May 29th 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 reported Q1 2020 financial results this week which saw the company generate $2.9 million in revenue and $1.3 million in gross profit (44% of revenue). The sales pipeline grew to over $700 million (from $680 million at year-end 2019), while the sales order backlog increased 40% to $22.6 million from the $16.2 million reported at December 31, 2019. “Our company and our industry continue to grow despite the backdrop of unprecedented global conditions,” said Brad Douville, President and CEO of Greenlane. “We expect revenue will continue to build throughout 2020 as new contract wins move out of our sales order backlog and into the revenue line.”
Greenlane also announced the appointments of Dale Goudie as Vice President, Technology and Product Management, and Jim Bornholdt as Vice President, Purchasing, Project Management and Quality, Health, Safety and Environment (QHSE).
According to NGVA Europe, RNG accounts for 17% of all gas fuel consumed by road transportation across the region. In Switzerland, the percentage is 22.4% of fuel sales, the UK is nearing 70%, while in Sweden 94% of CNG fuel sold is renewable. And Denmark dispenses only renewable gas from its CNG stations. In the United States, NGVAmerica recently reported that 39% of all on-road fuel used in natural gas vehicles in 2019 was RNG.
In Singapore, the country’s National Environment Agency has signed a $1.5 billion contract for the construction of an integrated waste management facility, which includes a 400 tonnes per day anaerobic digester. The waste management facility will be integrated with an adjacent water reclamation plant, with both the food waste stream and dewatered sludge co-digested to generate biogas. The biogas will then be combusted to improve overall plant thermal efficiency and boost electricity generation, with excess electricity exported to the grid.
The European Union presented its revamped long-term budget and a €750 billion COVID recovery program, coined Next Generation EU. The EU recovery program will focus on Green Deal initiatives that have previously been released, with 25% of both the budget proposal and the recovery spending earmarked for climate-friendly investment. Private investment will follow a “sustainable finance taxonomy” which provides guidelines for investment in technologies that contribute at least one of six pre-defined environmental objectives, such as climate change mitigation. The EU has a huge potential for local biomethane production, with the European Biogas Association noting that the new budget proposal and recovery package includes crucial support for the biogas industry.
In the United States, the Environmental Protection Agency (EPA) recently announced approval for a fuel pathway under the Renewable Fuel Standard (RFS) for a biomass gasification project in California that will produce RNG for sale into the transportation fuel market. Although the project will be using un-digestable feedstocks such as woody biomass, as opposed to animal manure and food waste, the project is another positive development toward increasing RNG consumption within the transportation sector.
For the latest articles on the RNG sector, click on the links below!
May 22-29, 2020
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