Growing Climate Change Concerns Shine Spotlight on Renewable Natural Gas Solutions
FN Media Group Presents Microsmallcap.com Market Commentary
NEW YORK, Oct. 22, 2020 /PRNewswire/ -- The world has been slowly shifting towards sustainable energy initiatives, with dozens of countries setting net-zero emissions goals, but wildfires raging across California and Oregon have only accelerated the public push for climate change action. Renewable natural gas (RNG) has emerged as a favorable carbon-cutting, clean energy solution among oil, gas, and utility companies because it is compatible with existing natural gas infrastructure and indistinguishable from conventional natural gas. In recent years, major energy companies, including Dominion Energy (NYSE:D), Sempra Energy (NYSE:SRE), Duke Energy Corp. (NYSE:DUK), and Fortis Inc. (TSX:FTS) (NYSE:FTS) have begun investing billions of dollars into clean energy projects, while Greenlane Renewables Inc. (TSXV:GRN), a biogas upgrading systems provider, is offering turnkey solutions to help governments and businesses around the world meet their zero carbon goals.
Unlike major oil and gas companies looking to reinvent the wheel, Greenlane Renewables Inc. (TSXV:GRN) is completely focused on offering full-system solutions to help waste producers, farmers, municipalities, and project developers alike turn a low-value product into a high-value low-carbon renewable resource - RNG.
This market is lifting off and the only company to offer the three main industry technologies, and the ability to provide customers with the best solution based on their needs vs. competitors offering just one solution, is Greenlane Renewables.
Greenlane Renewables has continued to sign on new customers, which resulted in a 45% revenue increase in Q2 2020 from the previous quarter and a sales order backlog of $41.9 million. Add to that a sales pipeline of approximately $694 million as of June 20, and it's clear why the company is a force to be reckoned with in the RNG market.
Providing Turnkey Biogas Upgrading Solutions
Apart from its multiple core biogas upgrading technologies, Greenlane Renewables has also begun offering turnkey biogas Upgrading-as-a-Service (UaaS) to its clientele. The company teamed up with SWEN Capital Partners to provide biogas UaaS to developers and owners by allowing them to replace initial capital outlays with a monthly fee.
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