Greenlane Renewables sign contract for new RNG project in the US
Published by Bella Weetch,
Editorial Assistant
Energy Global,
Greenlane Renewables Inc. (Greenlane) have announced that its wholly-owned subsidiary, Greenlane Biogas North America Ltd., has signed a US$7.7 million contract for a new renewable natural gas (RNG) project in the US, owned by an international energy company. This project will utilise Greenlane’s membrane separation biogas upgrading system. The project owner and location have been withheld at this time. Order fulfilment by Greenlane will start immediately.
Greenlane’s sales pipeline, as announced with its 3Q2020 financial results for the period ending 30 September 2020, and which feeds into the sales order backlog, was in excess of US$690 million. The sales pipeline continues to expand and is reflective of the growing global focus on the low-carbon energy transition. The sales order backlog, which refers to unrecognised revenue from contracted projects, was US$43.8 million on 30 September 2020, representing an annual increase of over 350% compared to 30 September 2019.
While uncertainty remains with respect to the COVID-19 pandemic and its ongoing impact on global economies, the company believes that the energy transition is here to stay. Furthermore, the it believes that RNG will play a meaningful and growing part in countries’ efforts to stimulate their economies while tackling climate change and moving toward a decarbonised future.
International energy companies are rapidly moving to adopt decarbonisation strategies and increase renewable and low-carbon energy sources within their respective portfolios, including RNG. Earlier in 2020, several leading international energy companies announced their respective net zero carbon ambitions by 2050, and subsequently announced specific actions to advance their respective plans such as RNG offtake and project financing.
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Read the article online at: https://www.energyglobal.com/other-renewables/03122020/greenlane-renewables-sign-contract-for-new-rng-project-in-the-us/
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