November 29th Issue of Greenlane Digest
IN THE NEWS
Greenlane Announces Third Quarter Results
Greenlane joins industry and WBA in urging governments to unlock biogas potential
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!
Over the past week, Greenlane released its third quarter results, in which it posted revenue of $5 million and a gross profit of $1.3 million in its first complete quarter as a publicly-listed company. the future continues to look bright for Greenlane, as the global RNG market is positioning for rapid growth from what is still a very low base.
In addition, Greenlane joined other biogas industry leaders and the World Biogas Association in signing the ground-breaking Biogas and Climate Change Commitment Declaration, which calls on the world’s governments to act urgently to unlock the biogas sector’s potential to cut global GHG emissions by at least 12% within the next 10 years.
In other industry news, BMW announced a collaboration with a California creamery to create a low-carbon charging network for BMW’s electric vehicle customers in the state. The Straus Family Creamery will use biogas produced from its dairy waste to generate electricity to charge the EVs. The partnership is the first of its kind in the transportation industry and showcases how California’s Low Carbon Fuel Standards program is helping the transportation and farming industries decrease GHG emissions.
The Wall Street Journal also ran an article highlighting biogas production in the United States and the value of RNG, as it can be used to meet carbon-reduction mandates and goals as well as to create low-carbon fuel standard credits, which have value and can be traded. Bank of America Merrill Lynch analysts are quoted in the article stating current biogas production of roughly 1.1 BCF/D, or 1% of Lower 48 production, but growing at a 4% annual clip.
For the latest articles on the RNG sector, click on the links below!
November 22-29, 2019
Shale Driller's Latest Problems: Hog Manure and Chicken Guts
BMW collaborates on dairy waste-to-biogas project for EVs
Environmental Benefits of RNG as Fuel
Global Biogas Industry Leaders Challenge Governments to Unlock Biogas Potential
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