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~Greenlane receives repeat order for project owned by international energy company and, separately, two orders for projects developed and owned by proven leader in the waste gas-to-energy industry~
Greenlane Renewables Inc. ("Greenlane") (TSX: GRN) (FSE: 52G) today announced that its wholly-owned subsidiary, Greenlane Biogas North America Ltd., has signed a total of $12.8 million ( US$10.2 million ) in contracts for renewable natural gas ("RNG") projects in the United States . One of the contracts involves the supply by Greenlane of its membrane separation biogas upgrading system for a project owned by an international energy company. This is a repeat order within eight months from the last one. Greenlane is also announcing contracts signed for the supply of two biogas upgrading systems, one each for separate RNG dairy farm projects in the States of Wisconsin and New York developed and owned by a proven leader in the waste-to-energy industry in the U.S. These two projects will each utilize Greenlane's pressure swing adsorption ("PSA") biogas upgrading system. The identification of both project owners has been withheld at this time. Order fulfilment by Greenlane will start immediately on all three contracts.
"We are seeing an increase in the number and calibre of RNG project developers and owners, including large global energy producers as they seek to expand their clean energy portfolios to meet the demand for carbon negative fuel options," said Brad Douville , President & CEO of Greenlane. "We have worked hard to be the go-to solution provider for these customers and anticipate continued success. We believe that our ability to compete for and win new projects is based on our flexibility to provide multiple core upgrading technologies, our sole focus on the RNG market, and our strong industry track record and reputation."
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 125 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 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", "anticipate", "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. 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.
SOURCE Greenlane Renewables Inc.
View original content: https://www.newswire.ca/en/releases/archive/August2021/10/c0811.html
