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~Greenlane to supply biogas upgrading equipment for RNG projects in the U.S. Midwest and Brazil~
Greenlane Renewables Inc. (" Greenlane ") (TSX: GRN / FSE: 52G) today announced that its wholly-owned subsidiary, Greenlane Biogas North America Ltd., has signed two contracts together worth $3.6 million (US$2.8 million) for new renewable natural gas (" RNG ") projects. The first contract involves a project in the Midwest United States for upgrading biogas to RNG from dairy operations. The Brazilian contract win marks the fifth contract for Greenlane for the supply of biogas upgrading equipment in the country. For competitive reasons, further contract details have not been disclosed at this time.
"The transition to renewable natural gas as an essential solution to decarbonize transportation and the natural gas grid continues to build momentum," said Brad Douville, President & CEO of Greenlane. "We're seeing new opportunities progress through our sales pipeline at an increased pace and we're seeing results from the investments we made in product development, marketing and sales over the last 12 to 18 months. These two new contract wins demonstrate continued success in sectors where we see additional upside potential and a unique position in the market for Greenlane."
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 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 supplied into 18 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. 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.
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Incite Capital Markets
Eric Negraeff / Darren Seed
Ph: 604.493.2004
Brad Douville, President & CEO, Greenlane Renewables
Email: IR@greenlanebiogas.com
