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~Greenlane to supply first RNG project in Colombia, its 19th country, plus a new system in Spain~
Greenlane Renewables Inc. (" Greenlane ") (TSX: GRN / FSE: 52G) today announced the signing of approximately $6.2 million in new biogas upgrading system supply contracts.
The first contract is for the supply of its pressure swing adsorption biogas upgrading system to a municipality in Colombia. Engineering work will commence immediately with a notice to proceed on equipment fabrication expected later this year. This project will be the first commercial-scale biogas upgrading system deployed in Colombia, producing clean, low-carbon renewable natural gas ("RNG") for direct injection into the local natural gas grid.
The second contract is for the supply of Greenlane's water wash biogas upgrading system in Spain. Order fulfilment of this contract will commence immediately, however, and for further transparency, the customer has a two-week period in which it may exercise an option to halt further activity with no penalty. For competitive reasons, individual contract amounts have not been disclosed at this time.
"Greenlane continues to expand its pioneering global reach with a new system contract win in Colombia, which marks Greenlane's 19th country for technology deployment and 12th country to be the first to supply biogas upgrading equipment," said Brad Douville, President & CEO of Greenlane. "Supplying biogas upgrading equipment for the first time into Columbia is further evidence that RNG continues to be globally recognized as a key component of the overall decarbonization solution. We see a significant opportunity in South America and continue to be seen as a market leader with multiple technologies, allowing us to be competitive on a global scale."
"Receiving an order from our customer in Spain is another example of the success we're seeing as a trusted supplier in the biogas upgrading industry. Project developers and engineering firms alike recognize the value of our multiple technology approach, expertise and long standing history in the RNG industry," added Douville.
About Greenlane Renewables
Greenlane Renewables is a leading global provider of biogas upgrading systems that are helping decarbonize natural gas. Our systems produce clean, low-carbon and carbon-negative renewable natural gas from organic waste sources including landfills, wastewater treatment plants, dairy farms, and food waste, suitable for either injection into the natural gas grid or for direct use as vehicle fuel. Greenlane is the only biogas upgrading company offering the three main technologies: water wash, pressure swing adsorption, and membrane separation. With over 30 years industry experience, patented proprietary technology, and over 110 biogas upgrading systems sold into 19 countries worldwide, including the world's largest biogas upgrading facility, Greenlane is inspired by a commitment to helping waste producers, gas utilities or project developers turn a low-value product into a high-value low-carbon renewable resource. For further information, please visit www.greenlanerenewables.com .
FORWARD LOOKING INFORMATION – This news release contains "forward-looking information" within the meaning of applicable securities laws. All statements contained herein that are not historical in nature contain forward-looking information. Forward-looking information can be identified by words or phrases such as "may", "expect", "likely", "should", "would", "plan", "anticipate", "intend", "potential", "proposed", "estimate", "believe" or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions "may" or "will" happen. In particular, this news release contains forward looking information relating to the anticipated supply of biogas equipment on two projects. The forward-looking information contained herein is made as of the date of this press release and is based on assumptions management believed to be reasonable at the time such statements were made, including management's perceptions of future growth and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances. While management considers these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct. By their nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond the Company's control, could cause actual results to differ materially from the forward-looking information in this press release. Such factors include, without limitation, risks identified in the Company's annual information form, base shelf prospectus and prospectus supplement, which have been filed under the Company's SEDAR profile at www.sedar.com . Readers are cautioned not to put undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210422005685/en/
Incite Capital Markets
Eric Negraeff / Darren Seed
Greenlane Renewables Inc.
Brad Douville, President & CEO,
Ph: 604.493.2004
Email: IR@greenlanerenewables.com
