VANCOUVER, BC, July 4, 2024
/CNW/ - Greenlane Renewables Inc. ("Greenlane" or the
"Company") (TSX: GRN) (FSE: 52G) today announced that the
Company has extended its $26.5
million standby letter of credit facility (the
"Facility") to April 30, 2025.
The Facility is secured by a guarantee from Export Development
Canada.
"This extension marks a significant milestone in supporting the
Company's financial flexibility," said Monty Balderston, CFO of Greenlane. The Facility
supports the Company's pursuit and fulfillment of larger projects
and larger portfolios of projects in the global RNG market.
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 145 biogas upgrading systems into 19
countries, including some of the largest RNG production facilities
in the world, and over 160 biogas desulfurization units. For
further information, please visit www.greenlanerenewables.com.
SOURCE Greenlane Renewables Inc.