Greenlane Renewables Announces $7.2 Million System Sale
~Greenlane to supply an integrated desulfurization and water wash system for a new RNG project in Ohio~
VANCOUVER, BC, March 9, 2023 /CNW/ - Greenlane Renewables Inc. ("Greenlane") (TSX: GRN) (FSE: 52G) is pleased to announce that it has been awarded a $7.2 million (US$5.4 million) contract through Synthica St Bernard, LLC for a food waste to pipeline RNG project in Ohio, United States. Greenlane will supply an integrated sulfur removal and water wash system for upgrading biogas generated from food waste streams into pipeline-spec renewable natural gas ("RNG") for direct injection into the local natural gas pipeline network.
The project will process approximately 190,000 annual tons of organic waste from nearby food and beverage manufacturers. The project is expected to generate approximately 250,000 MMBtus (million Btus) of pipeline-quality RNG each year that will be injected into a local natural gas pipeline on the regional distribution system. Greenlane's order fulfillment is expected to commence immediately.
"We're excited to work with Synthica St. Bernard, LLC and have them select both our experience and industry-leading water wash system and integrated sulfur removal technology," said Brad Douville, CEO of Greenlane. "Synthica St. Bernard, LLC is committed to providing its customers with reliable energy, and RNG is playing a more important role in that as well as helping them reduce their overall greenhouse gas emissions footprint and offer more sustainable energy products. Greenlane is proud to partner with Synthica St. Bernard, LLC in its quest to decarbonize operations."
Synthica St. Bernard, LLC is the first project company of a joint venture between a subsidiary of UGI Energy Services, LLC and Synthica Energy, LLC. UGI Energy Services LLC markets natural gas, electricity and liquid fuels to commercial, institutional and industrial customers at approximately 42,000 locations in eleven eastern states and Washington, D.C, United States. UGI Energy Services owns and operates natural gas midstream assets such as gas processing, liquefied natural gas storage and vaporization, underground storage fields, gathering, intra and interstate pipeline systems and compressor stations. These assets support the retail business as well as our electric generation assets, and peaking plants. To learn more about UGI Energy Services, visit: www.ugies.com.
Greenlane Renewables is a pioneer in the rapidly growing renewable natural gas ("RNG") industry. As a leading global provider of biogas upgrading systems, we are helping to clean up two of the largest and most difficult-to-decarbonize sectors of the global energy system: the natural gas grid and the commercial transportation sector. Our systems produce clean, low-carbon and carbon-negative RNG from organic waste sources such as landfills, wastewater treatment plants, dairy farms, and food waste streams. To the company's knowledge, Greenlane is the only biogas upgrading company offering the three main technologies: waterwash, pressure swing adsorption, and membrane separation. Greenlane's business has been built on over 35 years of industry experience, patented and proprietary technology, with over 140 biogas upgrading systems sold into 19 countries, including some of the largest RNG production facilities in the world, and over 140 biogas desulfurization units sold. 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 "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. In particular, this news release contains forward looking information relating to the anticipated supply of an integrated sulfur removal and water wash system, the fact that order fulfillment will commence immediately and that it is expected to generate approximately 250,000 MMBtus (million Btus) of pipeline-quality RNG each year.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 estimated RNG generation of the project 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.sedar.com. 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; Brad Douville, CEO, Greenlane Renewables, Email: [email protected]
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