October 9th 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 its wholly-owned subsidiary, Greenlane Biogas North America Ltd., has signed a $7.7 million (US$5.8 million) contract for a new RNG project developed by San Francisco, California-based Brightmark LLC (“Brightmark”). The multiple-site dairy farm project in the State of Florida will utilize Greenlane’s pressure swing adsorption (“PSA”) biogas upgrading systems. “This is a showcase project and second contract with Brightmark, one of the leading RNG project developers in the United States,” said Brad Douville, President & CEO of Greenlane. “We’re honored to be a trusted collaborator for this exciting new project in Florida.” Greenlane’s biogas upgrading systems will be used in Brightmark’s Sobek RNG project in Okeechobee County, Florida, at four Larson family dairy farms. The project is anticipated to generate 171,000 MMBtu annually of RNG upon completion, which will be injected into the local interstate gas pipeline system. Order fulfilment by Greenlane will start immediately.
Greenlane’s CEO, Brad Douville, was featured in an interview with Investing News Network’s Stuart McNish in which he shared the role Greenlane is playing in building a global renewable natural gas industry. When it comes to Greenlane’s mission, Douville said, “The fundamental principle is to replace fossil natural gas in the gas distribution network with a renewable form.” Much like wind, solar and hydro power have cleaned up the electricity grid, RNG can green the gas grid. Douville not only touches on the tremendous opportunity for the relatively nascent RNG industry, but also the potential upside for Greenlane.
The Ontario Energy Board (OEB) approved Enbridge’s application to offer a voluntary RNG program to its customers on a test basis. Residential and small business customers can take part in the program, which is anticipated to start in January 2021. In its decision, the OEB noted that RNG is a renewable energy source that reduces GHG emissions relative to fossil natural gas and should be explored as a means of diversifying the gas supply portfolio.
The Governor of California signed legislation in September to turn biomass from forest waste and dead trees into RNG. With another summer of catastrophic wildfires in the state, officials have been searching for measures to reduce the amount of dead and decaying trees in forests, which is estimated at nearly 150 million. By turning the organic matter into a renewable energy solution, California will be joining Oregon in moving toward stronger forest waste management practices as dead and decaying trees not only create a threat for wildfires, they also emit methane during decomposition.
SWEN Capital Partners, a benchmark player in sustainable private equity investment, announced the final closing of its SWEN Impact Fund for Transition (SWIFT), which is Europe’s first infrastructure fund dedicated to renewable gases. The fund raised €175 million, far ahead of its €120 million target. The fund, which is the first of its kind, will invest directly in methanation, renewable hydrogen, and gas and LNG refuelling infrastructure for the shipping and overland transportation sector. Recall that Greenlane announced a joint venture agreement with SWIFT in July to provide biogas Upgrading as a Service (UaaS) to developers and owners of RNG projects in Europe.
For the latest articles on the RNG sector, click on the links below!
Oct 2-9, 2020
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