Greenlane Renewables Signs $7.7 Million System Supply Contract for Brightmark RNG project in Florida
08 Octubre 2020 - 2:01AM
Business Wire
~Greenlane to supply biogas upgrading systems
to returning customer, Brightmark, for a project generating RNG
from dairy farms for injection into the local gas grid~
Greenlane Renewables Inc. (“Greenlane”) (TSXV: GRN / FSE:
52G) today announced that its wholly-owned subsidiary, Greenlane
Biogas North America Ltd., has signed an $7.7 million (US$5.8
million) contract for a new renewable natural gas (“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 industry expertise and track record in designing
and providing biogas upgrading systems were exactly what we were
looking for in a partner as we continue to grow our RNG project
portfolio,” said Bob Powell, Founder and CEO of Brightmark. “This
helped us de-risk and conclude the project financing, an important
step prior to starting construction.”
As announced by Brightmark yesterday, they have formed a joint
venture with a multinational energy corporation to own projects
across the United States to produce and market dairy RNG. The news
release is at:
https://www.brightmark.com/2020/10/chevron-brightmark-partnership/
About Brightmark
Brightmark is a global waste solutions company that takes a
holistic approach to tackling the planet’s most pressing
environmental challenges with imagination and optimism for the
future. Brightmark offers waste solutions focused on plastics
renewal and producing clean energy through organic waste. For more
information please visit www.brightmark.com.
About Greenlane Renewables
Greenlane Renewables is a leading global provider of biogas
upgrading systems that are helping decarbonize natural gas. Our
systems produce clean, low-carbon renewable natural gas from
organic waste sources including landfills, wastewater treatment
plants, dairy farms, and food waste, suitable for either injection
into the natural gas grid or for direct use as vehicle fuel.
Greenlane is the only biogas upgrading company offering the
three main technologies: water wash, pressure swing adsorption, and
membrane separation. With over 30 years industry experience,
patented proprietary technology, and over 100 biogas upgrading
units supplied into 18 countries worldwide, including the world’s
largest biogas upgrading facility, Greenlane is inspired by a
commitment to helping waste producers, gas utilities or project
developers turn a low-value product into a high-value low-carbon
renewable resource. For further information, please visit
www.greelanerenewables.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”, “expect”, “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 "may" or "will" happen. The
forward-looking information contained in this press release,
includes, but is not limited to, Greenlane supplying biogas
upgrading systems for Brighmark’s Sobek RNG project utilizing
Greenlane’s pressure swing adsorption (PSA) systems for dairy farm
applications in the United States; the resulting renewable natural
gas being injected into the natural gas pipeline; the project
generating sufficient amounts of RNG upon completion; order
fulfilment starting immediately; and that there will be future
opportunities to work together with Brightmark. 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, results of operations,
operational matters, historical trends, current conditions and
expected future developments, as well as other considerations that
are believed to be appropriate in the circumstances. While we
consider 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 our
control, could cause actual results to differ materially from the
forward-looking information in this press release. Such factors
include, without limitation, the risks that Greenlane will not be
able to supply to the Brightmark Sobek RNG project the biogas
upgrading systems as contemplated; the resulting renewable natural
gas may not be injected into the natural gas pipeline; the project
may not be a success or as expected; order fulfilment may not occur
as contemplated or at all; and future opportunities to work with
Brightmark may not be as expected. Additional risk factors can also
be found in the Company's annual information form, which has been
filed under the Company's SEDAR profile at www.sedar.com. Readers
are cautioned not to put undue reliance on forward-looking
information. 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.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release or has in any way approved or disapproved
of the contents of this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20201008005304/en/
Incite Capital Markets Eric Negraeff / Darren Seed Ph:
604.493.2004 Brad Douville, President & CEO, Greenlane
Renewables Email: IR@greenlanebiogas.com
Greenlane Renewables (TSXV:GRN)
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