- Greenlane (GRN) has invested in a landfill-to-renewable-natural-gas project developer
- The C$700,000 deployment will be used to ramp up a landfill-to-RNG project to construction financing by late 2022
- The project is located in the midwestern U.S. and is estimated to generate over 250,000 MMBtu per year
- Greenlane Renewables is a global provider of biogas upgrading systems
- Greenlane (GRN) closed up by 1.25 per cent trading at $0.81 per share
Greenlane (GRN) has invested in a landfill-to-renewable-natural-gas project developer.
The C$700,000 pre-construction deployment is in the form of a convertible note with funds to be advanced based on milestone achievements. Greenlane may convert the note into an equity interest in the development company in addition to realizing a return of capital.
The funds will be used to ramp up a landfill-to-RNG project to construction financing by late 2022. The project is located in the midwestern U.S. and is estimated to generate over 250,000 MMBtu annually through a Greenlane biogas upgrading system.
Project revenue streams will include physical gas sales and D3 Renewable Identification Numbers under the U.S. Renewable Fuel Standard Program or, alternatively, long-term offtake agreements with natural gas utilities.
“We are rapidly moving forward with our development capital program,” said Brad Douville, President and CEO of Greenlane. “We continue to see abundant opportunities around the world to add incremental value to project developers by providing development capital to accelerate RNG projects to the ready-for-construction phase.”
“Our aim,” he added, “is to help de-risk projects and build scale in RNG origination, while securing Greenlane system sales and services and new long-term recurring revenue for Greenlane as the industry continues to expand.”
Greenlane Renewables is a global provider of biogas upgrading systems.
Greenlane (GRN) closed up by 1.25 per cent trading at $0.81 per share.
