Greenlane Renewables Announces $35.3 Million System Supply Contract in Brazil

~Greenlane to supply complete landfill gas-to-biomethane upgrading solution to repeat customer~

VANCOUVER, BC , Oct. 5, 2023 /CNW/ - Greenlane Renewables Inc. ("Greenlane") (TSX: GRN) (FSE: 52G) is pleased to announce that it has been awarded a contract valued at $35.3 million (US$26.2 million) by a leading environmental services company in Brazil that is investing in a portfolio of landfill assets across the country to produce biomethane. Under the terms of the agreement, Greenlane will supply its proven Cascade PSA LF product, a complete landfill gas-to-biomethane solution including two-stage Pressure Swing Adsorption ("PSA") technology. This solution is designed for high nitrogen and oxygen applications and will be deployed in one of the largest landfills in Brazil. The name of Greenlane's customer and the project location have not been disclosed at this time. Contract fulfillment is expected to start immediately.

"We are delighted to have been selected for a showcase project in Brazil," said Ian Kane, President and CEO of Greenlane. "Our customer ran a professional and highly competitive process and we are honoured to win the contract. Greenlane is motivated to build upon our market leadership and presence in Brazil and is committed to continuing to build out a talented local team that will be key to the implementation and eventual servicing of the systems we deploy throughout the country. The opportunity for significant expansion of biomethane in Brazil is clear to us and we look forward to working with our customers as they expand their own capacity and develop additional projects. Furthermore, this is an example of the type of high value contract we have been focused on winning, one with a repeatable configuration that leverages our new sector-focused product lines."

About Greenlane Renewables

Greenlane is driving change: accelerating the energy transition to a net-zero emissions economy. We are cleaning up two of the largest and most difficult to decarbonize sectors of the global energy system: the natural gas grid and commercial transportation. As a pioneer and leading specialist in biogas upgrading, we have been actively contributing to the decarbonization of our planet for over 35 years. The systems we provide transform biogas generated from organic waste into high-value grid-ready renewable natural gas ("RNG"). Our systems produce clean, low-carbon and carbon-negative RNG from organic waste sources including agriculture (such as dairy and hog manure), water resource recovery facilities, food waste, landfills, and sugar mills. Greenlane is the only biogas upgrading company offering and actively deploying the three main upgrading technologies: waterwash, pressure swing adsorption, and membrane separation, plus proprietary biogas desulfurization technology. Greenlane has delivered over 140 biogas upgrading systems into 19 countries, including some of the largest RNG production facilities in the world. For further information, please visit www.greenlanerenewables.com.

FORWARD LOOKING INFORMATION – This news release contains "forward-looking information" within the meaning of applicable securities laws. All statements contained herein that are not historical in nature contain forward-looking information. Forward-looking information can be identified by words or phrases such as "will be", "may", "is expected", "likely", "should", "would", "plan", "anticipate", "intend", "potential", "proposed", "estimate", "believe" or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions "can", "may" or "will" happen or that current events or conditions will continue or be repeated. In particular, this news release contains forward looking information relating to the anticipated supply of the Company's Cascade PSA LF product that will be deployed in one of the largest landfills in the northeast of Brazil with fulfillment expected to start immediately; that the Company is committed to continuing to build out its team in Brazil for the implementation and servicing of the Company's systems that it deploys throughout the country; that there is opportunity for significant expansion of biomethane projects in Brazil; that the customer is investing in its landfills to produce biomethane. The forward-looking information contained herein is made as of the date of this press release and is based on assumptions management believed to be reasonable at the time such statements were made, including management's perceptions of future growth and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances. While management considers these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct. By their nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond the Company's control, could cause actual results to differ materially from the forward-looking information in this press release. Such factors include, without limitation, risks relating to the supply of and timing of the fulfillment of supply of the Cascade PSA LF, risks that may adversely affect the potential for expansion of biomethane in Brazil, and risks identified in the Company's annual information form and in other documents filed with Canadian securities regulatory authorities on the Company's SEDAR profile at www.sedarplus.ca. Readers are cautioned not to put undue reliance on forward-looking information.  Actual results may differ materially from those anticipated. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

SOURCE Greenlane Renewables Inc.

Incite Capital Markets, Eric Negraeff / Darren Seed, Ph: 604.493.2004; Ian Kane, President & CEO, Greenlane Renewables Inc., Email: [email protected]