Greenlane Renewables Announces Further Expansion in South America with New Contract Wins Totaling $13.5 Million
~Greenlane to supply its water wash upgrading technology for two new landfill gas-to-RNG projects~
Vancouver, British Columbia, Canada – August 2, 2022 Greenlane Renewables Inc. (“Greenlane”) (TSX: GRN / FSE: 52G) today announced that it has signed new contracts with a combined value of $13.5 million (US$10.5 million) for the supply of its biogas upgrading technology for two landfill gas-to-renewable natural gas (“RNG”) projects in South America. Greenlane will supply two water wash upgrading systems, the largest in its product line, each capable of processing enough landfill gas to produce up to approximately 850,000 MMBTU annually of pipeline specification RNG for commercial use. The project owner and locations have not been disclosed at this time. Greenlane’s order fulfillment for both projects will commence immediately.
“Greenlane continues to build on its success as an early mover in South America, a market that we believe has tremendous upside,” said Brad Douville, President and CEO of Greenlane. “We are proud to have been chosen to partner on these two large landfill projects and to help efforts to decarbonize the local energy systems. Of the three core upgrading technologies that Greenlane offers to create pipeline quality RNG, for these two projects our proven water wash technology was identified as the most compelling, in large part because it scales particularly well with size and avoids expensive pretreatment to provide superior project economics.”
About Greenlane Renewables
Greenlane Renewables is a pioneer in the rapidly growing renewable natural gas (“RNG”) industry. 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. Our systems produce clean, low-carbon and carbon-negative RNG from organic waste sources such as landfills, wastewater treatment plants, dairy farms, and food waste streams. To the company’s knowledge, Greenlane is the only biogas upgrading company offering the three main technologies: waterwash, pressure swing adsorption, and membrane separation. Greenlane’s business has been built on over 30 years of industry experience, patented and proprietary technology, over 100 hydrogen sulfide treatment systems sold, and over 135 biogas upgrading systems sold into 19 countries, including some of the largest RNG production facilities in the world. For further information, please visit www.greenlanerenewables.com.
For more information please contact:
Incite Capital Markets
Eric Negraeff / Darren Seed
Brad Douville, President & CEO, Greenlane Renewables
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 statements relating to the anticipated supply of two water wash upgrading systems, the fact that order fulfillment will commence immediately, and that RNG is a rapidly growing industry. 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, which has 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.