July 24th Issue of Greenlane Digest
IN THE NEWS
Greenlane (TSXV:GRN) is a pioneer in the rapidly emerging renewable natural gas (RNG) market. We work with waste producers, gas utilities, and project developers to turn low-value biogas into a valuable low-carbon clean energy resource.
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 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 30+ years’ industry experience are fierce competitive advantages.
Today, we are a trusted partner globally and are ranked number one in installed capacity, having delivered more than 100+ biogas upgrading installations in 18 countries and counting. We’ve learned a lot along the way. First to market in 11 of the 18 countries where our systems operate, we’re also proud to have supplied the systems for the largest RNG production facilities in North America and Europe, respectively.
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!
Greenlane announced that it signed a definitive joint venture agreement with SWEN Impact Fund for Transition (“SWEN”), a European fund dedicated to renewable gases managed by SWEN Capital Partners based in Paris, France, with the purpose of providing biogas Upgrading as a Service (“UaaS”) to developers and owners of RNG projects in Europe. The joint venture company, called Greenlane Biogas Finance B.V., will remove the burden of ownership on Greenlane’s clients by allowing them to replace initial capital outlays with a monthly fee. With capital provided by SWEN, this joint venture is expected to accelerate deployment of Greenlane’s biogas upgrading systems and assist in the decarbonization of the gas sector in Europe. This finalizes the agreement in principle announced on January 28, 2020. With the definitive joint venture agreement in place, Greenlane will now formally launch UaaS in the European biogas market, with the goal of accelerating the implementation of RNG projects in Europe.
Greenlane also announced the appointment of Elaine Wong to the board of directors. Ms. Wong is currently President, Pine Street Ventures Ltd. and is a seasoned executive with over 25 years of experience in accounting, finance and operations in fast growing companies. She spent 13 years with Westport Fuel Systems, a publicly listed (Nasdaq & TSX) clean technology company with a global presence, holding various senior positions including Chief Financial Officer and Executive Vice-President, Strategic Development, responsible for strategy and mergers and acquisitions. Prior to Westport, Elaine was with ISM-BC, an information technology joint venture owned by IBM and TELUS, where she was Corporate Controller and then Director of Corporate Performance responsible for financial reporting and analysis. “Elaine’s industry and accomplished financial expertise is a tremendous asset to Greenlane and the board of directors,” said Wade Nesmith, Chairman of Greenlane Renewables.
BP’s Vice President Strategic Development, Global Environmental Products Harrison Clay has forecast biogas production in the United States will increase 10-fold by 2030. He is hopeful that the biogas sector will continue to grow at current rates, which would translate to billions of gallons equivalent of RNG demand. By 2030, he believes a very large volume will be used in non-vehicle markets such as maritime, rail, utilities and heavy industry.
The American Biogas Council (ABC), a trade organization, testified this week before the U.S. House Committee on Agriculture about on farm energy production. The ABC has worked for many years with both the Senate and House Committee on Agriculture to shape and fine tune the 2018 Farm Bill to support increased sustainability and resilience in agriculture using biogas systems.
In Ireland, the Renewable Gas Forum of Ireland (RGFI) believes that the country can become a leader in RNG production due to the country’s heavy reliance on grass-based agriculture. Anaerobic digestion, which is globally accepted for its sustainability attributes, has various benefits for agriculture in Ireland, said RGFI, including creating an income stream for farmers and establishing markets for organic wastes and slurries.
And in British Columbia, the provincial government finalized a ten-year extension of the current Low Carbon Fuel Standards (LCFS) and related renewable fuel regulations, with a new mandate of a 20 percent reduction in the carbon intensity of transportation fuels by 2030. In addition, the regulation sets a 5 percent average renewable content in gasoline and 4 percent content in diesel fuels. The extension of British Columbia's LCFS is an indication that policymakers and fuel industry participants remain committed to emissions reduction targets despite the dramatic downturn in energy markets.
For the latest articles on the RNG sector, click on the links below!
July 17-24, 2020
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