Greenlane Renewables Signs Agreement With SWEN Impact Fund for Transition to Provide Turnkey Biogas Upgrading as a Service in Europe
Greenlane Renewables Inc. (“Greenlane”) (TSXV: GRN / FSE: 52G) is pleased to announce that today it has signed a definitive joint venture agreement with SWEN Impact Fund for Transition (“SWEN”), a European fund dedicated to renewable gases managed by SWEN Capital Partners based in Paris, France, with the purpose of providing biogas Upgrading as a Service (“UaaS”) to developers and owners of renewable natural gas (“RNG”) projects in Europe. The joint venture company, called Greenlane Biogas Finance B.V., will remove the burden of ownership on Greenlane’s clients by allowing them to replace initial capital outlays with a monthly fee. With capital provided by SWEN, this joint venture is expected to accelerate deployment of Greenlane’s biogas upgrading systems and assist in the decarbonization of the gas sector in Europe. This finalizes the agreement in principle announced on January 28, 2020.
By Business Wire