May 7th Issue of Greenlane Digest
IN THE NEWS
Greenlane (TSX: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 and carbon-negative clean energy resource.
Greenlane issued the following news release this week:
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 sold more than 125 biogas upgrading systems into 19 countries and counting. We’ve learned a lot along the way. First to market in 12 of the 19 countries where our systems have been sold, 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 will announce its 2021 first quarter financial results on Wednesday, May 12th, 2021 after markets close, followed by a conference call at 5:00 PM ET (2:00 PM PT). Representing management will be Brad Douville, President and Chief Executive Officer and Lynda Freeman, Chief Financial Officer. The public is invited to listen to the conference call in real time by telephone. To access the conference call by telephone, please dial: 1-800-319-4610 (Canada & USA toll-free) or 604-638-5340. Callers should dial in 5-10 minutes prior to the scheduled start time and ask to join the Greenlane Renewables conference call.
Last December, energy company Dominion Energy and food manufacturer Smithfield Foods announced completion of an RNG facility in southwestern Utah, the first of four similar projects that Align Renewable Natural Gas—a joint venture formed in November 2018 between Dominion and Smithfield—is spearheading, which is just one of a string of new, notable developments that suggest RNG is quickly gaining ground as the energy transition unfolds. The environmental attributes of RNG are attractive to both policymakers and investors alike because they offer both a pathway for the natural gas industry to meet energy sector decarbonization goals, as well as future resilience of the energy system by providing a locally sourced supply of clean energy.
On April 19, the federal government tabled its budget for 2021, the first federal budget since the COVID pandemic began. It has been dubbed the “recovery” budget, proposing targeted spending to stimulate the economy, create jobs and drive a durable recovery. The Canadian Biogas Association (CBA) believes that biogas will be an important part of this recovery while the federal budget will provide a boost to biogas opportunities. The CBA highlights the $1.5 billion Clean Fuel Fund, designed to accelerate production and adoption of renewable fuels like biogas and RNG, as well as the $165 million Agricultural Clean Technology program, which can drive biogas opportunities on farms, as critical programs that will support Canada’s biogas potential in the short term. The CBA believes that a strong commitment to biogas could create close to 20,000 jobs and launch 100 new or expanded Canadian businesses.
A new biogas power plant in Brazil now generates energy using agricultural by-products. The $28 million project in the state of São Paulo, generates 21 MW of installed capacity, making it one of the largest biogas power plants in the world. The feedstocks are vinasse, which is slop leftover from distillation, and filter cake, residue from sugarcane juice purification, both by-products from sugar cane processing by an adjacent sugar cane plant. This plant crushes over five million tons of sugar cane annually, ensuring a virtually endless supply of feedstock to produce clean, renewable energy.
For the latest articles on the RNG sector, click on the links below!
Apr 30-May 7, 2021
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