas while delivering solutions for environmental and organic waste challenges. Investments will be ‘dark green’, based on sustainable feedstock such as waste wood, agricultural biowaste, and household and industrial biowaste. The offtake products will include green gas and green fuels, such as RNG, bio-LNG, and second-generation bioethanol.
Duke Energy announced its investment in two projects to convert landfill gas from two North Carolina landfills into RNG. Each project is projected to produce roughly 500,000 dekatherms (Dth) of RNG each year. The combined 1 million Dth is equivalent to the average annual natural gas usage of nearly 17,000 residential customers in North Carolina. While some of the RNG produced by the two projects will be transported by infrastructure owned and operated by Duke Energy's Piedmont Natural Gas unit, the RNG will be sold to third-party customers. The landfill projects are already under construction and are expected to be operational in the fourth quarter of 2022.
Natural Gas Vehicles for America (NGVAmerica) and Coalition for Renewable Natural Gas (RNG Coalition) announced that 64 percent of all on-road fuel used in natural gas vehicles in calendar year 2021 was RNG. RNG use as a transportation fuel grew 13 percent over 2020 volumes, up 234 percent from 2017 levels. NGVAmerica and RNG Coalition report that in 2021 a total of 610 million gasoline gallon equivalents (GGE) of natural gas were used as motor fuel. Of that, 390 million GGE were from renewable sources.
For the latest articles on the RNG sector, click on the links below!
Apr 29-May 6, 2022
Copenhagen Infrastructure Partners raises €375m for bioenergy fund
Duke Energy announces investment in two RNG projects in North Carolina
RNG accounted for 64 percent of on-road NGV fuel use in 2021
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